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.
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