Patient Care Services Market Share Growth Factors To 2030

According to the Market Statsville Group (MSG), the global patient care services market size is expected to grow from USD 1,035.4 billion in 2022 to USD 2,488.9 billion by 2033, at a CAGR of 8.3% from 2023 to 2033.

The adoption of sedentary lifestyles and irregular routine healthcare checkups in emerging and developed countries, increasing lifestyle-related chronic diseases such as heart disease, obesity, and diabetes, boosts the patient care service market. For instance, according to the American Heart Association, the number of deaths that occurred due to cardiovascular diseases was 17.6 million in 2016, projected to rise to over 23.6 million by 2030. According to the International Diabetic Federation, the number of diabetic patients is growing significantly. As per the above figure, around 425 million diabetic patients were reported in 2015 globally, whereas these numbers are estimated to grow to about 578 million by 2030 and about 700 million by 2045. 

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Global Patient Care Services Market Dynamics

Drivers: Growing Geriatric Population

A significant increase in the global geriatric population has increased the demand for skilled patient care services. According to the World Health Organization, by 2030, one in every six people on the planet will be 60 or older. At this point, the proportion of the population aged 60 and up will rise from 1 billion in 2020 to 1.4 billion. By 2050, the world's population of people aged 60 and up will have doubled (2.1 billion). The number of people aged 80 and up is expected to triple between 2020 and 2050, reaching 426 million. This increase in the elderly population will eventually lead to greater use of geriatric care services, boosting the market growth.

Scope of the Global Patient Care Services Market

The study categorizes the patient care services market based on service type, hospital type and service area at the regional and global levels.

By Service Type Outlook (Sales, USD Billion, 2019-2033)

• Outpatient Services
• Inpatient Service

By Hospital Type Outlook (Sales, USD Billion, 2019-2033)

• State-owned Hospital
• Private Hospital
• Public/ Community Hospital

By Service Area Outlook (Sales, USD Billion, 2019-2033)

• Cardiovascular
• Acute Care
• Cancer Care
• Diagnostics, and Imaging
• Neurorehabilitation & Psychiatry Services
• Gynecology
• Others

By Region Outlook (Sales, USD Billion, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

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Public Hospital segment accounts for the largest market share during the forecast period by Hospital Type

Based on the hospital type, the market is bifurcated into state-owned hospital, private hospital and public/ community hospital. The public/ community hospital segment accounts for a larger revenue share in 2022. Public hospitals, which receive some or all of their funding from a public municipality, are very accommodating and accept almost all insurance plans. In general, they are less expensive than private facilities. They can accommodate more patients at once since they have a considerably higher number of beds. Those without insurance typically do better at a public hospital as they typically provide more care for an emergency department patient without insurance than a private hospital would.

North America is projected to account for the highest market share by Region

Based on the regions, the global patient care services market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America is expected to witness the highest market share in 2022, owing to the high adoption of patient care services in the US and Canada. The region's market is anticipated to develop due to the rising prevalence of cancer and rising healthcare costs in the area. In addition, the region's established medical facilities and healthcare infrastructure are expected to help it continue its leadership during the predicted period. Due to significant potential government investments for enhancing their healthcare infrastructure, emerging nations in the Middle East, Africa, Latin America, and Asia Pacific are anticipated to drive the regional market growth over the forecast period..

Key Market Players in the Global Patient Care Services Market

The patient care services market is extremely cutthroat, and significant competitors in the sector are using tactics including product development, collaborations, acquisitions, agreements, and growth to bolster their market positions. Most sector businesses focus on growing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global patient care services market are:

• Mayo Clinic
• HCA Healthcare
• Cleveland Clinic
• Spire Healthcare Group plc
• Ramsay Health Care
• Ascension Health
• Community Health Systems, Inc.
• Tenet Healthcare
• Fortis Healthcare

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Recent Developments

• In August 2022, HCA Healthcare, Inc. announced a collaboration with Johnson & Johnson to address key healthcare industry issues. This collaboration will focus on enhancing nursing support, improving health equity, and improving various patient outcomes
• In July 2022, A 10-year agreement between Mercy and Mayo Clinic is aimed at determining the most efficient illness prevention and treatment methods using data science and deidentified patient outcomes. The two health organizations will share de-identified clinical data and treatment outcomes from integrated EHRs that span more than ten years as part of their agreement.
• In June 2020, The Mayo Clinic unveiled a new care model that will enable patients to receive complex, creative care from the comfort of their homes. Patients with diseases that were previously managed in a hospital setting will have the choice to move to a home environment and receive kind, superior virtual and in-person care and recovery services through advanced care at home.