Global Hospitals and Outpatient Care Centres Market Segmentation, By Type (General Medical and Surgical Services, Psychiatric and Substance Abuse Services, Specialty Services, Family Planning Centres, Outpatient Mental Health and Substance Abuse Centres, Health Maintenance Organization Medical Centres), Expenditure Type (Public, Private), Application (Hospitals, Ambulatory Surgical Centres, Diagnostic Centres, Others) – Industry Trends and Forecast to 2031.
Hospitals and Outpatient Care Centres Market Analysis
Surging improvement of the healthcare access across developing countries such as such as India, China, and several Latin American countries owing to increasing healthcare expenditure and effective implementation of health plans is estimated to drive the market's growth across the globe. Consequently, the market for hospitals and outpatient care facilities is projected to be driven by rising access to healthcare services.
Hospitals and Outpatient Care Centres Market Size
Global hospitals and outpatient care centres market size was valued at USD 4522.87 billion in 2023 and is projected to reach USD 10053.39 billion by 2031, with a CAGR of 10.5% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Hospitals and Outpatient Care Centres Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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Kaiser Foundation Health Plan, Inc., (U.S), DaVita Inc., (U.S), Medtronic (Ireland), Mayo Foundation for Medical Education and Research (MFMER) (U.S), The Johns Hopkins Health System Corporation (U.S), Fresenius Medical Care AG & Co. KGaA (Germany), The Pennant Group, Inc., (U.S), Asahi Kasei Medical Co., Ltd., (Japan), Cleveland Clinic (U.S), The University of Texas MD Anderson Cancer Center (U.S), Johnson & Johnson Private Limited (U.K), Agfa-Gevaert Group (Belgium), McKesson Corporation (U.S), Cerner Corporation (U.S), Omnicell (U.S), Memorial Sloan Kettering Cancer Center (U.S), IPB India (India), University of Maryland Medical Center (UMMC) (U.S), and St. Jude Children's Research Hospital (U.S)
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Hospitals and Outpatient Care Centres Market Definition
The hospitals and outpatient centres basically provide their services by entities healthcare centres. Hospitals provide medical treatment or care with an overnight stay at a hospital or medical facility. On the other hand, outpatient care might take place in a doctor's office or in a hospital. The hospitals and outpatient centres are of various types such as general medical and surgical services, psychiatric and substance abuse services, specialty services, family planning centres, outpatient mental health and substance abuse centres and health maintenance organization medical centres.
Hospitals and Outpatient Care Centres Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Demand For Healthcare Services
The increase in the number of lifestyle diseases and the growing aging population, who are prone to various diseases, are the most significant factors driving the growth for this market. The approaches for the growth and treatment of patients are also expected to accelerate the market's overall growth.
- Technological Advancements To Drive The Growth
Furthermore, the hospitals and outpatient care centres are implementing mobile and internet of things (IoT) technology to offer information to many stakeholders within the healthcare ecosystem. Through active and passive data collecting, this system provides real-time visibility into patient's health. The technology's ability to track medical issues and prevent life-threatening diseases are also expected to fuel market growth.
Moreover, the increased awareness among the patients and doctors regarding various diseases also cushions the market's growth within the forecasted period. An increase in funding for hospitals and outpatient care centres-related research activities combined with the rising investments in extensive research and development are also projected to bolster the growth of the market.
Opportunities
- Growing Developments and Advancements
Moreover, the technological advancements within the healthcare facilities coupled with increasing innovative developments within the hospitals and outpatient care sector are estimated to generate lucrative opportunities for the market. Increased government funding along with the rising investments encourage the advancements, which will further offer numerous growth opportunities for the market.
Restraints/Challenges
- High Surging Costs
On the other hand, the factors such as the rising cost of surgical equipment and equipment repairing as well as the maintenance costs are expected to obstruct market growth.
- Shortage of Professionals
Also, the hospitals and outpatient care centres require skilled and trained healthcare professionals. The shortage of skilled professionals or lack of trained paramedics is projected to challenge the market of hospitals and outpatient care centres in 2024-2031. centres
This hospitals and outpatient care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hospitals and outpatient care centres market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post Covid-19 Impact on Hospitals and Outpatient Care Centres Market
The hospitals and outpatient care centres market was critically impacted by the outbreak of COVID-19. Various challenges emerged, such as the irregularities in supply of raw materials, lesser demand for products from the retailers due to an increase in the number of patients suffering from COVID-19 and other life threatening disorders. Moreover, the postponing of non-urgent surgery has decreased hospital and outpatient care facility revenues as people remained wary of visiting hospitals. The hospitals and outpatient care centres faced financial difficulties as a result of the shutdown of non-essential medical care services, which state and national officials suggested as a method to restrict the virus' spread.
However, the market is projected to witness a slight increment as the manufacturers are focusing on various developments and innovations and there will be lesser restrictions. These factors will aid the market to grow at a substantial pace post COVID-19.
Hospitals and Outpatient Care Centres Market Scope
The hospitals and outpatient care centres market is segmented on the basis of type, expenditure type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- General Medical and Surgical Services
- Psychiatric and Substance Abuse Services
- Specialty Services
- Family Planning Centres
- Outpatient Mental Health and Substance Abuse Centres
- Health Maintenance Organization Medical Centres
Expenditure Type
- Public
- Private
Application
- Hospitals
- Ambulatory Surgical Centres
- Diagnostic Centres
- Others
Hospitals and Outpatient Care Centres Market Regional Analysis
The hospitals and outpatient care centres market is analyzed and market size insights and trends are provided by country, type, expenditure type and application and application as referenced above.
The countries covered in the hospitals and outpatient care centres market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hospitals and outpatient care centres market because of the adopting internet of things (IoT) technology by various well-established market players and the increasing prevalence of various lifestyle diseases within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the region's increasing access to healthcare services and growing geriatric population.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Hospitals and Outpatient Care Centres Market Share
The hospitals and outpatient care centres market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hospitals and outpatient care centres market.
Hospitals and Outpatient Care Centres Market Leaders Operating in the Market Are:
- Kaiser Foundation Health Plan, Inc., (U.S.)
- DaVita Inc., (U.S.)
- Medtronic (Ireland)
- Mayo Foundation for Medical Education and Research (MFMER) (U.S)
- The Johns Hopkins Health System Corporation (U.S)
- Fresenius Medical Care AG & Co. KGaA (Germany)
- The Pennant Group, Inc., (U.S.)
- Asahi Kasei Medical Co., Ltd., (Japan)
- Cleveland Clinic (U.S.)
- The University of Texas MD Anderson Cancer Center (U.S)
- Johnson & Johnson Private Limited (U.K)
- Agfa-Gevaert Group (Belgium)
- McKesson Corporation (U.S.)
- Cerner Corporation (U.S)
- Omnicell (U.S)
- Memorial Sloan Kettering Cancer Center (U.S)
- IPB India (India)
- University of Maryland Medical Center (UMMC) (U.S.)
- St. Jude Children's Research Hospital (U.S.)
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