United States Hospital Markets, Competition, Forecast & Opportunities, 2018-2022 & 2028F – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “United States Hospital Market, By Ownership (Public v/s Private) By Type (General, Specialty, Multi- Specialty) By Type of Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity, By Region, Competition, Forecast & Opportunities, 2018-2028F” report has been added to ResearchAndMarkets.com’s offering.
United States Hospital Market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028
United States has a sizable geriatric population that needs specialized medical treatment which is placing a burden on the healthcare system due to the rise in average life expectancy. The Centres for Disease Control and Prevention estimates that the average American’s life expectancy at birth was 77.0 years in 2020. Life expectancy for men was 74.2 and the life expectancy for women was 79.9 in 2020.
The growing prevalence of various chronic diseases such as cancer, diabetes, cardiovascular disorders, respiratory problems, renal disorders, among others in the country requiring effective treatment and diagnosis is expected to drive the growth of United States Hospital Market during the forecast period.
The National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP) body of CDC collects data on chronic diseases across United States. According to Centres for Disease and Control and Prevention, chronic disease has been reported as the leading driver of the United States’ USD4.1 trillion in annual healthcare cost. 6 out of 10 people of the country is suffering from chronic disease and 4 among 10 people have more than two types of chronic diseases.
The top three reasons of death among the population of United States includes, heart disease and stroke, cancer, and diabetes. The heart disease related death tolls for one third of the total death among the population which cost the health care system USD216 billion per year. The increasing disease burden has led to an increase in the number of walk-in patients which seeks for better care facilities.
Besides, increasing healthcare expenditure coupled with growing awareness related to early disease diagnosis and treatment is further expected to create lucrative opportunities for the market growth. Furthermore, improving healthcare infrastructure in the country is further supporting the market growth.
Increasing Number of Surgeries
The country’s healthcare spending is increasing quickly as the number of patients rises, which will benefit country’s hospital market growth overall. The number of surgeries done in the United States has significantly increased over time. A NCBI study estimates that around 40-50 million surgical procedures are carried out every year in the nation. According to data released by the Centers for Disease Control and Prevention, U.S. health care spending climbed 9.7% reached $4.1 trillion in 2020.
Additionally, nearly 40 million inpatient surgical procedures, followed closely by 31.5 million outpatient surgeries, were carried out in the United States, according to the National Center for Health Statistics. The digestive, musculoskeletal, cardiovascular, and ophthalmological were among the most underwent procedures in the United States.
Due to the availability of expert medical staff along with presence of advanced equipment & facilities for the diagnosis and treatment of different diseases in the hospital settings is expected to increase the demand for hospital services, thereby driving the market growth in the country.
Rising Cases of Accidents
In the first three months of 2022, 9,560 persons lost their lives in motor vehicle traffic accidents, according to the National Highway Traffic Safety Administration (NHTSA) in the United States. When compared to the 8,935 fatalities anticipated for the same period in 2021, this is an increase of nearly 7%.
Since 2002, there have been fewer first-quarter fatalities than this. NHTSA reported that the mortality rate took a toll from the predicted rate of 1.25 fatalities per 100 million vehicle miles in the first quarter of 2021 to 1.27 fatalities per 100 million vehicle miles in the first quarter of 2022.
According to the CDC, in 2018, there were around 130 million visits to emergency rooms, of which 35 million were attributable to injuries. The need for instant response and the availability of treatment at nearby hospitals is crucial during these circumstances, thus increasing the demand for hospitals to initiate quick response to help the people with increasing their survival rate during critical conditions.
Increasing number of Cancer Cases
According to the Global Cancer Observatory, total number of new cancer cases reported in 2020 were around 2,281,658. Among the different types of cancer, breast and lungs cancer are two of the prominent cancers which are prevalent among the population. This has in turn increased the demand for hospitals where effective diagnosis and treatment can be availed.
Hospitals with advance diagnostic technologies have paved their way for easy and early detection of cancer and easy access to treatment so that people with financial problems can also get access to this long-term disease which usually charge hefty amount for treatment.
Integration of AI in the Hospitals
The advent of AI and machine learning has revolutionized the hospital industry in the United States. In order to make up for the lack of medical staff in hospitals, it helps doctors make more precise diagnoses, nurses admit patients more promptly, and pharmacists develop medications more effectively and safely.
AI for record keeping in hospitals enhances the management of electronic health records (EHRs). EHRs enable for the management of patient health information in a digital format and the sharing of that data with other healthcare professionals across various organisations, increasing physician productivity and patient satisfaction. As they continue to enter the digital health business, major tech companies like Google and Apple are largely responsible for this expansion.
Moreover, the hospital command centre at Johns Hopkins Hospital, which started operating in 2016, leverages predictive analytics to enable a more effective operational flow in the hospital. The hospital collaborated with GE Healthcare to build the Judy Reitz Capacity Command Center, which integrates data from `14 separate Johns Hopkins IT systems` across 22 high-resolution, touch-enabled computer monitors and can receive `500 messages per minute.` The system also identifies and reduces risk, `prioritise activity for the benefit of all patients, and activate interventions to speed patient flow.
Johns Hopkins reported an improvement of 60% increase in its capacity to admit patients `with complex medical issues` from the local area and the entire country since the command centre’s establishment. The hospital is now able to report faster ambulance dispatches, faster bed assignments in the emergency department increased by 30%, and 21% increment in the patient discharge before noon are some of the major improvements seen in the John Hopkins hospital.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United States hospital market.
- HCA Healthcare, Inc.
- Ascension Health
- Tenet Healthcare Corporation
- Community Health Systems Inc.
- Catholic Health Initiatives
- Hospital Corporation of America
- LifePoint Health
- Prime Healthcare Services
- Universal Health Services, Inc.
- National Surgical Hospitals, Inc.
Report Scope:
United States Hospital Market, By Ownership:
- Public
- Private
United States Hospital Market, By Type:
- General
- Specialty
- Multi- Specialty
United States Hospital Market, By Type of Services:
- In-Patient Services
- Out-Patient Services
United States Hospital Market, By Bed Capacity:
- Up to 100 beds
- 100-500 beds
- Above 500 beds
United States Hospital Market, By Region:
- South-West
- Mid-West
- North-East
For more information about this report visit https://www.researchandmarkets.com/r/9jtwhe
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
