Some of the top key players operating in the hospital services industry are Mayo clinic, HCA Healthcare, Cleveland clinic, Spire Healthcare Group plc, Ramsay Health Care, Ascension Health, Community Health Systems, Inc., Tenet Healthcare, and Fortis Healthcare among others.
North America is the most prominent revenue source compared to other region. The region accounted for around 50% of the total market value share in the year 2019. Ageing population, rising cases of cancer, and increasing cost of medical services in the region are the key factors that drive the overall market growth. Further, the region expected to retain its leading position over the forecast period. Technological advancement and increased spending on the development of hospitals across the region anticipated to propel the market growth. Introduction of smart hospitals that integrate artificial intelligence, analytics platform, and various connectivity solutions projected to upend the market trend in the healthcare service industry.
On the other side, the Asia Pacific expected to be the fastest growing region over the analysis period. The growth of the region is mainly attributed to the rising number of patients, increased number of surgeries, improves quality of hospital services, and rising number of private players in the developing nations such as China, India, and Korea. Further, the region encountered the highest spending on healthcare services in the recent past compared to other regions. Undeveloped healthcare facilities and treatment procedures in some of the parts of the Asia Pacific offer prominent opportunity for the players to enhance their market share in the region.