Key Trends and Insights into the General Medical And Surgical Hospitals Market: Growth Rate and Opportunities to 2034
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What fueled the previous growth in the general medical and surgical hospitals market?
The market size for general medical and surgical hospitals has seen consistent growth over the recent years. Projected to increase from $3960.8 billion in 2024 to $4131.42 billion in 2025, the market will experience a compound annual growth rate (CAGR) of 4.3%. Factors like demographic shifts and an aging population, advances in medical understanding and treatment methods, increased health insurance coverage, government health policies and funding, as well as preventive care and public health endeavors contribute to the growth witnessed during the historical period.
What will be the general medical and surgical hospitals market size in the future?
The market size of general medical and surgical hospitals is anticipated to experience consistent growth in the upcoming years. The market is predicted to reach up to $4813.66 billion by 2029, with a compound annual growth rate (CAGR) of 3.9%. The expected growth within the forecast period stems from the transition towards value-oriented care models, the integration of telehealth and remote patient monitoring systems, emphasis on population health management, cooperation and amalgamation with specialized services, plus evolving healthcare payment and reimbursement structures. The forecast period also sees major trends such as strategies for managing population health, the shift towards ambulatory and outpatient services, cooperation and amalgamation with public health, the focus on value-based care and payment structures, and investments in modern healthcare technology infrastructure.
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What main drivers are fueling expansion in the general medical and surgical hospitals market?
The growth of the general medical and surgical hospitals market is anticipated to be driven by the rising prevalence of chronic illnesses. Chronic diseases, defined as those slowly progressing and generally lasting three months or longer, are becoming more common. To more effectively manage patients’ health and reduce avoidable hospitalizations and adverse events, healthcare organizations are implementing chronic disease management programs. Through these programs, general medical and surgical hospitals stand to lower healthcare costs and improve patient outcomes. Data from the Macmillan Cancer Support, a UK-based cancer charity, in June 2022, revealed that 3 million people were living with cancer in 2022. This number is predicted to increase to roughly 3.5 million by 2025 and further rise to 4 million by 2030 in the UK. Consequently, the escalating prevalence of chronic diseases is fuelling the growth of the general medical and surgical hospital market.
What key areas define the segmentation of the global general medical and surgical hospitals market?
The general medical and surgical hospitals market covered in this report is segmented –
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
Subsegments:
1) By Inpatient Service: Emergency Services, Surgical Services, Maternity Services, Intensive Care Services, Rehabilitation Services
2) By Outpatient Services: Diagnostic Services, Surgical Procedures, Preventive Care, Rehabilitation Services, Telemedicine Services
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Who are the dominant players expanding their reach in the general medical and surgical hospitals market?
Major companies operating in the general medical and surgical hospitals market include 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 San Francisco Medical Center, Massachusetts General Hospital, Cedars-Sinai Medical Center, NewYork-Presbyterian Hospital, UCLA Medical Center, Brigham and Women’s Hospital, Stanford Health Care, Hospital of the University of Pennsylvania, Houston Methodist Hospital, Barnes-Jewish Hospital, Mount Sinai Hospital, Cincinnati Children’s Hospital Medical Center, Emory University Hospital, Northwestern Memorial Hospital, NYU Langone Hospitals, UPMC Presbyterian Shadyside, Vanderbilt University Medical Center, University of Michigan Hospitals-Michigan Medicine, Wake Forest Baptist Medical Center, Indiana University Health Medical Center, Oregon Health & Science University Hospital, University of Chicago Medical Center, Duke University Hospital, Thomas Jefferson University Hospitals, Yale New Haven Hospital, UC San Diego Health
How are evolving market trends shaping general medical and surgical hospitals Strategies?
Technological progress is emerging as a crucial trend in the general medical and surgical hospitals market. Leading firms in this sector are leveraging novel technology-based products to boost operational proficiency and augment patient care in radiology through AI-empowered procedures and remote access capabilities. For example, Netherlands-based tech giant, Koninklijke Philips NV, unveiled Philips HealthSuite Imaging in November 2023. This cloud-based PACS enhances radiologists’ and clinicians’ operational efficiency while improving patient care. HealthSuite Imaging, hosted on Amazon Web Services (AWS), introduces new features like swift remote access for diagnostic reading, consolidated reporting, and AI-facilitated workflow management, all conveyed securely via the cloud, alleviating the IT management load.
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Which regions are emerging as leaders in the general medical and surgical hospitals market?
North America was the largest region in the general medical and surgical hospitals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the general medical and surgical hospitals market report during the forecast period. The regions covered in the general medical and surgical hospitals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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