Advancing healthcare infrastructure is driving the growth of United States Hospital Market, in the forecast period.
Moreover, the factors like private funding and government funding for the hospitals and the increased construction is anticipated to further the growth of the United States hospital market in the upcoming five years. The recent outbreak of the coronavirus has alarmed the government toward the requirement of the better health facility along with the advanced medical devices and equipment. These factors are actively supporting the growth of the United States hospital market in the next five years.
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The United States hospital market is segmented on the basis of ownership, type, type of service, bed capacity, competitional landscapes, and regional distribution. Based on type, the market is further segmented into general, specialty, and multi-specialty hospitals. General hospitals are anticipated to hold the largest shares of the market on the grounds of requirements of the population. General hospitals are academic, or community-based health care facility that admits patients without the specific concern but on a general requirement.
The patients if require special care they are often sent to specialty hospitals or multi-specialty hospitals. Any patient with unknown diagnosis, or complicated symptoms are often admitted in the general hospitals and are later transferred to the specialty hospital based on their requirement. Multi-specialty hospitals are anticipated to hold the significant shares of the market on the account of increasing cases of complicated diseases and the patients suffering from chronic conditions like cancer, cardiovascular diseases, and various neuropathic disorders.
Based on ownership, the market is further divided between private and public hospitals. Private funding, and privatization process pf the hospitals is rapidly increasing in the country. Therefore, public hospitals are anticipated to hold the larger revenue shares of the market. The asserted dominance is expected to continue for the next five years due to advantages like better patient care facilities and personalized treatment. Public hospitals are also expected to hold significant shares of the market due to increased governmental efforts to strengthen the health care industry for the general population.
Private hospitals often provide expensive and unaffordable to poor population, health care facility. Public hospitals are often run with the government funding and are obligated to provide minimum or no-cost health services to the poor population of the country. Although unavailability of the expensive and modern technology medical devices is scarce in the public hospitals, the government is planning on expanding the scopes for the public hospitals thereby supporting the growth of the United States hospital market in the upcoming five years.
A partial list of market player in the United States hospital market includes, HCA Healthcare, Inc., Ascension Health, Tenet Healthcare Corporation, Community Health Systems Inc., Catholic Health Initiatives, Hospital Corporation of America, LifePoint Health, Prime Healthcare Services, Universal Health Services, Inc., National Surgical Hospitals, Inc., among others. These market players hold larger shares of the market than the new market players.
With the advancement of the technology, it is appropriate to say that the effective research and development of the technologically advanced medical devices would support the market growth along with the better healthcare services and benefit the market players as well as the consumers. New market players may focus on the research and development to provide better services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies may include mergers & acquisitions and new product developments.
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“Due to recent outbreak of COVID-19 virus, the surge in the demand of better healthcare was experienced in the country. The United States sustains the largest and one of the best healthcare industries when compared globally. Still, the pandemic situation caused an uproar and pushed the population under a complete lockdown situation. To combat the situation in future, government is working exceptionally for the fulfillment of the demand of hospitals, clinics, and other healthcare facilities. New market players may focus over the provision of smart technologies and availability of the multiple specialty infrastructure as well as treatment processes for the satisfaction of the patients. The government support would aid the hospital industry to facilitate better patient care in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Hospital Market By Ownership (Public v/s Private) By Type (General, Specialty, Multi- Specialty) By Type of Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of United States Hospital market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States Hospital market.
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