By 2027, Specialty Hospitals Market is Witnessing High Demand Due to Increasing Incidences Of Chronic Diseases

The global specialty hospitals market accounted to US$ 401.65 Mn in 2018 and is expected to grow at a CAGR of 2.8% during the forecast period 2018 - 2027, to account to US$ 509.10 Mn by 2027.

Global specialty hospitals market is expected to grow in the coming years, owing to the factors such as, increasing incidences of chronic diseases, growing public private partnership in healthcare industry and growing geriatric population are boosting growth of specialty hospital market. However, high costs of specialty hospitals and rising concerns over specialty hospitals is anticipated to restrain the market growth.

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The major players operating in the specialty hospitals market include Encompass Health Corporation, Kindred Healthcare Inc., Memorial Sloan-Kettering, Steward Health Care System LLC, Belhoul Speciality Hospital, Advanced Specialty Hospitals, HCA Management Services, L.P., TH Medica, Community Health Systems, Inc., and Universal Health Services, Inc.

Rehabilitation Hospitals is Anticipated to Contribute for the Growth of Specialty Hospitals Market over the forecast period.

Global specialty hospitals market, based on the type is segmented as cardiac hospitals, cancer hospitals, rehabilitation hospitals, ENT hospitals, neurology hospitals, orthopedic hospitals and others. The cardiac hospitals segment held the largest market share in the specialty hospitals. In 2018, the orthopedic hospitals held the second largest market for the specialty hospitals in the market. The rehabilitation hospitals market is expected to grow at a faster pace in the forecast period due to the increasing number of patients who require rehabilitation treatments. According to the American Association of Neurological Surgeons (AANS), there are about 1.7 million cases of TBI occur in the U.S. every year.

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Strategic Insights

Expansions and agreements were observed as the most adopted strategy in global specialty hospitals industry. Few of the expansions and agreements made by the players in the market are listed below:

2019: In January, 2018, Tenet Healthcare Corporation and Anthem Blue Cross signed a new multi -year agreement.

2016: In March, 2016, Memorial Sloan Kettering launched Teen and Young Adult (TYA) Programs to offer special services for people. Moreover, MSK opened a lounge, especially for this teen and adult age group.

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