Hospital Services Market Size ,Share, Industry Analysis And Forecast To 2026Posted by Neha Bora on March 6th, 2020 San Francisco, 6 March 2020: The Report Hospital Services Market Size, Share, & Trends Analysis Report By Service Type (Inpatient Services), By Hospital Type (State Owned), By Service Area (Others, Cancer Care), By Region, And Segment Forecasts, 2019 – 2026 The global hospital services market size is expected to reach USD 14.8 Trillion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 8.1%. Growing incidence of cancer & other chronic diseases and high cost of treatment are expected to be the vital impact rendering drivers for the market. Globally, around USD 100 Billion is spent on detecting and treating various cancers, of which, USD 35 Billion is spent on chemotherapy and other cancer drugs alone. According to the American Society of Clinical Oncology, for the year 2016 in the U.S, there were more than 15.5 million cancer survivors, with around 1.7 million individuals being newly diagnosed-a growth of 2% when compared to 2015. In order to cater to a large consumer population that can afford quality treatments, private hospitals are expected to diversify their specialist service offerings and exhibit growth during the forecast period. Hospital industry is shifting toward premium services, especially in North America and Europe (particularly U.K.), which will increase the value of the market further. Longer patient wait times and poorer quality of services in state-owned hospitals are major driving forces for private players leading the hospital services market. Private hospitals are more inclined to provide quality outpatient services via various online and telecommunication networks in terms of consultation, diet/medication review, and health monitoring. Outpatient service quality has therefore improved steadily, and their demand is expected to outgrow inpatient services in the future. Further key findings from the report suggest:
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