U.S. Academic Medical Centers Market To Reach $1.44 Trillion By 2030

U.S. Academic Medical Centers Market Growth & Trends

The U.S. academic medical centers market size is expected to reach USD 1.44 trillion by 2030, based on a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.37% during the forecast period. The market's growth can be attributed to better access to the latest breakthroughs and treatment procedures and the launch of new AMCs in the U.S.

Academic Medical Centers (AMCs) are rapidly shifting towards the latest technologies and treatment models owing to the rising research funding from the federal government. For instance, in May 2022, the University of Maryland School of Medicine partnered with University of Maryland College Park (UMCP) computer scientists, engineers, and University of Michigan physician-scientists to launch MIXR, a new Center for Medical Innovations in Extended Reality. Such initiatives by the major facilities are expected to drive the market's growth over the forecast period.

The COVID-19 pandemic has negatively impacted the market's growth during the initial phase, owing to reduced patient demand and closures of research operations at these centers to limit the spread of the virus. Moreover, medical education was significantly impacted. Many medical schools had to transition to virtual or hybrid learning models, disrupting traditional in-person clinical rotations and hands-on training. However, the pandemic accelerated the adoption of telemedicine and virtual care models. Academic medical centers had to quickly implement telehealth solutions to continue providing patient care while minimizing in-person interactions. This shift prompted a reconsideration of healthcare delivery models.

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 U.S. Academic Medical Centers Market Report Highlights

• Based on the region, the Northeast region held the largest market share in 2022. Many prestigious universities and research institutions that often collaborate with academic medical centers are available in the region, which contributes to the high market share

• Numerous AMCs expanded their revenue streams by engaging in various community health system and physician partnerships. For instance, in October 2022, Tulanve University and LCMC Health partnered for care expansion across Southeast Louisiana and to improve medical training and innovation in the region

• The adoption of technologically advanced solutions such as telehealth, EHR, and others is expected to improve patient care and enhance the profitability of the facilities. This is contributing to the growth of the market

U.S. Academic Medical Centers Market Segmentation

Grand View Research has segmented the U.S. academic medical centers market on the basis of region:

U.S. Academic Medical Centers Region Outlook (Revenue, USD Billion, 2018 - 2030)

• Southeast

• Southwest

• Northeast

• Midwest

• West

List of Key Players of U.S. Academic Medical Centers Market

• Weill Cornell Medicine

• Cleveland Clinic

• Vanderbilt University Medical Center

• University Hospitals

• The General Hospital Corporation (Massachusetts General Hospital)

• Stanford Health Care

• UAB Health System

• Mayo Foundation for Medical Education and Research (Mayo Clinic)

• Cedars-Sinai

• The Johns Hopkins University

• UC San Diego Health

• Icahn School of Medicine at Mount Sinai