Private Hospital Global Market Report 2024

The global private hospital market has grown rapidly in recent years. It will grow from $3168.57 billion in 2023 to $3667.59 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth observed during the historical period can be attributed to competitive market dynamics, disease prevalence, healthcare consumerism, the demand for treatment, recruitment of healthcare professionals, and the emphasis on quality and accreditation within the healthcare sector.

The global private hospital market is expected to see rapid growth in the next few years. It will grow to $6489.38 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The projected growth in the forecast period is driven by healthcare digitization, an aging population, the expansion of health insurance coverage, increased disposable income, and the growth of medical tourism. Notable trends expected during this period comprise technology integration, the expansion of telemedicine, advancements in data analytics and AI, a focus on healthcare staff well-being, the development of precision medicine, and the implementation of population health management

The rise in mortality rates due to chronic diseases is expected to drive the expansion of the private hospital market. Chronic diseases, necessitating ongoing medical attention lasting a year or more, have resulted in an alarming global death toll. Statistics from the World Health Organization in April 2021 highlighted that approximately 41 million people succumb annually to chronic diseases, constituting nearly 71% of all global deaths. This surge in chronic disease-related fatalities underpins the growth trajectory of the private hospital market.

The burgeoning trend of medical tourism is poised to significantly influence the growth of the private hospital market. Medical tourism, where individuals seek treatment or healthcare services abroad, has seen a substantial rise owing to the allure of private hospitals. These establishments offer high-quality care, reduced wait times, comprehensive healthcare packages, and specialized services, enhancing their appeal to medical tourists. For instance, in August 2023, data from Travelperk indicated a substantial influx of 34,000 foreign visitors to the UK in 2021 for medical treatments, emphasizing the pivotal role of medical tourism in propelling the private hospital market.

Technological advancements stand as a pivotal trend within the private hospital sector. Leading market players are increasingly investing in advanced medical technologies to bolster their position. For example, in June 2022, Sharp Sight Eye Hospitals, in collaboration with Logy.AI, introduced an AI-based screening solution with 92% accuracy for on-the-spot identification of cataracts. Leveraging artificial intelligence via a simple chatbot on WhatsApp, this solution facilitates early screening and timely treatment, highlighting the role of tech innovation in private hospitals.

Major private hospital entities focus on innovative offerings, such as launching multi-specialty hospitals, to drive revenue growth. For instance, in October 2023, Aster DM Healthcare inaugurated a 506-bed hospital in India, featuring cutting-edge medical facilities like Intra Operative Electron Radiation Therapy (IOERT) for precision cancer treatment. The hospital boasts advanced medical technology, including a full-room digital radiography system, a hybrid biplane catheter, and state-of-the-art operating theaters, signifying the importance of sophisticated medical infrastructure in the market.

Ramsay Healthcare's acquisition of Elysium Healthcare for £775 million ($915.6 million) in February 2022 marks a significant move in the private healthcare sector. This acquisition positions Ramsay Healthcare within the UK mental health hospital network, paving the way for potential organic and inorganic expansion opportunities while enhancing service provisions in the UK. Elysium Healthcare, a UK-based mental health service provider, represents a strategic investment for Ramsay Healthcare's growth and diversification initiatives.

Major companies operating in the private hospital market report are Toulon Hyeres Private Hospital, Deaconesses Croix Saint, Nuffield Health, London Bridge Healthcare, Ramsay Health Care, HCA Healthcare Inc., Spire Healthcare Group PLC, Meoclinic GmbH, Fortis Healthcare Limited, Fresenius SE & Co. KGaA, Life Healthcare Group, Max Superspecialty Hospital Group, Apollo Hospitals Enterprise Ltd., IASIS Healthcare LLC, Ascension Health, Community Health Systems Inc., Universal Health Services Inc., Tenet Healthcare Corporation, LifePoint Health Inc., Kindred Healthcare LLC, Encompass Health Corporation, Acadia Healthcare Company, Select Medical Holdings Corporation, Universal Health Realty Income Trust, Medical Properties Trust Inc., National Healthcare Corporation, Surgery Partners Inc., Surgery Care Affiliates Inc., Surgery Center Holdings LLC, IHH Healthcare Berhad

North America was the largest region in the private hospital market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the private hospital market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the private hospital market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Private hospitals encompass various categories such as children’s hospitals, multispecialty hospitals, acute care hospitals, and specialty hospitals. Children’s hospitals specifically comprise trained personnel specializing in pediatric care, addressing acute and long-term medical needs of kids. Private hospitals vary in capacity, typically categorized as large, medium, or small. Location-wise, they can be situated in rural or urban areas.

This report provides private hospital market statistics, including private hospital industry global market size, regional shares, competitors with a private hospital market share, detailed private hospital market segments, market trends and opportunities, and any further data you may need to thrive in the private hospital industry. This private hospital market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The private hospital market includes revenues earned by entities by caregiver support services, clinical assessments, home health aides, health care escorts, and private nursing care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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