Access TOC
Get a SampleAugust 2024
Acute Hospital Care Market (By Facility Type: Psychiatric Hospitals, General Acute Care Hospitals, Rehabilitation Hospitals, Specialized Hospitals, and Long-term Acute Care; By Medical Condition: Short-term Stabilization, Emergency Care, Acute Care Surgery, Trauma Care, and Others; By Service: Intensive Care Unit (ICU), Coronary Care Unit (CCU), Neonatal Intensive Care Unit (NICU), and Others) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2024 - 2033
The global acute hospital care market size was USD 3.19 trillion in 2023, accounted for USD 3.39 trillion in 2024, and is expected to reach around USD 5.87 trillion by 2033, expanding at a CAGR of 6.3% from 2024 to 2033.
The U.S. acute hospital care market size was estimated at USD 1.19 trillion in 2023 and is predicted to be worth around USD 2.29 trillion by 2033, at a CAGR of 6.8% from 2024 to 2033.
North America dominated the global acute hospital care market due to increasing patient population, well-developed technology, increasing government support for Research & Development (R&D), and high spending on health care expenditure. Furthermore, increased R&D activities along with the concentration of major market players have fuelled the market growth in this region.
Europe occupied the second position in terms of market value share owing to the government support for R&D and availability of funds for research. The above mentioned factor anticipated to drive the European market over the analysis period. For instance, developed countries such as France and Germany are investing significantly in the healthcare domain and are primarily focusing on the development of hospital infrastructure.
Apart from all above, the Asia Pacific executes the fastest growth rate during the analysis period because of rapid development in healthcare technologies, high healthcare expenditure, and huge patient population. Moreover, rising demand for acute hospital care in countries such as India, China, and South Korea are likely to boost the overall market growth. Increased demand for quality equipment in healthcare industry to early diagnose the problem and cure them propels the need for acute hospital care.
On the other hand, the Middle East & Africa estimated to have prominent growth over the forthcoming years owing to limited medical facilities coupled with deprived political conditions in Africa.
Rising prevalence of chronic diseases, increasing inpatient volume, and favorable reimbursement policies available for the services through Medicaid and Medicare are the key factors that drive the overall market growth. Increasing incidence of trauma, increasing geriatric patient volume, increasing demand for acute care hospitals, and unmet medical needs in developing countries projected to boost the market growth. An increase in the inpatient volumes because of prevalence of chronic diseases across the globe is stimulating hospitals to work actively towards reducing the Turnaround Time (TOT) and Length of Stay (LOS).
As emergency rooms at hospitals have become increasingly crowded with an average of 55 minutes wait time because of this more patients are showing interest in high-deductible health plans, requirement for acute hospitals has increased specifically for patients with severe medical conditions.
The American Academy of Orthopedic Surgeon reported that bone fracture is a common injury and nearly 6 million people suffer from it every year in the United States.Out of these, only 300,000 patients receive acute hospital care. Acute hospital care aims to help patients attain stable &healthy medical condition as well as discharging the patient in minimum possible time. As per World Health Organization (WHO), nearly 80% of total deaths because of cardiovascular diseases occur in emerging countries. The aforementioned factors anticipated o propel the overall market growth for acute hospital care in the coming years.
| Report Highlights | Details |
| Market Size in 2023 | USD 3.19 Trillion |
| Market Size in 2024 | USD 3.39 Trillion |
| Market Size by 2033 | USD 3.39 Trillion |
| Growth Rate from 2024 to 2033 | CAGR of 6.3% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Vehicle Class, and By Architecture |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Emergency care segment exhibits its dominance in terms of revenue for the year 2023 and expected to have considerable growth during the forthcoming years. Rising prevalence of communicable diseases, increasing cases of burn & trauma injuries, and increase in the number of patients suffering from cardiovascular disease are the key factors that contribute prominently towards the growth of the segment.
Moreover, wide range of services offered in the emergency treatment to the patient’s suffering from life threatening condition expected to foster the market growth. Life-threatening conditions include Cerebrovascular Accident (CVA) or stroke, acute myocardial infarction or heart attack, severe bleeding, extreme difficulty in breathing, burns & lacerations, poisoning, acute abdominal pain, severe allergic reactions, broken bones, and trauma cases such as Traumatic Brain Injury (TBI).
However, short-term stabilization expected to forecast the highest growth in the coming years. This is mainly because of numerous market players focusing on reducing the time of hospital stays that consequently reduces the cost to patient along with wait time, thereby improving the service offered.
Segments Covered in the Report
By Facility Type
By Medical Condition
By Service
By Geography
For questions or customization requests, please reach out to us at sales@precedenceresearch.com
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
August 2024
September 2024
September 2024
November 2024