The acute hospital care market is growing pervasively mainly due to the growing number of specialty care units such as coronary care, intensive care, and neonatal intensive care among others. Similarly, factors such as the increasing prevalence of chronic diseases such as cancer, diabetes, heart disease, and stroke are escalating the market on the global platform, creating a huge demand for acute care units.
Market Research Future (MRFR) in its recently published analysis asserts that the global acute hospital care market is poised to garner colossal accruals by 2023, posting over 7.8% CAGR throughout the forecast period (2017 – 2023). The burgeoning healthcare sector led by improving economic conditions worldwide is predominantly driving the growth of the market.
Additionally, factors such as the augmenting demand for hospitals driven by the large pool patient pool, increasing incidence of trauma injury, and unmet clinical needs are fostering the growth of the market. Moreover, vast advancements in medical technology is a key driving force, fostering the growth of the market.
Conversely, factors such as the availability of a limited number of facilities and equipment are obstructing the growth of the market, especially in the underdeveloped countries.
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Acute Hospital Care Market – Segments
For ease of understanding, the analysis has been segmented into three key dynamics:
By Medical Condition: Urgent care, emergency care, short-term stabilization, acute care surgery, trauma care, and others.
By Services: intensive care, coronary care, cardiology, emergency department, neonatal intensive care, and others.
By Regions: North America, Europe, Asia Pacific, and Rest-of-the-World.
Global Acute Hospital Care Market – Geographical Analysis
The acute hospital care market in the North American region accounts for the dominating market, globally, heading with its well-established healthcare sector. Furthermore, the availability of well-developed technologies, increasing patient population, and growing government support for R&D are some of the major driving forces behind the growth in the market.
Canada and the U.S. among other North American countries are technologically well developed and hold the largest share in the acute hospital care market in the region. Furthermore, factors such as the increasing number of hospitals ambulatory centers drive the market growth in the region. Massive funding from public as well as private sectors alongside the concentration of major companies fuels the growth of the market in this region.
The European region heading with the well-penetrated healthcare sector holds the second-largest share in the acute hospital care market. Increasing investment in the healthcare domain in the well-developed countries such as Germany and France are increasing the size of the market,
Moreover, strong government support & funds alongside the growing demand for better healthcare services are some of the key factors helping the market to register phenomenal growth. The resurging economy in Europe is playing a vital role in the growth of the market, making the high cost of treatment affordable and increasing per capita income in this region.
The acute hospital care market in the Asia Pacific region has emerged as a viable destination for investments. The market is majorly led by the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure.
Some of the developing countries in the APAC region with large populous areas are increasing the demand for quality services and devices in healthcare, offering immense opportunities for acute hospital care.
Furthermore, factors such as the increasing demand for acute hospital care in countries like India and South Korea are impacting the growth of the regional market positively. The increasing number of patients suffering from chronic diseases coupled with the rapidly surging economy in the region propels the market growth in the region, improving the healthcare infrastructure, rapidly.
Global Acute Hospital Care Market – Competitive Analysis
The well-established acute hospital care market appears to be fragmented due to the presence of several large and small players. These players incorporate strategic initiatives such as collaborations, acquisitions, partnerships, and expansions to gain an edge over their competitors and thus to maintain their position in the market. Keeping in mind the therapeutic areas with a high rate of unmet clinical needs, these players assess areas that need further development over the progress that has already been made.
Enormous growth potential demonstrated by the market attracts several new entrants, intensifying the competition. However, these new players find it challenging to cope with the competition, especially in terms of improving the technology. Top players also invest substantially in R&D and clinical trials to develop effective treatments and therapeutics.
Top players operating in the global acute hospital care market include Community Health Systems LLC (U.S.), Universal Health Services, Inc. (U.S.), HCA Holdings, Inc. (U.S.), Vanguard Health System Inc. (U.S.), Ardent Health Services (U.S.), Tenet Healthcare Corp. (U.S.), PruittHealth (U.S.), National HealthCare Corp. (U.S), and Kindred Healthcare, Inc. (U.S.) among others.
Industry, Innovation & Related News
April 03, 2019 —- Recro Pharma, Inc. (the US), a specialty pharmaceutical company operating in an acute care hospital product division and a revenue-generating contract development & manufacturing (CDMO) division announced the restructuring of its acute care segment to reduce the operating expenses.
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