According to a new market research study titled ‘Specialty Hospitals Market to 2027 – Global Analysis and Forecasts by Type, the global specialty hospitals market is expected to reach US$ 509.10 Bn in 2027 from US$ 401.65 Bn in 2018. The market is estimated to grow with a CAGR of 2.8% from 2018-2027. The report highlights the trends prevalent in the global specialty hospitals market and the factors driving the market along with those that act as deterrents to its growth.
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In the recent years, specialty hospitals-market is progressing significantly. The global market for specialty hospitals is anticipated to grow from US$ 401.65 Bn in 2018 to US$ 509.10 Bn by 2027 at a CAGR of 2.8%. The growing public private partnership in healthcare industry is likely to drive the growth of the specialty hospitals in the forecast period. Whereas, the rising concerns over the specialty hospitals is likely to restrain the growth of the market in the forecast period.
The market is expected to grow due to the increasing incidences of chronic diseases, growing public private partnership in healthcare industry and growing geriatric population are boosting growth of specialty hospital market. However, high costs of specialty hospitals and rising concerns over specialty hospitals is anticipated to restrain the market growth.
A public–private partnership (PPP) is a cooperative arrangement between two or more public and private hospitals. There are deficiencies in public hospitals, hence partnership with private sector has emerged as a new avenue to eradicate the insufficiencies. The approach also includes developing private specialty hospital on public land that allows certain number of beds/ treatments available to publicly funded patients.
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Key Companies Synopsis– Encompass Health Corporation, Kindred Healthcare Inc., Memorial Sloan-Kettering, Steward Health Care System LLC, Belhoul Speciality Hospital, Advanced Specialty Hospitals, HCA Management Services, L.P., TH Medica, Community Health Systems, Inc., and Universal Health Services, Inc.
The market is expected to slower down its growth due to the rising concerns over specialty hospitals. As these hospitals offers limited beds and sometimes these are not evenly distributed across the world. Also the majority of the specialty hospitals are located in the developed regions whereas, the developing countries have few. In addition, the ability to choose patients in order to maximize the financial gains develops a destabilizing, unsustainable, anti-competitive environment, which has been damaging to full-service community hospitals. Thus, owing to these factors the market is likely to slower down its growth in the forecast period.
The report segments the global specialty hospitals market as follows:
Global Specialty Hospitals Market – By Type
- Cancer Hospitals
- Cardiac Hospitals
- Rehabilitation Hospitals
- ENT Hospitals
- Neurological Hospitals
- Orthopedic Hospitals
- Others
Global specialty hospitals market is likely to grow in the forecast period due to the increasing number of the orthopedic hospitals. The high prevalence of orthopedic conditions such as degenerative bone disease, development of innovative orthopedic devices and rising geriatric population and number of road accidents are anticipated to drive the market.
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