New Study on Hospital Services Market - Global Trend, Segmentation, Opportunities and Forecast To 2025

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Global health care spending is projected to increase from US$ 6.5 Trn in 2012 to US$ 10 Trn in 2020 at a compound annual growth rate of 5.5%. Hospital services account for a significant proportion of health care spending. In 2015, around US$ 3.2 Trn was spent on health care in the U.S., with hospital services accounting for 32%, or over US$ 1 Trn.

Key drivers of hospital services are aging population, rise in prevalence of chronic diseases, increase in disposable income specifically in developing countries, and growth in penetration of health insurance. People aged 60 years and above are projected to account for 17% of the global population by 2030, up from the present 12%. Moreover, non-communicable diseases accounted for around 70% of global deaths in 2015 (Source: WHO and Lancet).

The hospital infrastructure is still underdeveloped in emerging economies in Asia Pacific, Africa, and Latin America. In India, the number of hospital beds per 1,000 population is less than 1, which is well below the World Health Organization (WHO) average of around 2.7 and the Organization for Economic Co-operation and Development (OECD) average of over 5. This gap between demand and supply of hospital beds in emerging economies has led to significant growth (organic and inorganic) of the private hospitals market. Apollo Hospitals Enterprise Ltd., India’s largest private hospital services operator, has expanded from a 150-bed facility in 1983 to providing over 9,500 beds in 69 hospitals.

Based on ownership of hospitals, the global hospital services market can be segmented into public hospitals and private hospitals. Private hospitals can be divided into standalone private hospitals and private hospital groups. The public health care system is overburdened in several countries where universal health care coverage is available for all citizens. Long waiting time and poor quality of health care in public hospitals are factors driving the private hospital services market.

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For example, the Government of Indonesia plans to cover all citizens under the National Health Insurance (JKN) program by 2019. Private hospital groups such as The Siloam Hospital Group and Mitra Keluarga have adopted aggressive strategies to benefit from the surging demand for health care services in the country. The Siloam Hospital Group aims to double the number of member hospitals to 50 by 2019.

In terms of region, the global hospital services market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Spending on hospital services is high in North America because the U.S. accounts for almost 40% of the global healthcare spending. Asia Pacific is also expected to account for a significant proportion of the global hospital services market with healthcare spending in China projected to cross US$ 1 Trn by 2020.

Based on type of services, the global hospital services market can be classified into inpatient services and outpatient services. Inpatient and outpatient services can be segmented based on type of specialty into cardiovascular, orthopedics, neurology, oncology, gastroenterology, and others.

Key private hospital groups operating in the global hospital services market include Ramsay Health Care, IHH Healthcare Berhad, Apollo Hospitals Enterprise Ltd., China Resources Phoenix Healthcare Holdings Company Limited, Helios, Community Health Systems, Hospital Corporation of America, Ascension Health, and Tenet Healthcare.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis

The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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