How Will The General Medical And Surgical Hospitals Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s general medical and surgical hospitals market report forecasts the general medical and surgical hospitals market size to grow to $4.28 Billion by 2027, with a CAGR (compound annual growth rate) of more than 4%.
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General Medical And Surgical Hospitals Market Size Forecast
The global general medical and surgical hospitals market is expected to grow from $3.36 trillion in 2022 to $3.62 trillion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global general medical and surgical hospitals market size is expected to reach $4.28 trillion in 2027 at a CAGR of 4.3%.
North America held the largest general medical and surgical hospitals market share, and Asia-Pacific was the fastest-growing region in 2022.
Key General Medical And Surgical Hospitals Market Driver – Increase In The Prevalence Of Chronic Diseases
According to the International Diabetes Foundation, a Belgium-based umbrella organisation of over 230 national diabetes associations, there will be roughly 537 million adult diabetic patients worldwide in 2021. The population is predicted to grow to 643 million by 2030 and 783 million by 2045. Furthermore, according to the World Health Organisation, a United Nations specialised organisation based in Geneva, cancer was the leading cause of death in the world in 2020. In 2020, it was responsible for 10 million fatalities, or nearly one in every six million. As a result, the rising frequency of chronic diseases is fueling the growth of the general medical and surgical hospital market.
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Key General Medical And Surgical Hospitals Market Trend – Technological Advancement
To maintain their market position, major firms in the general medical and surgical hospitals market are offering innovative technology-based solutions such as Remote Diagnostics and Management Platforms (RDMP). For example, Mayo Clinic, a US-based academic medical centre, will introduce the Remote Diagnostics and Management Platform (RDMP) in April 2021, a new technological platform that will assist physicians in making faster and more accurate diagnoses. The Remote Diagnostics and Management Platform (RDMP) employs cutting-edge artificial intelligence (AI) algorithms to support clinical decision-making in real time. The RDMP allows patients to have more control over their health and make better decisions based on information that is supplied directly to them.
General Medical And Surgical Hospitals Market Segment
1) By Service Type: Inpatient Service, Outpatient Services
2) By Hospital Type: Private Hospital, State-owned Hospital, Public And Community Hospital
3) By Service Areas: Acute Care, Cardiovascular, Cancer Care, Neurorehabilitation And Psychiatry Services, Pathology Lab, Diagnostics, and Imaging, Obstetrics And Gynecology, Other Services
General Medical And Surgical Hospitals Market Major Players and Strategies
Major players in the general medical and surgical hospitals market are Mayo Clinic Health System, HCA Healthcare Inc., Cleveland Clinic, Spire Healthcare Group PLC, Ramsay Health Care Ltd., Ascension, Community Health Systems Inc., Tenet Healthcare Corporation, Fortis Healthcare Ltd., Apollo Hospitals Enterprise Ltd., The Johns Hopkins Health System Corporation, Fresenius Medical Care AG & Co. KGaA, China Resource Phoenix Healthcare Holdings Company Limited, IHH Healthcare Berhad, The University of California, and San Francisco Medical Center.
Christus Surgical Hospital was purchased for $42 million by IRA Capital, a private equity group based in the United States, in January 2022. The acquisition represents IRA Capital’s medical office acquisition strategy, which is focused on increasing medical health capacity and improving service quality at CLSH (Central Louisiana Surgical Hospital), which benefits the people of Central Louisiana significantly. Christus Surgical Hospital is a multi-specialty surgical hospital in the United States that offers cancer treatment, heart care, surgery, imaging, rehabilitation, women’s health, emergency services, and geriatric care.
The General Medical And Surgical Hospitals Global Market Report 2023 covers regional data on general medical and surgical hospitals market size, general medical and surgical hospitals market trends and drivers, opportunities, strategies, and general medical and surgical hospitals market competitor analysis. The countries covered in the general medical and surgical hospitals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
General medical and surgical hospitals are healthcare facilities and services that offer a variety of diagnostic and therapeutic services to people in need of medical attention. These hospitals are utilised to provide patients with inpatient and outpatient medical care.
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