According to hospitals and outpatient care centers market trends, big data analytics technologies are increasingly being adopted by hospital service providers to generate valuable insights to deliver quality care. This technology offers tools to analyze large data sets to generate critical information associated with patient medical history and preferences. It generates insights to improve and streamline processes, enhance patient satisfaction levels, and offer quality care to the patients. Big data analytics solutions providers are also offering applications to the patients to track and manage their health and help identify healthcare service providers. Major big data analytics solutions providers include SAS, IBM, Oracle and Microsoft.
The global hospitals and outpatient care centers market size is expected to decline from $3831.9 billion in 2019 to $3525.9 billion in 2020 at a compound annual growth rate (CAGR) of -8%. The decline is mainly due to the COVID-19 outbreak and the extension of lockdown as a measure to contain it. The shutdown of nonessential medical care services as recommended by state and national officials, as a measure to contain the virus spread resulted in financial crises for hospitals, outpatient care centers, and other private clinics, as outpatient visits statistics drastically reduced. The hospitals and outpatient care centers market size is then expected to recover and grow at a CAGR of 8% from 2021 and reach $5401.9 billion in 2023.
The hospitals and outpatient care centers market consist of sales of hospital and outpatient care services and related goods by entities (organizations, sole traders and partnerships) that provide hospital and outpatient care services. This industry includes hospitals such as general hospitals, specialty hospitals, and psychiatric and substance abuse hospitals that provide treatment and diagnosis for various diseases. It also includes establishments such as clinics that provide kidney dialysis, family planning counselling, and other outpatient care services.
The global hospitals and outpatient care centers market is segmented by type into hospitals and outpatient care centers. By end user, the market is segmented into male and female. By type of expenditure, it is segmented into public and private. The subsegments included are general medical and surgical hospitals, specialty (except psychiatric and substance abuse) hospitals, psychiatric and substance abuse hospitals, freestanding ambulatory surgical and emergency centers, HMO medical centers, all other outpatient care centers, kidney dialysis centers, outpatient mental health and substance abuse centers, and family planning centers.
The major players in the global hospitals and outpatient care centers market are National Health Service, Kaiser Permanente, Fresenius Medical Care AG & Co. KGaA, DaVita Inc., Universal Health Services, Inc.National Health Service, Kaiser Permanente, Fresenius Medical Care AG & Co. KGaA, DaVita Inc., and Universal Health Services, Inc.
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