Acute Hospital Care Market Size, Share & Trends Analysis Report By Medical Condition (Emergency Care, Trauma Care), By Service (ICU, NICU), By Facility Type (Psychiatric, Specialized Hospitals), And Segment Forecasts, 2022 - 2030

Acute Hospital Care Market Growth & Trends

The global acute hospital care market size is expected to reach USD 4.9 trillion by 2030, according to a new report by Grand View Research, Inc., exhibiting a 5.59% CAGR over the forecast period. The rapidly growing geriatric population burdened by the rising prevalence of chronic diseases is one of the major factors driving the industry growth. Chronic diseases, such as Cardiovascular Disorders (CVDs), neurological disorders, cancer, diabetes, and hypertension, require frequent hospitalization on exacerbation of these underlying chronic conditions. The COVID-19 pandemic significantly impacted the existing healthcare systems across the globe and exposed shortcomings of the overburdened system, taking a significant toll on healthcare facilities and providers. In the early stages of the pandemic, healthcare facilities witnessed a shortage of Personal Protective Equipment (PPE), which threatened the health and well-being of medical professionals.

Moreover, the uneven distribution of healthcare facilities and resources in urban and rural areas multiplied the impact of the pandemic on the industry.In addition, healthcare utilization of non-COVID-19 patients decreased as a result of a variety of factors, including state & federal guidance intended to preserve needed hospital bed capacity while minimizing infection transmission, patient reluctance to receive in-person care, and shift to telehealth. North America accounted for the dominating revenue share due to the increased spending on health, favoring reimbursement policies, and strong government support. In Jan 2019, Tenet Healthcare signed a multi-year agreement with Cigna that will allow Cigna members access to Tenet Healthcare’s network of facilities.

Acute Hospital Care Market Report Highlights

• Based on medical conditions, the emergency care segment held the largest revenue share in 2021 due to a rise in the number of patients at hospitals seeking admission for shorter durations
• This includes cases of trauma, injury, respiratory disorders, or cardiac problems, such as acute myocardial infarction
• The NICU services segment is projected to witness the fastest CAGR from 2022 to 2030 due to the rising number of preterm births and increasing prevalence of respiratory distress among infants
• The general acute care facilities segment held the largest share in 2021 due to the majority of admission cases requiring short-term emergency medical attention
• Psychiatric hospitals offering acute psychiatric treatment to patients are expected to register the fastest CAGR over the forecast period
• This is attributed to the high prevalence of stroke due to the factors, such as an increase in smoking & alcohol consumption and poor lifestyle choices