What’s The Growth Forecast For Private Hospital Market Through 2023-2032?
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According to The Business Research Company’s report for 2023, the global private hospital market is forecasted to increase from $2,742.38 billion (2022) to $3,158.06 billion (2023) with a 15.16% CAGR. By 2027, the market is anticipated to reach $5,527.01 billion, growing at a 15.02% CAGR.
What was the major driver in the private hospital market?
The increasing mortality from chronic diseases is set to drive the private hospital market. Chronic diseases, lasting a year or more, demand consistent medical care. Private hospitals play a vital role in effectively managing chronic conditions and addressing preventive healthcare. For example, the World Health Organization’s April 2021 data indicates that globally, 41 million people die annually from chronic diseases, accounting for nearly 71% of all deaths. Thus, the surge in chronic disease-related fatalities fuels private hospital market growth.
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What was the key trend in the private hospital market?
Technological advancement is a significant trend within the private hospital market. Leading market players focus on adopting advanced medical technologies to maintain their presence. For example, in June 2022, India’s Sharp Sight Eye Hospitals, in partnership with Logy.AI, an AI healthcare platform, launched a WhatsApp-based AI screening solution, achieving 92% accuracy in instant cataract detection, preventing blindness by early intervention.
Which was the largest region in the private hospital market?
North America was the largest region in the private hospital market share in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the private hospital market prominent players?
Major players in the private hospital market are Toulon Hyeres Private Hospital, Deaconesses Croix Saint, Nuffield Health, London Bridge Healthcare, Ramsay Health Care, HCA Healthcare, Spire Healthcare Group PLC., Meoclinic GmbH, Fortis Healthcare Limited, Fresenius SE & Co. KGaA, Life Healthcare, Max Superspecialty Hospital, Apollo Hospitals Enterprise Ltd., and IASIS Healthcare.
Key private hospital market segments
The global private hospital market is segmented –
1) By Category: Children’s Hospital, Multispecialty Hospitals, Acute Care Hospitals, Specialty Hospitals
2) By Capacity: Large (>500 Beds), Medium (100 Beds-500 Beds), Small (100 Beds)
3) By Location: Rural, Urban
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