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Hospitals And Outpatient Care Centers Market Size, Share, Growth, Trends And Forecast 2024-2033
Hospitals And Outpatient Care Centers Market Size
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According to The Business Research Company's, The hospitals and outpatient care centers market size has grown strongly in recent years. It will grow from $4454.48 billion in 2023 to $4752.9 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to advances in medical technology, aging population, health insurance coverage, epidemics and pandemics, healthcare regulations.
The hospitals and outpatient care centers market size is expected to see steady growth in the next few years. It will grow to $5625.39 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to digital health and telemedicine, value-based care, healthcare workforce shortages, healthcare policy changes, health equity and access. Major trends in the forecast period include ambulatory care, patient-centered care, technology integration, preventive and wellness services, alternative care models.
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Market Drivers and Trends:
Access to healthcare services in developing countries is expected to improve. Effective implementation of health plans is the core reason for the improvement in healthcare access in many developing regions such as India, China, and many Latin American countries. Some of the country-specific health reforms which are set to improve healthcare access are China's urban resident basic medical insurance and new rural cooperative medical insurance schemes, Brazil's unified health system, and Mexico's popular health insurance. Hence, increasing access to healthcare services is expected to be a major driver of the hospitals and outpatients care centers market.
Mobile and IoT technologies are being implemented by hospitals to provide information to various stakeholders in the hospital ecosystem. This technology offers real time visibility of patient health through active and passive data collection. This technology can monitor medical conditions and prevent life threatening diseases. Data generated through I0T devices is becoming critical for patient care managers, and patients to diagnose, track and treat medical conditions. Major hospitals adopting IoT technology in the USA include HCA, Mercy Virtual Care Centre, and Kaiser Permanente. Thus, this technology enables healthcare providers to make accurate and informed decisions on patients' health.
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Major Key Players of the Market:
Kaiser Permanente, United Health Group Incorporated, HCA Healthcare, Tenet Healthcare, Fresenius Medical Care AG & Co. KGaA, Mayo Clinic, Community Health Systems, Cleveland Clinic, DaVita inc, Ramsay Health Care, Acadia Healthcare Company, American Addiction Centers, Anabranch Recovery Center, Ascension Seton, Bowling Green Brandywine Treatment Center, Behavioral Health Services, Caron Treatment Centers, Cumberland Heights, CuraLinc Healthcare, Eagle View Behavioral Health, English Mountain Recovery, Farley Center, Foundations Recovery Network, French Creek Recovery Center, Haven Behavioral Healthcare, Highland Hospital, Mountain Laurel Recovery Center, NHS England, North Range Behavioral Health, Peak Behavioral Health, Phoenix House, Promises Behavioral Health, Rogers Behavioral Health, Sierra Tucson, Silver Hill Hospital, St. Gregory Recovery Center, St. Joseph Institute for Addiction, Strategic Behavioral Health, Sunspire Health.
Hospitals And Outpatient Care Centers Market 2024 Key Insights:
• The hospitals and outpatient care centers market size is expected to see steady growth in the next few years. It will grow to $5625.39 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.
• Enhancing Healthcare Access In Developing Countries Drives Growth In Hospitals And Outpatient Care Centers Market
• Transforming Healthcare With Mobile And IOT Technologies For Real-Time Patient Monitoring And Informed Decision-Making
• North America was the largest region in the hospitals and outpatient care centers market in 2023
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