Hospitals - North America

North America

The Hospitals market in North America is projected to reach a staggering revenue of US$1,615.00bn by 2024.
This reflects a significant growth rate with an annual CAGR of 3.48% from 2024 to 2029, resulting in a market volume of US$1,916.00bn by 2029.
When compared globally, in the United States is expected to generate the highest revenue in the Hospitals market, reaching US$1,501.00bn in 2024.
This highlights the dominance of the United States in this market segment.
In terms of per person revenues, the Hospitals market in North America is projected to generate US$3.16k per person in 2024.
This figure showcases the financial impact of the Hospitals market on the population as a whole.
In North America, the trend in the hospital market is a shift towards more personalized and patient-focused care.

Key regions: United States, China, Germany, Japan, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The healthcare industry in North America is one of the largest and most advanced in the world, with the United States being the largest market. The Hospitals market in North America is constantly evolving due to several factors, including changing customer preferences, technological advancements, and local special circumstances.

Customer preferences: Customers in North America are becoming increasingly aware of the importance of healthcare and are willing to spend more on quality healthcare services. They are also demanding more personalized care and seamless access to healthcare services. This has led to an increase in the number of private hospitals and clinics, as well as the adoption of telemedicine and other digital health solutions.

Trends in the market: One of the major trends in the Hospitals market in North America is the shift towards outpatient care. This is due to the increasing demand for convenient and cost-effective healthcare services. Hospitals are also investing in advanced technologies such as electronic health records, artificial intelligence, and robotics to improve patient outcomes and reduce costs.Another trend in the market is the consolidation of hospitals and healthcare systems. This is driven by the need to increase efficiency, reduce costs, and improve patient outcomes. The trend towards consolidation has also led to the development of regional healthcare networks, which enable hospitals to share resources and expertise.

Local special circumstances: The Hospitals market in Canada is dominated by public hospitals, which are funded by the government. However, there is also a growing private healthcare sector, which is driven by the demand for faster access to healthcare services.In the United States, the Hospitals market is highly competitive, with both public and private hospitals vying for market share. The market is also heavily regulated, with strict guidelines on healthcare quality and safety.

Underlying macroeconomic factors: The Hospitals market in North America is influenced by several macroeconomic factors, including population growth, aging demographics, and healthcare policy. The aging population is driving demand for healthcare services, particularly for chronic disease management and long-term care.Healthcare policy is also a major factor, with governments in both Canada and the United States implementing reforms to improve healthcare access and affordability. For example, in the United States, the Affordable Care Act has led to an increase in healthcare coverage, while in Canada, the government is investing in digital health solutions to improve access to healthcare services in remote areas.In conclusion, the Hospitals market in North America is evolving to meet the changing needs of customers and the healthcare industry. The shift towards outpatient care, adoption of advanced technologies, and consolidation of hospitals are some of the major trends in the market. The market is also influenced by local special circumstances and underlying macroeconomic factors such as population growth, aging demographics, and healthcare policy.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.