U.S. Acute Hospital Care Industry Overview
The U.S. acute hospital care market size is expected to reach USD 2,635.6 billion by 2030 and is expected to expand at a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc.
Its growth can be attributed to factors such as the growing geriatric population, increasing prevalence of chronic diseases, and favorable public reimbursement available for the services through Medicare and Medicaid. According to NCBI studies, individuals over the age of 65 years are at a greater risk of developing chronic illnesses, which could lead to acute exacerbations of underlying chronic diseases. As per the U.S. Census Bureau, the number of people aged 65 was 40.3 million in 2010 and increased to 54.1 million, as of July 2019. The number of elderly patients with critical illnesses has significantly increased over the past few years.
Gather more insights about the market drivers, restrains and growth of the U.S. Acute Hospital Care Market
The risk of malnutrition and frailty in the geriatric population with comorbidities, such as depression, stroke, and dementia, is much higher, mainly owing to various age-related changes in body composition and muscle mass. This results in reduced ability to perform Activities of Daily Living (ADLs), thereby increasing the risk of falls or injuries. As hospital-based emergency rooms are becoming increasingly crowded-with wait times averaging 55 minutes-more patients enrolling in high-deductible health plans, demand for acute hospitals has intensified, especially for patients with severe conditions.
The American Academy of Orthopedic Surgeons reported that in the U.S., bone fracture is a common injury and around 6 million people suffer from it every year. Out of these, around 300,000 patients receive acute care in hospitals. This is expected to boost the growth of the market for acute hospital care in the U.S. Furthermore, there has been a constant increase in the prevalence of chronic diseases, such as cardiovascular diseases, diabetes, cancer, hypertension, and neurological disorders, which could require hospitalization for exacerbation of the underlying chronic diseases. Around 45.0% of the U.S. population, or 133 million people, suffers from at least one chronic condition. Over 1.7 million people die every year in the U.S. due to chronic conditions. The growing prevalence of chronic diseases is one of the crucial factors expected to boost the demand for acute hospitalization.
The increasing prevalence of chronic diseases is leading to a rise in healthcare expenditure. Patients with chronic disorders are frequent users of U.S. healthcare services. Such patients account for nearly 76.0% of the overall physician visits, around 81% of the hospital admissions, and approximately 91.0% of all prescriptions filled. It is also estimated that by 2025, almost 49.0% of the total U.S. population will be affected by chronic conditions. The healthcare providers are trying to reduce the cost burden by limiting the average length of stay is anticipated to boost the market for acute hospital care in the U.S. over the forecast period.
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Market Share Insights
- February 2021: Stanford Medicine and Sutter Health formed a collaborative venture to expand access to integrated, state-of-the-art cancer care for East Bay patients and their families.
Key Companies profiled:
Some prominent players in the U.S. acute hospital care market include
- TH Medical (Tenet Healthcare Corporation)
- Universal Health Services Inc.
- Community Health Systems, Inc.
- Ascension
- Lifepoint Health, Inc.
- Ardent Health Services
- Emerus Hospital Partners, LLC
- Stanford Health Care, Inc.
- NYU Langone Hospitals
- NewYork-Presbyterian Hospital
Order a free sample PDF of the U.S. Acute Hospital Care Market Intelligence Study, published by Grand View Research.
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