The Hospital Outsourcing Global Market Report 2023 by The Business Research Company, provides hospital outsourcing market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Hospital Outsourcing Global Market Report 2023, the market size grew from $327.9 billion in 2022 to $375.1 billion in 2023 at a compound annual growth rate (CAGR) of 14.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital outsourcing market size is expected to grow to $612.24 billion in 2027 at a CAGR of 13.0%.
The increase in diabetic patient flow in hospitals is expected to propel the growth of the hospital outsourcing market going forward. Hospitals opt for outsourcing services when there is an increase in patients and the hospital infrastructure is not capable of handling a large number of patients. This is a result of the rise in chronic illnesses, including diabetes, cardiovascular disease, and others, which are increasing the number of patients being admitted to hospitals and, eventually, placing greater pressure on medical procedures.
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The hospital outsourcing market is segmented:
1) By Hospital Type: Private, Public
2) By Hospital Size: Small and Medium Hospitals, Large Hospitals
3) By Services: Healthcare IT, Clinical Services, Business Services, Transportation Services, Other Services
4) By End-Users: Nursing Homes and Assisted Living, Speciality Hospitals, General Medical and Surgical Hospitals, Emergency and Other Outpatient Care Centers, Other End Users
Technology advancements have emerged as the key trend gaining popularity in the hospital outsourcing market. Major companies operating in the hospital outsourcing sector are focused on introducing technological innovations to sustain their position in the market. For instance, in May 2020, HSG Advisors, a US-based national healthcare consulting firm, launched an advanced Virtual Health consulting service which can be used in hospitals, and healthcare systems. This virtual health service helps doctors to visit patients virtually for regular checkups. This is based on AI (artificial intelligence) technology, which helps to book appointments easily and allocate time slots with doctors.
The hospital outsourcing market report table of contents includes:
1. Executive Summary
2. Hospital Outsourcing Market Characteristics
3. Hospital Outsourcing Market Trends And Strategies
4. Hospital Outsourcing Market – Macro Economic Scenario
5. COVID-19 Impact On Hospital Outsourcing Market
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26. Africa Hospital Outsourcing Market
27. Hospital Outsourcing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hospital Outsourcing Market
29. Hospital Outsourcing Market Future Outlook and Potential Analysis
30. Appendix
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