U.S. Hospital Facilities Market To Reach $2,540.4 Billion By 2030

U.S. Hospital Facilities Market Growth & Trends

The U.S. hospital facilities market size is anticipated to reach USD 2540.4 billion by 2030 and is anticipated to grow at a CAGR of 7.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Technological advancements, such as telehealth, mobile apps, artificial intelligence, and wearable devices, are boosting market growth. Furthermore, the demand and supply gap in the U.S. healthcare system is increasing rapidly. This can mainly be attributed to the growing number of patients and the limited resources available to provide necessary care.

Lifestyle changes and an increase in the number of sedentary jobs are transforming the disease profile of the U.S. population. Noncommunicable diseases such as cancer, diabetes, and cardiovascular diseases are increasing in prevalence. For instance, according to a CDC report, diabetes prevalence had risen to an estimated 37.3 million patients in 2022. Lifestyle diseases due to poor dietary habits, lack of exercise, and smoking, irrespective of gender, age, & heredity, lead to several health problems, such as low body oxygen levels & breathing difficulties. Chronic disease prevalence is expected to rise in the country.

The COVID-19 pandemic adversely impacted the U.S. healthcare system. Healthcare facilities across the U.S. were facing both financial and organizational difficulties. One of the major steps taken by the hospitals at the start of the pandemic was to delay elective procedures, which culminated in monumental monetary losses for the hospitals. According to AHA COVID-19 Financial Impact Report Estimates, due to canceled services during the pandemic, non-federal hospitals lost around USD 161.4 billion in income during the four months from March 2020 to June 2020. Furthermore, the decline in visits was mostly attributed to the cancellation of elective treatments, which resulted in a revenue loss of millions of dollars. According to CovidSurg, 28.4 million surgeries were canceled or postponed during the first 3 months of disruption caused by the pandemic. The aforementioned factors negatively impacted the market.

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U.S. Hospital Facilities Market Report Highlights

• The cardiovascular segment dominated the market, accounting for a share of around 20% in 2022. The segment is further expected to dominate the market over the forecast period.

• The public/community hospitals segment dominated the market with a share of over 52% in 2022. Community hospitals hold the highest number of patient beds and offer a wide variety of care areas through different services.

• The outpatient services segment dominated the market with a share of around 51% in 2022 and is additionally poised to be the fastest-growing segment with a CAGR of 9.0% over the forecast period.

• Based on bed size, the market is segmented into 0-99, 100-199, 200-299, and 300-more. The 0-99 segment dominated the market in 2022 with a revenue share of 53.2%. This segment comprises small hospitals that primarily serve rural or remote areas with low population density.

U.S. Hospital Facilities Market Segmentation

Grand View Research has segmented the U.S. hospital facilities market report on the basis of patient service, facility type, service type, and bed size:

U.S. Hospital Facilities Patient Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Inpatient Services

• Outpatient Services

U.S. Hospital Facility Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Private Hospitals

• State-owned & Federal Hospitals

• Public/Community Hospitals

U.S. Hospital Facilities Service Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Acute Care

• Cardiovascular

• Cancer Care

• Neurorehabilitation & Psychiatry Services

• Pathology Lab, Diagnostics, and Imaging

• Obstetrics & Gynecology

• Others

U.S. Hospital Facilities Bed Size Outlook (Revenue, USD Billion, 2018 - 2030)

• 0-99

• 100-199

• 200-299

• 300-more

List of Key Players in the U.S. Hospital Facilities Market

• The Johns Hopkins Hospital

• Mayo Clinic

• Cleveland Clinic

• Cedars-Sinai

• Massachusetts General Hospital

• UCSF Health

• NewYork-Presbyterian Hospital

• Brigham and Women's Hospital

• Ronald Regan UCLA Medical Center

• Northwestern Memorial Hospital