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General Medical And Surgical Hospitals Market Opportunities, Strategies, Size, Share And Analysis 2024-2034
General Medical And Surgical Hospitals Market
Insights into General Medical And Surgical Hospitals Market: Global Trends and Analysis
General Medical And Surgical Hospitals Industry - Key Market Dynamics and Trends
The general medical and surgical hospitals market size has grown strongly in recent years. It will grow from $3625.32 billion in 2023 to $3855.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to demographic trends and aging population, advancements in medical knowledge and treatment, health insurance coverage expansion, government healthcare policies and funding, preventive care and public health initiatives..
The general medical and surgical hospitals market size is expected to see steady growth in the next few years. It will grow to $4518.66 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to shift toward value-based care models, integration of telehealth and remote patient monitoring, focus on population health management, collaboration and integration with specialized services, evolving healthcare payment and reimbursement models.. Major trends in the forecast period include population health management strategies, shift towards ambulatory and outpatient services, collaboration and integration with community health, focus on value-based care and payment models, investments in healthcare technology infrastructure..
Market Overview -
General medical and surgical hospitals refer to healthcare facilities and services that provide a wide range of diagnostic and treatment services to patients who require medical care. These hospitals are used for providing inpatient and outpatient medical care to patients.
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Rising Prevalence Of Chronic Diseases Boosts Growth In General Medical And Surgical Hospitals Market
The increasing prevalence of chronic diseases is expected to propel the growth of the general medical and surgical hospitals market forward. Chronic diseases are diseases that progress slowly over time and usually last 3 months or longer. Chronic disease management programs are being implemented by healthcare organizations to reduce avoidable hospitalizations and adverse events by more effectively managing the health of patients with chronic conditions. As a result, general medical and surgical hospitals can benefit from chronic disease management programs by lowering healthcare costs and improving patient outcomes. For instance, in 2021, according to the International Diabetes Foundation, a Belgium-based umbrella organization of more than 230 national diabetes associations, there were approximately 537 million adult diabetic patients in the world. The number is expected to reach 643 million in 2030 and 783 million in 2045. Additionally, in 2021, according to Cancer Research UK, a UK-based registered cancer charity, in 2021, there was an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States, an increase from 1.8 million new cancer cases diagnosed and 606,520 cancer deaths reported in 2020. Therefore, the increasing prevalence of chronic diseases is driving the general medical and surgical hospital market.
Competitive Landscape -
Major companies operating in the general medical and surgical hospitals market report are Mayo Clinic Health System, HCA Healthcare Inc., Cleveland Clinic, Spire Healthcare Group PLC, Ramsay Health Care Ltd., Ascension, Community Health Systems Inc., Tenet Healthcare Corporation, Fortis Healthcare Ltd., Apollo Hospitals Enterprise Ltd., The Johns Hopkins Health System Corporation, Fresenius Medical Care AG & Co. KGaA, China Resource Phoenix Healthcare Holdings Company Limited, IHH Healthcare Berhad, The University of California San Francisco Medical Center, Massachusetts General Hospital, Cedars-Sinai Medical Center, NewYork-Presbyterian Hospital, UCLA Medical Center, UCSF Medical Center, Brigham and Women's Hospital, Stanford Health Care, Hospital of the University of Pennsylvania, Houston Methodist Hospital, Barnes-Jewish Hospital, Mount Sinai Hospital, Cincinnati Children's Hospital Medical Center, Emory University Hospital, Northwestern Memorial Hospital, NYU Langone Hospitals, UPMC Presbyterian Shadyside, Vanderbilt University Medical Center, University of Michigan Hospitals-Michigan Medicine, Wake Forest Baptist Medical Center, Indiana University Health Medical Center, Oregon Health & Science University Hospital, University of Chicago Medical Center, Duke University Hospital, Thomas Jefferson University Hospitals, Yale New Haven Hospital, UC San Diego Health .
Technological Advancements Shapes Future Of The General Medical And Surgical Hospitals Market
Technological advancements are a key trend gaining popularity in the general medical and surgical hospitals market. Major companies operating in the general medical and surgical hospitals market are introducing innovative technology-based products such as Remote Diagnostics and Management Platforms (RDMP) to sustain their position in the market. For instance, in April 2021, Mayo Clinic, a US-based academic medical center, launched the Remote Diagnostics and Management Platform (RDMP), a new technology platform that helps clinicians make faster and more accurate diagnoses. The Remote Diagnostics and Management Platform (RDMP) leverages innovative artificial intelligence (AI) algorithms to assist clinical decision-making in real-time. The RDMP allows patients to have more control over their health and make better decisions based on information that is directly delivered to them.
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Key Segments -
The general medical and surgical hospitals market covered in this report is segmented -
1) By Service Type: Inpatient Service, Outpatient Services
2) By Hospital Type: Private Hospital, State-owned Hospital, Public And Community Hospital
3) By Service Areas: Acute Care, Cardiovascular, Cancer Care, Neurorehabilitation And Psychiatry Services, Pathology Lab, Diagnostics, and Imaging, Obstetrics And Gynecology, Other Services
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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