The global acute hospital care market is growing rapidly mainly due to the growing number of specialty care facilities such as coronary care, intensive care, and neonatal intensive care among others. Moreover, the significant rise in the number of patients suffering from chronic diseases such as cancer, diabetes, heart disease, and stroke among others are escalating the market on the global level.
Considering the exponential growth, the market perceives currently, Market Research Future (MRFR), in its recently published study report asserts that the global acute hospital care market will grow exponentially by 2023, registering approximately 7.8% CAGR during the forecast period (2017 – 2023).
The global acute hospital care is majorly driven by the augmenting demand for the hospitals, the increasing incidences of trauma injury, the presence of a large pool of patients including geriatric population, and unmet medical needs in emerging economies. Additionally, factors such as huge technological advancements that have improved the quality of treatment are fostering the market growth.
On the other hand, factors such as limited availability of facilities and equipment are impeding the market growth, especially in the underdeveloped countries.
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Global Acute Hospital Care Market – Segmentation
By Medical Condition : Emergency Care, Urgent Care, Short-Term Stabilization, Trauma Care, and Acute Care Surgery among others.
By Services : Coronary Care, Intensive Care, Cardiology, Emergency Department, and Neonatal Intensive Care among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Acute Hospital Care Market – Regional Analysis
The North America region heading with the well-established healthcare sector accounts for the dominating market for acute hospital care, globally. Furthermore, factors such as the higher per capita health care expenditures, well-developed technology, increasing patient population, and growing government support for research & development act as key driving forces.
Countries such as Canada and the US that are well developed technologically hold the largest share in the regional market for acute hospital care. Furthermore, factors such as the presence of a substantial patient population, advanced technology, and the increasing number of hospitals ambulatory centers, drive the market growth in the region. Huge funding from public and private sectors alongside the concentration of major companies fuel the growth of the market in this region.
The acute hospital care market in the European region led by the well-penetrated healthcare sector accounts for the second-largest market, globally. Well-developed countries such as Germany and France are increasing investment in the healthcare domain, focusing more on hospital infrastructure this, as a result, increases the market growth.
Moreover, the availability of funds, strong government support, and increasing demand for better healthcare services are some of the key factors helping the market to increase. Additionally, the resurging economy is making the high cost of treatment affordable increasing per capita income in this region.
The Asia Pacific acute hospital care market is emerging as a profitable market, globally. Factors such as the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure foster the growth of the regional market.
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The APAC region accounts for over 41% of the global population, and most of the countries falling under the Asia Pacific region are in the developing phase. These developing countries have immense opportunities for acute hospital care, increasing the demand for quality services and devices in healthcare.
Furthermore, increasing demand for acute hospital care in countries like India and South Korea are impacting the market growth in the region, positively. Moreover, factors like the increasing number of patients suffering from chronic diseases and rapidly improving healthcare infrastructure led by the rapidly surging economy in the region are propelling the market growth.
Global Acute Hospital Care Market – Competitive Analysis
Highly competitive, the acute hospital care market appears to be fragmented characterized by the presence of several large and small players. Well-established players incorporate strategic initiatives such as acquisition, collaboration, partnership, technology launch, and expansion to gain a competitive advantage in this market and to maintain their market position. Focusing on therapeutic areas with a high unmet medical need, these companies assess areas that require further innovation over the progress that has been made.
High growth potential that the market demonstrates attracts several new entrants to the market which further results in intensifying the competition. Substantial investments are transpired in R&D and clinical trials by the top players to develop effective treatments for these infections. These players are holding significant market share while other small and medium-sized companies are growing as well.
Key players leading the global acute hospital care market include Community Health Systems LLC (U.S.), HCA Holdings, Inc. (U.S.), Universal Health Services, Inc. (U.S.), Vanguard Health System Inc. (U.S.), Tenet Healthcare Corp. (U.S.), Ardent Health Services (U.S.), PruittHealth (U.S.), Kindred Healthcare, Inc. (U.S.), and National HealthCare Corp. (U.S) among others.
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Industry, Innovation & Related News
- February 14, 2019 —- BTG plc (the UK), a leading global healthcare specialist published the data of their study showing that cancer patients with presumed methotrexate toxicity treated with its advanced treatment – Voraxaze®(glucarpidase) had shorter hospital stays, lower in-patient mortality, and lower 90-day mortality than those treated with conventional treatment. The study, based on a retrospective review of Medicare claim data, was published in the journal ClinicoEconomics and Outcomes Research.
- The acute care products of BTG Pharmaceuticals such as antidotes counteract the potentially life-threatening situation occurred due to the overexposure to certain toxins are typically used in emergency rooms and intensive care units to treat patients with limited or no existing treatment options.
- February 13, 2019 —- Teletracking Technologies Inc. (the US) a pioneer in operationalizing the care continuum launched three new solutions to meet the evolving needs of health systems at HIMSS19. These new solutions include TransferCenterIQ™ the cloud-based successor to TeleTracking’s TransferCenter solution (launched in 2009).
TransferCenterIQ helps centralize and expedite patient access to acute and community care facilities. This product is designed to adapt to the changes that health systems must deal with as integrated care networks become increasingly complex.