Benefits of early disease diagnosis and increasing healthcare expenditure is expected to drive the demand for Europe Hospital market in the forecast period.
According to TechSci Research report, “Europe Hospital Market By Ownership (Public v/s Private) By Type (General, Specialty, Multi- Speciality) By Type of Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds), By Country, Competition, Company Forecast & Opportunities, 2026”, the Europe Hospital market to grow at a steady rate during the forecast period. The increasing prevalence of target diseases including cancer, cardiovascular disorders, diabetes, renal disorders, among others is the major driver in the next five years. Rising healthcare expenditures along with the surge in the Hospital chains is influencing the Hospital market growth in the region.
The rise in awareness regarding advanced diagnostic technologies and the need to detect diseases at early stages that can aid to provide effective treatment is expected to boost the market growth. The rise in disposable income due to an increase in per capita income is aiding the patients to increase the affordability to avail the quality healthcare services. Changing lifestyle of patients and an increase in the adoption of unhealthy eating habits including consumption of junk food and high sugar-containing edible food items and beverages is giving rise to a number of diseases that require treatment from healthcare facilities. Leading authorities are providing the European Health Insurance Card which encourages the patients to avail the costly healthcare services with the help of government financing is contributing significantly to the surge the demand for Hospitals in Europe.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Leading authorities in Europe imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities increased the capacity of Hospitals as a greater number of patients were getting affected daily and getting admitted into the Hospital facilities. The demand for critical care devices increased during this period. Collaborations between the healthcare and non-healthcare industries to increase the capacity and increasing advancement of healthcare facilities are expected to foster the growth of Hospital growth.
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Europe Hospital market is segmented into ownership, type, type of services, bed capacity, regional distribution, and company. Based on the type of services, the market can be further bifurcated into in-patient services and out-patient services. The out-patient services segment is expected to witness growth for the forecast period, 2022-2026. Out-patient service comprises tests, services, medical procedures, among others which can be provided to patients without the need to stay in healthcare facilities. Shorter patients stay in healthcare facilities and the high cost involved with in-patient services is expected to augment the out-patient services segment growth.
Advancement in surgical procedures along with the rising preference for minimally invasive treatment and services owing to its several benefits is expected to contribute to the growth of this segment. Based on type, the market can be divided into general, specialty, and multi- speciality. The multi-speciality segment is expected to witness significant growth during the forecast period as patients prefer to visit the hospitals where they can treat different diseases in a single place along with the facility for test and diagnostic procedures. Rising affordability along with supportive government policies is further aiding the hospitals market growth.
HCA Healthcare UK, Fresenius SE & Co. KGaA, Spire Healthcare Group plc, Orpea Group, Asklepios Klinik Barmbek, Sana Kliniken AG, San Donato Group (Gruppo San Donato), among others are the leading players operating in Europe Hospital Market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several Hospital manufacturers are coming up with their technologically advanced offerings.
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“The rise in investments by the government and the presence of advanced infrastructure in countries like Sweden, France, United Kingdom to adopt next-generation health informatics applications to build smart Hospitals is expected to create lucrative opportunities for market growth. Smart Hospitals use artificial intelligence and the internet of things technology to connect devices with each other to provide improved results by continuous monitoring and using real-time analytics to get instant notifications and alerts to patients and healthcare professionals. Also, it can transfer the patient data and minimize the risks which could adversely affect the health of patients is anticipated to propel the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Hospital Market By Ownership (Public v/s Private) By Type (General, Specialty, Multi- Speciality) By Type of Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds), By Country, Competition, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of Europe Hospital market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Europe Hospital market.
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