Healthcare

Hospital Services Market to Grow US$ 16.45 Trillion by 2027

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The global Hospital Services market size is expected to surpass around US$ 16.45 Trillion by 2027 and the market is expected to garner growth at a CAGR of 8.2% over the forecast period 2021 to 2027.

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Growth Factors

Key factors driving the global hospital services market are rise in prevalence of chronic diseases, aging population, rise in disposable income especially in the developing countries, and spike in the penetration of health insurance services. People with an age of 60 years and above are expected to contribute around 17% of the world’s population by 2030, high from the present population rate of 12%. Moreover, World Health Organization (WHO) has reported that around 70% of global deaths were due to non-communicable diseases in the year 2015.

The hospital infrastructure is still underdeveloped in several developing countries of Africa, the Asia Pacific, and Latin America. In India, the number of hospital beds is less than 1 per 1,000 populations that is quite below the Organization for Economic Co-operation and Development (OECD) average of more than 5 and the WHO average of around 2.7. This gap between supply and demand of hospital beds in developing and underdeveloped economies has led to significant growth in the private hospitals market. Apollo Hospitals Enterprise Ltd., India’s largest private hospital services provider, has expanded its capacity from 150 beds in 1983 to over 9,500 beds in 69 hospitals.

Market Report Scope

Report Highlights Details
Market Size USD 15.45 Trillion by 2027
Growth Rate CAGR of 8.2% from 2021 to 2027
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2027

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Market Overview

A recent study by Precedence Research on the Hospital Services market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Hospital Services market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Hospital Services. The study also provides the dynamics that are responsible for influencing the future status of the Hospital Services market over the forecast period.

A detailed assessment of the Hospital Services market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Hospital Services market along with their product portfolio enhances the reliability of this comprehensive research study.

Report Highlights

  • In 2019, North America emerged as a global leader accounting for a revenue share of nearly 50% in the global market due to rising cancer cases and cost of medical services
  • The Asia Pacific exhibits attractive growth over the forecast period. Increasing investment for the developed of hospitals and rising number of private market players
  • By service area, cancer and cardiovascular care were observed as the prominent revenue shareholder owing to aging population and cancer cases across the world
  • Based on service type, inpatient service was the prominent segment in the global market because of hospitalization procedures that require long hospital stay
  • Development in the communication technology anticipated to spur the growth of outpatient service over the analysis period
  • In 2019, community hospitals were the largest revenue contributor and observed to grow at a steady pace during the coming years.
  • Private hospitals seek lucrative growth over the forecast period due to the expansion of specialist capabilities and specifically cater to the critical patients

Regional Snapshots

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.

OBJECTIVES OF THE STUDY

  • To analyze and forecast the electric motor market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Major key players operating in the market are

  • Mayo clinic
  • HCA Healthcare
  • Cleveland clinic
  • Spire Healthcare Group plc
  • Ramsay Health Care
  • Ascension Health
  • Community Health Systems, Inc.
  • Tenet Healthcare
  • Fortis Healthcare

Segments Covered in the Report

By Hospital Type

  • State-owned Hospital
  • Private Hospital
  • Public/ Community Hospital

By Service Type

  • Outpatient Services
  • Inpatient Service

By Service Areas

  • Cardiovascular
  • Acute Care
  • Cancer Care
  • Diagnostics, and Imaging
  • Neurorehabilitation & Psychiatry Services
  • Gynecology
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Why should you invest in this report?

If you are aiming to enter the global Hospital Services market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Hospital Services are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1 Research Process

2.2 Market Research Process

2.3 Market Research Approach

2.4 Data Sources

2.5 Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5 COVID 19 Impact on Hospital Services Market

