Overview and Scope
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.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the general medical and surgical hospitals market in 2023. 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
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the general medical and surgical hospitals market are focused on strategic partnership to expand their capacities. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in October 2023, Western Surgical Group Inc, a Nevada-based company that provides health care services, partnered with Humboldt General Hospital, a Nevada-based medical group practice that specializes in orthopedic surgery, for enhancing healthcare services in the Winnemucca, Nevada area. The collaboration will allow Humboldt General Hospital to provide surgical services, eventually helping the local population by increasing access to high-quality healthcare.
The general medical and surgical hospitals market report table of contents includes:
- Executive Summary
- General Medical And Surgical Hospitals Market Characteristics
- General Medical And Surgical Hospitals Market Trends And Strategies
- General Medical And Surgical Hospitals Market – Macro Economic Scenario
- Global General Medical And Surgical Hospitals Market Size and Growth
- General Medical And Surgical Hospitals Market Segmentation
- General Medical And Surgical Hospitals Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The General Medical And Surgical Hospitals Market
- General Medical And Surgical Hospitals Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global General Medical And Surgical Hospitals Market, Segmentation By Sevice, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global General Medical And Surgical Hospitals Market, Segmentation By Hospital Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global General Medical And Surgical Hospitals Market, Segmentation By Service Areas, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Mayo Clinic Health System Financial Performance
Table 75: HCA Healthcare Inc. Financial Performance
Table 76: Cleveland Clinic Financial Performance
Table 77: Spire Healthcare Group PLC Financial Performance
Table 78: Ramsay Health Care Ltd. Financial Performance
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