The U.S. hospital facilities market size is expected to reach USD 1688.7 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2020 to 2027. The demand and supply disparity in the U.S. healthcare sector is increasingly growing. This is primarily due to the increasing number of patients and the insufficient supply of services to provide the required treatment. Furthermore, the increase in average life expectancy of the people has created a large geriatric population in the country which requires special medical care, in turn increasing the pressure on medical systems.
In 2018, the United States government spent USD 3.6 trillion on national healthcare. However, as the number of patients continues to rise, the country’s healthcare spending is projected to expand exponentially and in turn likely to generate variability in the allocation of funds to different healthcare industries, widening the difference between supply and demand. The country spends 17.7 percent of its GDP on healthcare.
As hospitals face both financial and organizational difficulties, the COVID-19 pandemic has further increased the need for healthcare facilities in the U.S. One of the major steps taken by the hospitals at the start of the pandemic was to delay the elective procedures that culminated in monumental monetary losses. In addition, due to the rise in demand for care of COVID-19 patients, hospitals now facing a financial crisis are now seeing increased prices and shortages of required equipment such as ventilators. In addition, increased investment in safety devices such as PPE kits is contributing to the burden on healthcare facilities.
U.S. Hospital Facilities Market Report Highlights
• The acute care segment is expected to emerge as the fastest-growing segment at a CAGR of 9.7% from 2020 to 2027
• The cardiovascular segment accounted for the largest revenue share of 20.3% in 2019
• The private hospital facilities segment accounted for the largest revenue share of 78.3% in 2019
• Inpatient services accounted for the largest revenue share 72.8% in 2019.
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U.S. Hospital Facilities Market Segmentation
Grand View Research has segmented the U.S. hospital facilities market based on patient services, facility type, and service type:
U.S. Hospital Facilities Patient Services Outlook (Revenue, USD Billion, 2016 – 2027)
U.S. Hospital Facilities Type Outlook (Revenue, USD Billion, 2016 – 2027)
• State-Owned & Federal
U.S. Hospital Facilities Service Type Outlook (Revenue, USD Billion, 2016 – 2027)
• Acute Care
• Cancer Care
• Neurorehabilitation & Psychiatry Services
• Pathology Lab, Diagnostics, and Imaging
• Obstetrics & Gynecology
List of Key Players of U.S. Hospital Facilities Market
• HCA Healthcare
• Ascension Health
• CommonSpirit Health
• Community Health Systems
• Trinity Health
• LifePoint Health
• Tenet Healthcare
• Vibra Healthcare
• Providence St. Joseph Health
• Atrium Health
• Baylor Scott & White Health
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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