5.1 COVID-19 Landscape

5.2 COVID 19 – Impact Assessment for the Healthcare Industry

5.3 Covid-19 Impact: Global Major Government Policy

5.3.1 US

5.3.1.1 Fiscal

5.3.1.2 Monetary and macro-financial

5.3.2 China

5.3.2.1 Fiscal

5.3.2.2 Monetary and macro-financial

5.3.2.3 Exchange rate and balance of payments

5.3.3 India

5.3.3.1 Fiscal

5.3.3.2 Monetary and macro-financial

5.3.3.3 Exchange rate and balance of payments

5.3.4 Italy

5.3.4.1 Fiscal

5.3.4.2 Monetary and macro-financial

5.3.5 Spain

5.3.5.1 Fiscal

5.3.5.2 Monetary and macro-financial

5.3.6 Germany

5.3.6.1 Fiscal

5.3.6.2 Monetary and macro-financial

5.3.7 Australia

5.3.7.1 Fiscal

5.3.7.2 Monetary and macro-financial

5.3.7.3 Exchange rate and balance of payments

5.4 Market Trends and Hospital Services Opportunities in the COVID-19 Landscape

Chapter 6 Market Dynamics Analysis and Trends

6.1 Hospital services market dynamics

6.1.1 Hospital services market dynamics

6.1.2 Market Drivers

6.1.2.1 Rising cancer incidences to augment hospital services market

6.1.2.2 Increasing knee replacement surgeries to drive hospital services market

6.1.2.3 Availability of next-generation stents to boost the demand for hospital services market

6.1.3 Market Restraints

6.1.3.1 High cost of surgical procedures to restraint global hospital services market

6.1.4 Market Opportunities

6.1.4.1 Digital transformation in the healthcare sector to create new avenues in the hospital service market

Chapter 7 Hospital Services Market, Hospital Type

7.1 Hospital Services Market, by Hospital Type, 2016-2027

7.1.1 Global Hospital Services Market Revenue and Growth Rate analysis by Hospital Type (2016-2027)

7.1.2 Global Hospital Services Market Revenue Share (%) by Hospital Type in 2020 and 2027

7.1.3 State-owned Hospital

7.1.4 Private Hospital

7.1.5 Public/ Community Hospital

Chapter 8 Hospital Services Market, Service Type

8.1 Hospital Services Market, by Service Type, 2016-2027

8.1.1 Global Hospital Services Market Revenue and Growth Rate Analysis by Service Type (2016-2027)

8.1.2 Global Hospital Services Market Revenue Share (%) by Service Type in 2019 and 2027

8.1.3 Outpatient Services

8.1.4 Inpatient Service

Chapter 9 Hospital Services Market, Service Areas

9.1 Hospital Services Market, by Service Areas, 2016-2027

9.1.1 Global Hospital Services Market Revenue and Growth Rate Analysis by Service Areas (2016-2027)

9.1.2 Global Hospital Services Market Revenue Share (%) by Service Areas in 2020 and 2027

9.1.3 Cardiovascular

9.1.4 Acute Care

9.1.5 Cancer Care

9.1.6 Diagnostics & Imaging

9.1.7 Neurorehabilitation & Psychiatry Services

9.1.8 Gynecology

9.1.9 Others

Chapter 10 Global Hospital Services Market Analysis by Region

10.1 Global Hospital Services Market Analysis by Regions (2016-2027)

10.1.1 Global Hospital Services Market Revenue and Forecast (2016-2027)

10.2 Global Hospital Services Market Analysis by Regions (2016-2027)

10.2.1 Global Hospital Services Market Size Comparison by Regions (2016-2027)

10.2.2 North America Hospital Services Market Revenue and Forecast (2016-2027)

10.2.3 North America Hospital Services Market Revenue and Forecast, by country (2016-2027)

10.2.3.1 US Hospital Services Market Revenue and Forecast (2016-2027)

10.2.3.2 Rest of North America Hospital Services Market Revenue and Forecast (2016-2027)

10.2.4 Europe Hospital Services Market Revenue and Forecast (2016-2027)

10.2.5 Europe Hospital Services Market Revenue Comparison by Country (2016-2027)

10.2.6 Europe Hospital Services Market Revenue and Forecast, by country (2016-2027)

10.2.6.1 Germany Hospital Services Market Revenue and Forecast (2016-2027)

10.2.6.2 UK Hospital Services Market Revenue and Forecast (2016-2027)

10.2.6.3 France Hospital Services Market Revenue and Forecast (2016-2027)

10.2.6.4 Rest of EU Hospital Services Market Revenue and Forecast (2016-2027)

10.2.7 Asia Pacific Hospital Services Market Revenue and Forecast (2016-2027)

10.2.8 Asia Pacific  Hospital Services Market Revenue Comparison by Country (2016-2027)

10.2.9 Asia Pacific Hospital Services Market Revenue and Forecast, by country (2016-2027)

10.2.9.1 China Hospital Services Market Revenue and Forecast (2016-2027)

10.2.9.2 Japan Hospital Services Market Revenue and Forecast (2016-2027)

10.2.9.3 India Hospital Services Market Revenue and Forecast (2016-2027)

10.2.9.4 Rest of Asia Pacific Hospital Services Market Revenue and Forecast (2016-2027)

10.2.10 Latin America Hospital Services Market Revenue and Forecast (2016-2027)

10.2.11 Latin America Hospital Services Market Revenue, Production, and Forecast, by country (2016-2027)

10.2.12 Latin America Hospital Services Market Revenue and Forecast, by country (2016-2027)

10.2.12.1 Brazil Hospital Services Market Revenue and Forecast (2016-2027)

10.2.12.2 Rest of LATAM Hospital Services Market Revenue and Forecast (2016-2027)

10.2.13 Middle East and Africa Hospital Services Market Revenue and Forecast (2016-2027)

10.2.14 MEA Hospital Services Market Revenue and Forecast, by country (2016-2027)

10.2.15 Middle East and Africa Hospital Services Market Revenue and Forecast, by country (2016-2027)

10.2.15.1 GCC Hospital Services Market Revenue and Forecast (2016-2027)

10.2.15.2 South Africa Hospital Services Market Revenue and Forecast (2016-2027)

10.2.15.3 North Africa Hospital Services Market Revenue and Forecast (2016-2027)

10.2.15.4 Rest of MEA Hospital Services Market Revenue and Forecast (2016-2027)

Chapter 11 Global Hospital Services Market, Regional Estimates and Trend Forecast

11.1 North America

11.1.1 North America Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.1.2 North America Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.1.3 North America Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.1.4 U.S.

