General Medical and Surgical Hospitals Global Market Report 2024

The general medical and surgical hospitals market size has grown strongly in recent years. It will grow from $3625.32 billion in 2023 to $3855.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historical period can be attributed to factors such as demographic trends and an aging population, advancements in medical knowledge and treatment modalities, the expansion of health insurance coverage, government healthcare policies and increased funding, as well as initiatives in preventive care and public health.

The general medical and surgical hospitals market size is expected to see steady growth in the next few years. It will grow to $4518.26 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The anticipated growth in the forecast period can be attributed to a shift toward value-based care models, the integration of telehealth and remote patient monitoring, a focus on population health management, collaboration and integration with specialized services, and the evolution of healthcare payment and reimbursement models. Major trends expected in the forecast period include the implementation of population health management strategies, a shift towards ambulatory and outpatient services, increased collaboration and integration with community health services, a continued focus on value-based care and payment models, and significant investments in healthcare technology infrastructure.

The anticipated increase in the prevalence of chronic diseases is set to drive the growth of the general medical and surgical hospitals market. Chronic diseases, lasting three months or longer and progressing slowly over time, have prompted healthcare organizations to implement chronic disease management programs. These programs aim to more effectively manage the health of patients with chronic conditions, ultimately reducing avoidable hospitalizations and adverse events. General medical and surgical hospitals stand to benefit from these programs by lowering healthcare costs and improving patient outcomes. For example, in 2021, the International Diabetes Foundation reported approximately 537 million adult diabetic patients worldwide, with projections of 643 million in 2030 and 783 million in 2045. Additionally, Cancer Research UK noted an increase in cancer cases and deaths in the United States from 2020 to 2021, with an estimated 1.9 million new cases and 608,570 deaths in 2021. Therefore, the increasing prevalence of chronic diseases is a driving force behind the general medical and surgical hospitals market.

The expected rise in healthcare expenditure is poised to contribute to the growth of the general medical and surgical hospitals market. Healthcare expenditure, encompassing costs related to medical treatment and public health initiatives, represents the total amount spent on healthcare goods and services. The spending on general medical and surgical hospitals is directly impacted by increases in healthcare expenditure. For instance, according to the CIHI in November 2022, Canada's total health spending is projected to increase by 0.8% from $328 billion in 2021 to $331 billion in 2022. Therefore, the escalating healthcare expenditure is driving the general medical and surgical hospitals market.

Technological advancements emerge as a prominent trend in the general medical and surgical hospitals market, with major companies introducing innovative technology-based products such as Remote Diagnostics and Management Platforms (RDMP) to sustain their market position. For example, Mayo Clinic launched the RDMP in April 2021, utilizing artificial intelligence (AI) algorithms to assist clinicians in making faster and more accurate diagnoses. This platform empowers patients to have greater control over their health by delivering real-time information to make informed decisions.

Major companies in the general medical and surgical hospitals market are prioritizing strategic partnerships to expand their capacities. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. For instance, Western Surgical Group Inc partnered with Humboldt General Hospital in October 2023 to enhance healthcare services in the Winnemucca, Nevada area. This collaboration aims to increase access to high-quality healthcare by allowing Humboldt General Hospital to provide surgical services.

In January 2022, IRA Capital acquired Christus Surgical Hospital for $42 million as part of IRA Capital's medical office acquisition strategy. This strategy focuses on increasing medical health capacity and enhancing service quality at CLSH (Central Louisiana Surgical Hospital) for the benefit of Central Louisiana residents. Christus Surgical Hospital offers multi-specialty services, including cancer care, heart care, surgery, imaging, rehabilitation, women's health, emergency services, and senior healthcare.

Major companies operating in the general medical and surgical hospitals market report are Mayo Clinic Health System, HCA Healthcare Inc., Cleveland Clinic, Spire Healthcare Group PLC, Ramsay Health Care Ltd., Ascension, Community Health Systems Inc., Tenet Healthcare Corporation, Fortis Healthcare Ltd., Apollo Hospitals Enterprise Ltd., The Johns Hopkins Health System Corporation, Fresenius Medical Care AG & Co. KGaA, China Resource Phoenix Healthcare Holdings Company Limited, IHH Healthcare Berhad, The University of California San Francisco Medical Center, Massachusetts General Hospital, Cedars-Sinai Medical Center, NewYork-Presbyterian Hospital, UCLA Medical Center, UCSF Medical Center, Brigham and Women's Hospital, Stanford Health Care, Hospital of the University of Pennsylvania, Houston Methodist Hospital, Barnes-Jewish Hospital, Mount Sinai Hospital, Cincinnati Children's Hospital Medical Center, Emory University Hospital, Northwestern Memorial Hospital, NYU Langone Hospitals, UPMC Presbyterian Shadyside, Vanderbilt University Medical Center, University of Michigan Hospitals-Michigan Medicine, Wake Forest Baptist Medical Center, Indiana University Health Medical Center, Oregon Health & Science University Hospital, University of Chicago Medical Center, Duke University Hospital, Thomas Jefferson University Hospitals, Yale New Haven Hospital, UC San Diego Health.

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

The main types of services offered by general medical and surgical hospitals include inpatient and outpatient care. Inpatient services involve medical treatment for patients who have been admitted to a hospital and require overnight care. These hospitals can take various forms, including private hospitals, state-owned hospitals, public, and community hospitals. They provide a range of services such as acute care, cardiovascular care, cancer care, neurorehabilitation and psychiatry services, pathology lab services, diagnostics and imaging, obstetrics and gynecology, among others.

The general medical and surgical hospitals market research report is one of a series of new reports that provides general medical and surgical hospitals market statistics, including general medical and surgical hospitals industry global market size, regional shares, competitors with a general medical and surgical hospitals market share, detailed general medical and surgical hospitals market segments, market trends and opportunities, and any further data you may need to thrive in the general medical and surgical hospitals industry. This general medical and surgical 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 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.


This product will be delivered within 3-5 business days.