Hospitals in Canada - Industry Market Research Report

Hospitals in Canada - Industry Market Research Report

Hospitals in Canada

In the past five years, hospitals in Canada have seen a marginal decline in revenue. However, with robust federal support and a shift in focus, hospitals were able to navigate economic challenges from slumping inpatient admissions. COVID-19 cut surgical admissions, and consumer preference has shifted away from large hospitals. Canadians have more and more looked to specialized facilities for non-urgent treatment, especially for mental health- and substance abuse-related care. Still, initiatives geared at upgrading efficiency have helped hospitals in Canada, over 90.0% of which are nonprofit institutions, report operating surpluses as profit despite this decline. Industry-wide revenue has been slightly declining at a CAGR of 0.1% over the past five years and is expected to total $84.5 billion in 2023, when revenue will climb by an estimated 2.3%.

The Hospitals industry in Canada includes general medical and surgical hospitals that provide surgical and nonsurgical diagnostic and medical treatment to inpatients with medical conditions. Hospitals in this industry maintain beds and usually provide other medical treatment such as outpatient services and pharmacy services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.