Hospital Services Market To Exhibit A Lucrative CAGR Of 8.1% From 2019 To 2026

 San Francisco, 19 Nov 2020: The Report Hospital Services Market Size, Share & Trends Analysis Report By Service Type (Inpatient Services), By Hospital Type (State Owned), By Service Area (Others, Cancer Care), By Region, And Segment Forecasts, 2019 - 2026

The global hospital services market size is expected to reach USD 14.8 Trillion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 8.1%. Growing incidence of cancer & other chronic diseases and high cost of treatment are expected to be the vital impact rendering drivers for the market.

Globally, around USD 100 Billion is spent on detecting and treating various cancers, of which, USD 35 Billion is spent on chemotherapy and other cancer drugs alone. According to the American Society of Clinical Oncology, for the year 2016 in the U.S, there were more than 15.5 million cancer survivors, with around 1.7 million individuals being newly diagnosed-a growth of 2% when compared to 2015.

In order to cater to a large consumer population that can afford quality treatments, private hospitals are expected to diversify their specialist service offerings and exhibit growth during the forecast period. Hospital industry is shifting toward premium services, especially in North America and Europe (particularly U.K.), which will increase the value of the market further.

Longer patient wait times and poorer quality of services in state-owned hospitals are major driving forces for private players leading the hospital services market.

Private hospitals are more inclined to provide quality outpatient services via various online and telecommunication networks in terms of consultation, diet/medication review, and health monitoring. Outpatient service quality has therefore improved steadily, and their demand is expected to outgrow inpatient services in the future.

Access Research Report of Hospital Services Market @ https://www.grandviewresearch.com/industry-analysis/hospital-services-market

Hospital Services Market Report Highlights

• Outpatient services is expected to be the fastest growing hospital service type over the forecast period, at a CAGR of 8.5%
• As per analysis of hospital industry, private hospitals are expected to lead the market among state owned and community hospitals, as increasing consumer affordability and lucrative facilities provided by private hospitals attract more patients globally.
• North America was the leading hospital services market in terms of hospital revenue and is expected to maintain its position during the forecast period, as the region has the most expensive healthcare service providers in the world.
• Based on application, neurorehabilitation & psychiatry services is expected to be the fastest growing, as a result of rising incidence of mental disorders and growing demand for mental wellness services. The segment is expected to fuel growth of outpatient services further, since the introduction of telemedicine in healthcare.
• Some major players include HCA Healthcare; Ascension Health; Cleveland Clinic; Community Health Systems, Inc.; Spire Healthcare Group plc.; and Mayo Clinic.

Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/medical-devices

Grand View Research has segmented the global hospital services market based on service type, hospital type, service areas, and region:

Hospital Services Service Type Outlook (Revenue, USD Million, 2015 - 2026)

• Inpatient Services
• Outpatient Services

Hospital Services Hospital Type Outlook (Revenue, USD Million, 2015 - 2026)

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

Hospital Services Service Areas Outlook (Revenue, USD Million, 2015 - 2026)

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

Hospital Services Regional Outlook (Revenue, USD Million, 2015 - 2026)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Access Press Release of Hospital Services Market @ https://www.grandviewresearch.com/press-release/global-hospital-services-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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