Hospitals

The Hospitals market in North America is projected to reach a staggering revenue of US$1.61tn by 2024.
This reflects a significant growth rate with an annual CAGR of 3.48% from 2024 to 2029, resulting in a market volume of US$1.92tn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Hospitals market, reaching US$1.50tn in 2024.
This highlights the dominance of the United States in this market.
In terms of per person revenues, the Hospitals market in North America is projected to generate US$3.16k per person in 2024.
This figure showcases the financial impact of the Hospitals market on the population as a whole.
In North America, the trend in the hospital market is a shift towards more personalized and patient-focused care.

Definition:
Hospitals are licensed facilities that provide a variety of medical and surgical services, some of which are also provided by other facilities. A distinguishing characteristic of hospitals is “inpatient care,” which refers to services where patients are admitted to a hospital to stay overnight for closer monitoring.

This market includes general hospitals, psychiatric hospitals, and specialist hospitals, which provide various services to patients, ranging from diagnostics, medical and surgical treatments, nursing and specialized accommodation to other medical services. Depending on the specific legal regulations, the medical services provided by hospitals can vary greatly from country to country. Long-term care facilities, ambulatory care providers, and medical retailers are excluded from this market.

Structure:
The Hospitals market is divided into three categories: Inpatient Care, Outpatient Care, and Other Hospital Services. Inpatient Care comprises all the medical and surgical services that are provided to patients who are admitted to a hospital for an overnight stay. Outpatient Care covers all medical and surgical services that are provided to patients without having to spend the night in a hospital. Other Hospital Services includes hospital services that are provided outside of a basic hospital setting, e.g., day-care, long-term care, and home-based care.

Additional information:
The shown KPIs include revenues, average revenue per capita, number of hospitals, density of hospitals, average revenue per hospital, number of hospital beds, density of hospital beds, and average revenue per hospital bed. Market values represent revenues paid to hospitals by the respective healthcare payers (including VAT, if applicable). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

General hospitals, including community, county, and regional hospitals
Psychiatric hospitals
Specialist hospitals, such as maternity clinics and aesthetics clinics

Long-term care facilities
Ambulatory care providers, such as specialist practices and dental practices
Providers of ancillary medical services
Medical retailers and other providers of medical supplies

The healthcare industry in North America is one of the largest and most advanced in the world, with the United States being the largest market. The Hospitals market in North America is constantly evolving due to several factors, including changing customer preferences, technological advancements, and local special circumstances.

Customer preferences: Customers in North America are becoming increasingly aware of the importance of healthcare and are willing to spend more on quality healthcare services. They are also demanding more personalized care and seamless access to healthcare services. This has led to an increase in the number of private hospitals and clinics, as well as the adoption of telemedicine and other digital health solutions.

Trends in the market: One of the major trends in the Hospitals market in North America is the shift towards outpatient care. This is due to the increasing demand for convenient and cost-effective healthcare services. Hospitals are also investing in advanced technologies such as electronic health records, artificial intelligence, and robotics to improve patient outcomes and reduce costs.Another trend in the market is the consolidation of hospitals and healthcare systems. This is driven by the need to increase efficiency, reduce costs, and improve patient outcomes. The trend towards consolidation has also led to the development of regional healthcare networks, which enable hospitals to share resources and expertise.

Local special circumstances: The Hospitals market in Canada is dominated by public hospitals, which are funded by the government. However, there is also a growing private healthcare sector, which is driven by the demand for faster access to healthcare services.In the United States, the Hospitals market is highly competitive, with both public and private hospitals vying for market share. The market is also heavily regulated, with strict guidelines on healthcare quality and safety.

Underlying macroeconomic factors: The Hospitals market in North America is influenced by several macroeconomic factors, including population growth, aging demographics, and healthcare policy. The aging population is driving demand for healthcare services, particularly for chronic disease management and long-term care.Healthcare policy is also a major factor, with governments in both Canada and the United States implementing reforms to improve healthcare access and affordability. For example, in the United States, the Affordable Care Act has led to an increase in healthcare coverage, while in Canada, the government is investing in digital health solutions to improve access to healthcare services in remote areas.In conclusion, the Hospitals market in North America is evolving to meet the changing needs of customers and the healthcare industry. The shift towards outpatient care, adoption of advanced technologies, and consolidation of hospitals are some of the major trends in the market. The market is also influenced by local special circumstances and underlying macroeconomic factors such as population growth, aging demographics, and healthcare policy.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The healthcare landscape in the United States is a complicated one. There are federal health insurance plans for low-income individuals namely Medicaid and CHIP (Children’s health insurance program) and Medicare for seniors and the disabled. Aside from these, people must buy private health insurance or be left uninsured because the U.S. is the only high-income country without universal healthcare coverage. Hospitals in the U.S., therefore, receive payment from multiple payers. Most revenue generated by U.S. hospitals comes from private insurance, self, or other payments. The complexity of this multi-payer system is instrumental to the U.S. having the highest administrative health costs per capita among wealthy nations.