Acute Hospital Care Market – Overview
The acute hospital care market is growing mainly due to growing awareness about acute hospital care, and increase in healthcare infrastructure. According to a recent study report published by the Market Research Future, the acute hospital care market is booming and expected to gain prominence over the forecast period. The market is forecast to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
Acute hospital care includes inpatient and outpatient services such as, 24-hour emergency care, imaging/radiology, surgery and recovery, and cardio-pulmonary services.
Due to presence of various market players in this region such as Healthcare Corporation of America, and Vanguard Healthcare Services, Inc., and high healthcare expenditure the Americas dominate the global acute hospital care market. According to the Centres for Disease Control and Prevention in 2015, the total health expenditure in the U.S. region was reported to be USD 3.2 trillion and hospital care accounted for a share of 32.3%.
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Notably, increasing prevalence of minor injuries, and related complications, rising research and development expenditure are the primary drivers for acute hospital care market.
Other push factors such as, rising cases of diseases, and illness, increase in healthcare infrastructure, presence of a large base of the patient population, improvement in reimbursement policies, rising incidences of trauma injury, developing retail and pharmaceutical industries, unmet medical needs in emerging economies, and rapid advancements in medical product offerings are also fuelling the growth of the market.
Despite these drivers, limited availability of facilities and equipment, and poor healthcare system in low and middle-income countries, are expected to hinder the growth of the acute hospital care market during the forecast period.
Acute Hospital Care Market – Key Players
Healthcare Corporation of America
Community Health Systems
Universal Health Services, Inc.
Vanguard Healthcare Services, Inc.
RCCH HealthCare Partners
Ardent Health Services
Legacy Hospital Partners
Acute Hospital Care Market – Competitive Analysis
The acute hospital care market is currently dominated by various players. Due to rising cases of trauma injury, and related complications various existing and new marketers are continuously coming up with advanced treatment approaches to control various health conditions. The global acute hospital care market is currently dominated by numerous players.
Healthcare Corporation of America is one of them by holding a strong share in the market. The company’s stronghold is largely attributed to its innovative and sustainable products. The company provides pharmacy benefit management products primarily in the northeast U.S. region.
Acute Hospital Care Market – Regional Analysis
Owing to the increasing prevalence of chronic diseases and high healthcare expenditure, the Americas region dominate the acute hospital care market. According to the data suggested by the Centre for Disease Control and Prevention (CDC), around 92.1 million adults have at least one type of cardiovascular disease. Furthermore, rising R&D activities and the presence of major market players have also fuelled the growth of the market in this region. On December 8, 2014, Merck announced the acquisition of Cubist for USD 102 per share in cash. Owing to the positive regulations and reimbursement trends in the hospital setting, Merck is significantly growing its hospital acute care profile. For the first three quarters of 2014, Merck’s hospital acute care portfolio grew by more than 10%. The key products in Merck’s hospital acute care portfolio include several antifungals, and antibiotics.
Europe holds the second position in the acute hospital care market. The financial support by the government towards research and development, and other healthcare activities are expected to drive the European market.
Asia Pacific is the fastest growing acute hospital care market owing to a huge patient pool, and rising healthcare expenditure in few developed countries. As per the data suggested by the Australian Institute of Health and Welfare during the year 2015–2016, the total health expenditure was nearly USD 170.4 billion, i.e., 3.6% higher than the expenditure of 2014–2015.
The Middle East & Africa holds the least share of the market owing to less availability of funds, limited medical facilities, and deprived political conditions in Africa.
Industry, Innovation & Related News
February 14, 2019 —- BTG plc (the UK), a leading global healthcare specialist published the data of their study showing that cancer patients with presumed methotrexate toxicity treated with its advanced treatment – Voraxaze®(glucarpidase) had shorter hospital stays, lower in-patient mortality, and lower 90-day mortality than those treated with conventional treatment. The study, based on a retrospective review of Medicare claim data, was published in the journal ClinicoEconomics and Outcomes Research.
BTG Pharmaceuticals provides antidotes that counteract the potentially life-threatening effects associated with exposure or overexposure to certain toxins. These acute care products are typically used in emergency rooms and intensive care units to treat patients for whom there are limited or no existing treatment options.
February 13, 2019 —- Teletracking Technologies Inc. (the US) a pioneer in operationalizing the care continuum launched three new solutions to meet the evolving needs of health systems at HIMSS19. These new solutions include TransferCenterIQ™ the cloud-based successor to TeleTracking’s TransferCenter solution (launched in 2009).
TransferCenterIQ centralizes and expedites patient access into, between, and within acute and community care facilities, and is designed to adapt to the changes that health systems must deal with as integrated care networks become increasingly complex.
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