11.1.4.1 U.S. Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.1.4.2 U.S. Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.1.4.3 U.S. Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.1.5 Rest of North America

11.1.5.1 Rest of North America Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.1.5.2 Rest of North America Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.1.5.3 Rest of North America Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.2 Europe

11.2.1 Europe Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.2.2 Europe Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.2.3 Europe Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.2.4 Germany

11.2.4.1 Germany Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.2.4.2 Germany Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.2.4.3 Germany Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.2.5 UK

11.2.5.1 UK Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.2.5.2 UK Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.2.5.3 UK Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.2.6 France

11.2.6.1 France Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.2.6.2 France Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.2.6.3 France Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.2.7 Rest of Europe

11.2.7.1 Rest of Europe Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.2.7.2 Rest of Europe Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.2.7.3 Rest of Europe Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.3 Asia Pacific

11.3.1 Asia Pacific Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.3.2 Asia Pacific Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.3.3 Asia Pacific Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.3.4 China

11.3.4.1 China Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.3.4.2 China Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.3.4.3 China Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.3.5 Japan

11.3.5.1 Japan Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.3.5.2 Japan Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.3.5.3 Japan Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.3.6 India

11.3.6.1 India Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.3.6.2 India Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.3.6.3 India Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.3.7 Rest of Asia Pacific

11.3.7.1 Rest of Asia Pacific Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.3.7.2 Rest of Asia Pacific Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.3.7.3 Rest of Asia Pacific Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.4 Latin America

11.4.1 Latin America Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.4.2 Latin America Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.4.3 Latin America Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.4.4 Brazil

11.4.4.1 Brazil Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.4.4.2 Brazil Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.4.4.3 Brazil Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.4.5 Rest of LATAM

11.4.5.1 Rest of LATAM Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.4.5.2 Rest of LATAM Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.4.5.3 Rest of LATAM Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.5 Middle East and Africa

11.5.1 Middle East & Africa Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.5.2 Middle East & Africa Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.5.3 Middle East & Africa Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.5.4 GCC

11.5.4.1 GCC Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.5.4.2 GCC Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.5.4.3 GCC Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.5.5 North Africa

11.5.5.1 North Africa Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.5.5.2 North Africa Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.5.5.3 North Africa Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.5.6 South Africa

11.5.6.1 South Africa Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.5.6.2 South Africa Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.5.6.3 South Africa Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

11.5.7 Rest of MEA

11.5.7.1 Rest of MEA Hospital Services Market Revenue (Billion USD) by Hospital Type (2016-2027)

11.5.7.2 Rest of MEA Hospital Services Market Revenue (Billion USD) by Service Type (2016-2027)

11.5.7.3 Rest of MEA Hospital Services Market Revenue (Billion USD) by Service Areas (2016-2027)

Chapter 12 Competitive Landscape

12.1 Company Positioning Analysis, 2020

12.2 Hospital Services Market Revenue Analysis, For Top Players (2018-2020)

12.3 Key Strategies Adopted by Players

Chapter 13 Company Profile

13.1 HCA Healthcare

13.1.1 Company Overview

13.1.2 Business Outline

13.1.3 Financial Performance

13.1.4 Revenue, and Gross Margin (2018-2020)

13.1.5 Recent Initiatives

13.2 Cleveland Clinic

13.2.1 Company Overview

13.2.2 Business Outline

13.2.3 Financial Performance

13.2.4 Revenue, and Gross Margin (2018-2020)

13.2.5 Recent Initiatives

13.3 Spire Healthcare Group plc

13.3.1 Company Overview

13.3.2 Business Outline

13.3.3 Financial Performance

13.3.4 Revenue, and Gross Margin (2018-2020)

13.3.5 Recent Initiatives

13.4 Ramsay Health Care

13.4.1 Company Overview

13.4.2 Business Outline

13.4.3 Financial Performance

13.4.4 Revenue, and Gross Margin (2018-2020)

13.4.5 Recent Initiatives

13.5 Ascension Health

13.5.1 Company Overview

13.5.2 Business Outline

13.5.3 Financial Performance

13.5.4 Revenue, and Gross Margin (2018-2020)

13.5.5 Recent Initiatives

13.6 Community Health Systems, Inc.

13.6.1 Company Overview

13.6.2 Business Outline

13.6.3 Financial Performance

13.6.4 Revenue, and Gross Margin (2018-2020)

13.6.5 Recent developments

13.7 Tenet Healthcare

13.7.1 Company Overview

13.7.2 Business Outline

13.7.3 Financial Performance

13.7.4 Revenue, and Gross Margin (2018-2020)

13.7.5 Recent developments

13.8 Fortis Healthcare

13.8.1 Company Overview

13.8.2 Business Outline

13.8.3 Financial Performance

13.8.4 Revenue, and Gross Margin (2018-2020)

13.8.5 Recent Developments

13.9 Mayo Clinic

13.9.1 Company Overview

13.9.2 Business Outline

13.9.3 Financial Performance

13.9.4 Revenue, and Gross Margin (2018-2020)

13.9.5 Recent Initiatives

Chapter 14 Disclaimer

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I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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