Global Acute Hospital Care Market: Overview
As geriatric population increases worldwide, so do demands on acute hospital care market. To compound this situation further is a rise in chronic diseases. Besides, the fact that reimbursement facilities are well structured majorly helps. Moreover unmet medical needs in the developing economies will propel the market forward. Not to mention, rise in road accidents in a massive scale is also propelling growth in this market.
Therefore, the market for acute hospital care market is set to see a decent CAGR (Compound Annual Growth Rate). This will translate to a rise in market worth by a considerable amount. Thus, market players are eager to take a slice of the growth pie that we will see over the forecast period of 2019-2027.
Global Acute Hospital Care Market: Notable Development
Certain developments happening in the global acute hospital care market place are transforming the landscape of. These are shaping up both the competitive landscape as well as the future of the market in a big way. Here is a glimpse into the market landscape and its transformations.
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February 2019 – HCA Healthcare Inc. Acquired Mission Health. Together they will build hospital in Asheville for in-patient behavioural health. It will have 120 beds. Also, HCA planned to build a replacement hospital in Franklin, N.C., for Angel Medical Center. It is putting in money worth USD 232 million in Mission Health Facilities.
December 2017 – 14 ancillary facilities and acute care hospitals were acquired by Legacy Lifepoint Health Inc. It acquired them through the joint venture with Duke Life Point Healthcare. In 2018, first quarter of the year, Universal Health services did something similar. It acquired 109-bed behavioural health care facility in Gulfport. This shows how mergers are critical to keep an edge over the competitors.
The global acute hospital care market is fairly consolidated and some of the key players in the global acute hospital care market landscape are Tenet Healthcare Corporation; Fresenius Medical Care; Ramsay Healthcare; Asklepios Kliniken GmbH; Universal Health Services, Inc.; HCA Healthcare, Inc.; Community Health Systems, Inc.; Ascension Health; IHH Healthcare; Mediclinic International; Legacy Lifepoint Health, Inc.; and Ardent Health Services. Mergers and acquisitions form a very important strategy for players in the market as mentioned above.
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Global Acute Hospital Care Market: Key trends and driver
The global acute hospital care market is on an upward trajectory owing to various trends and drivers. A peek into what putting it on a steep positive slope is below:
- There is a rapid increase in geriatric population. In 2018, the world saw the number of people aged 65 and above surpass the number of people aged 5 and below. By 2050, this ration of old people to others would be one is to six. In North America and Europe, one in four people will be aged 65 and above. As this ratio increases, so will global acute hospital care market. To complicate this further, there is an increase in chronic diseases worldwide. This means an increase in in-patient volumes.
- An increase in road accidents is also being noted across the globe. As these along with other outdoor related accidents rise in numbers, so will the global acute hospital care market. This is primarily because these cases need intensive care, critical.
Global Acute Hospital Care Market: Regional Analysis
One of the regions that will show huge growth is North America. That will be followed by Europe. It is attributable to rise in geriatric population, primarily. The other dominant region will be Asia Pacific (APAC). The reason is increasing income levels as economies do better, and rise in geriatric population.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.