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Global General Medical And Surgical Hospitals Market to Reach $4813.66 Billion by 2029, Growing at 4% CAGR
General Medical And Surgical Hospitals Market
The surge in chronic illness occurrence is projected to boost the expansion of the general medical and surgical hospitals sector. Chronic illnesses are long-term disorders, usually persisting for at least 3 months or more, and evolve gradually over time. Healthcare providers are putting forth chronic disease management strategies to diminish unnecessary hospital visits and negative consequences, forwarding proficiently handling patients cursed with persistent ailments. This allows general medical and surgical health centers to capitalize on chronic disease management initiatives by mitigating healthcare expenses and enhancing patient results. Macmillan Cancer Support, a charity based in the UK, reported in June 2022 that the tally of individuals suffering from cancer touched 3 million in 2022. Furthermore, this figure is anticipated to rise substantially to close to 3.5 million by 2025, and upsurging to 4 million by 2030, within the UK. Thus, the rising frequency of chronic diseases fuels the momentum of the general medical and surgical hospital industry.
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What is the projected compound annual growth rate (CAGR) of the general medical and surgical hospitals market from 2025 to 2034, and what factors influence it?
In recent years, the market size for general medical and surgical hospitals has seen consistent growth. It is set to expand from $3960.8 billion in 2024 to $4131.42 billion in 2025, witnessing a compound annual growth rate (CAGR) of 4.3%. The growth observed during the historical period can be accredited to various factors such as demographic shifts and an aging population, advances in medical understanding and therapies, the broadening of health insurance coverage, governmental health strategies and funding, as well as efforts in preventive care and public health projects.
The market size for general medical and surgical hospitals is anticipated to experience consistent growth in the upcoming years. The market is projected to expand to $4813.66 billion by 2029, with a compound annual growth rate (CAGR) of 3.9%. The growth in the projected period can be ascribed to the adoption of value-based care models, the merge of telehealth and remote patient monitoring, dedication to population health management, and partnership and amalgamation with specialized services along with progressive healthcare payment and reimbursement models. Significant trends expected during the forecast period include strategies for population health management, a shift towards ambulatory and outpatient services, integration with community health, emphasis on value-based care and payment models, and boosted investment in healthcare technology infrastructure.
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How are the latest trends influencing the growth of the general medical and surgical hospitals market?
The emergence of technological innovations is a predominant trend in the general medical and surgical hospitals market. Leading companies in this sector are utilizing cutting-edge technology to produce new products to raise operational efficiency and improve patient care, predominantly in radiology, through AI-powered workflows and distant accessibility capabilities. For instance, the Netherlands-based tech company Koninklijke Philips NV unveiled the Philips HealthSuite Imaging in November 2023. This cloud-based PACS enhances operational efficiency for radiologists and clinicians and elevates patient care. Leveraging Amazon Web Services (AWS), HealthSuite Imaging embodies features like rapid remote access for diagnostic reading, integrated report generation, and AI-driven workflow organization - all securely delivered over cloud networks to reduce the IT management load.
What are the major segments of the general medical and surgical hospitals market and their role in driving growth?
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
Subsegments:
1) By Inpatient Service: Emergency Services, Surgical Services, Maternity Services, Intensive Care Services, Rehabilitation Services
2) By Outpatient Services: Diagnostic Services, Surgical Procedures, Preventive Care, Rehabilitation Services, Telemedicine Services
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Which regions are key players in the growth of the general medical and surgical hospitals market?
North America was the largest region in the general medical and surgical hospitals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the general medical and surgical hospitals market report during the forecast period. The regions covered in the general medical and surgical hospitals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the general medical and surgical hospitals market?
Major companies operating in the general medical and surgical hospitals market include 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, 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
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What Is Covered In The General Medical And Surgical Hospitals Global Market Report?
• Market Size Forecast: Examine the general medical and surgical hospitals market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the general medical and surgical hospitals market for a structured understanding.
• Key Players Overview: Analyze major players in the general medical and surgical hospitals market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the general medical and surgical hospitals market.
• Segment Contributions: Evaluate how different segments drive overall growth in the general medical and surgical hospitals market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the general medical and surgical hospitals market.
• Industry Challenges: Identify potential risks and obstacles affecting the general medical and surgical hospitals market.
• Competitive Landscape: Review strategic developments in the general medical and surgical hospitals market, including expansions, agreements, and new product launches.
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