Analysis of Acute Care market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest research by Fact.MR., the acute care market is expected to experience robust growth during the forecast period from 2021-2031. The outbreak of the COVID-19 pandemic represents significant growth opportunities as the virus can have a severe impact on an individual's health and may demand the need for acute care. Several countries have experienced elevated demand for acute care post the outbreak of COVID-19. The demand is expected to continue growing during the forecast period as well due to the continued effects of the pandemic. Therefore, the market is expected to grow at a significantly high CAGR.
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The rise in healthcare expenditure in developed countries, as well as developing countries, is accelerating the demand for acute care to a great extent. A large number of countries are aiming to expand their healthcare infrastructure to meet the growing demand for healthcare services.
Increasing trauma cases that require immediate acute care is a major factor contributing to the rise in demand. Road accidents being the prominent reason for trauma cases.
Apart from this, the growing geriatric population that is highly prone to developing various serious diseases is also leading the market towards considerable growth. According to the Rural Health Information Hub, in 2020 there were more than 46 million adults age 65 and above living in the U.S.
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Due to the changing lifestyle, there is a rapid rise in the prevalence of cardiovascular diseases. Adoption of a sedentary lifestyle which involves unhealthy eating habits and lack of exercise are factors contributing to the rise in prevalence of cardiovascular diseases. People suffering from cardiovascular diseases have a higher chance of requiring acute care when their condition deteriorates and becomes quite fatal.
According to CDC, in 2020, an estimated 18.2 million adults age 20 years and older had coronary artery disease, which accounts for almost 6.7% of the U.S. population. This indicates that a larger population suffering from cardiovascular diseases will require acute care. Therefore, it can be concluded that the increasing prevalence of cardiovascular diseases will propel the growth of the acute care market.
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The U.S. is the leading market for acute care due to increased investments in healthcare by the government. Additionally, technologically advancement leading to new innovative products in the healthcare industry that enhances the acute care services is another factor propelling the growth of the U.S. acute care market.
Additionally, the evident rise in cardiovascular diseases in U.S. and Canada is also expected to contribute to the increase in demand
Many countries in Europe have been severely impacted by the COVID-19 pandemic. Countries like Italy where the geriatric population was high experienced unprecedented demand for acute care when the pandemic was at its peak in the country. The pandemic also had a severe negative impact on the UK. Therefore, the sudden outbreak and the fatalities experienced has forced many countries in Europe to focus on healthcare expenditure and infrastructure.
The pandemic has urged these countries to give utmost importance to healthcare. This expected to drive the growth of the European acute care market. Government support for better healthcare facilities and technologically advanced products is expected to further boost the sales of acute care in Europe.
Some of the leading service providers of acute care include
Many service providers in the market are focusing on acquisitions and mergers. Service providers in the market acquire to function effectively and provide better services while reducing the cost incurred to provide the services.
For instance, HCA Holdings, Inc. announced the acquisition of Valify in January 2020. The acquisition was carried out to use Valify’s services that can be used to provide healthcare systems with in-depth analysis and greater insights and provide opportunities to drop the overall cost to provide healthcare services.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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Demand for acute care is anticipated to hold a US$ 2 billion value by 2031.
Increasing investments in healthcare infrastructure development in the Asia Pacific region are slated to drive market growth going forward.
The acute care market is projected to evolve at a 4.9% CAGR across the forecast period.
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