Hospital Services Market - Databook 2025 to 2034

The global hospital services market size accounted for USD 12,330 billion in 2024 and is predicted to touch around USD 94,590 billion by 2034, growing at a CAGR of 22.6% from 2025 to 2034.

Highlights of the Hospital Services Market

• North America dominated the hospital services market in 2024.
• Europe is expected to show the fastest growth in the forecasted period of 2025-2034.
• By hospital, the public/ community hospital segment accounted for a considerable share of the market in 2024.
• By hospital, the private hospital segment is expected to grow at the fastest rate in the market during the forecast period of 2025 to 2034.
• By service type, the inpatient services segment registered its dominance over the market in 2024.
• By service type, the outpatient services segment is projected to experience the highest growth rate in the market between 2025 and 2034
• By service areas, the cardiovascular segment maintained a leading position in the market in 2024
• By service areas, the neurorehabilitation & psychiatry services segment is set to experience the fastest market growth from 2025 to 2034.

Industry Valuation and Growth Rate Projection

The hospital services market is that segment of the larger healthcare sector that comprises essential services provided by healthcare institutions, hospitals, and clinics. The services provided can be majorly classified into two segments: inpatient and outpatient. The market has experienced rapid growth after the pandemic and continues to grow further with technological advancements like digital health adoption, telemedicine growth, artificial intelligence, and improvised quality in treatment and diagnostics for the patient.

With an overall increase in human lifespans due to a global transformation of the healthcare landscape, the healthcare services sector aims to provide quality healthcare with a continued increase in healthcare infrastructure to accommodate a greater number of patients for treatment. The government equally makes an effort to regulate the healthcare services market for smooth operations with healthcare policies and insurance regulations.

 Hospital Services Market: Stats and Figures

• COVID-19 ranked among the top three leading causes of death globally in 2020 and 2021.
• The number of hospitals in India has increased from 43,500 in 2019 to 54,000 in 2024, with the highest increase of 27% in private hospitals, from 30,000 in 2019 to 38,000 in 2024.
• According to reports by Ascension Health on maternal health outcomes, Ascension’s PC-07 maternal morbidity and mortality rate for all patients, from October 2022 to 2023, was 20.48% below the national average, standing at 198 per 10,000 deliveries compared to the national average of 249 per 10,000 deliveries (p<0.00001).

How AI has Benefitted the Hospital Services market

• Artificial Intelligence (AI) has contributed to the growth of the global hospital services market and has helped hospitals increase revenue while minimizing costs.
• AI helps hospitals in reducing costs and increasing efficiency by reducing unnecessary tests and human errors.
• AI assists in drug discovery and efficient production by optimizing clinical trials through predictive analysis.
• AI enhances patient experience through Virtual health assistants, telemedicine, and mental health support by chatbots.
• AI boosts the operational efficiency of the hospital and further reduces waiting time by automating administrative tasks and refining resource allocation.

Industry Leader Announcements

• Sam Hazen, CEO of HCA Healthcare:

“It is an honor to be named a World’s Most Admired Company by Fortune again this year. Recognition on this list underscores our unwavering dedication to our colleagues and patients as we continue to find ways to innovate and improve lives in the communities we serve.”

• Tim L. Hingtgen, Chief Executive Officer of Community Health Systems, Inc.:

“For the third year in a row, we are recognizing the physicians in every community we serve by supporting organizations that improve the health and well-being of underserved individuals.” “We are grateful for the skilled and compassionate care that these physicians provide across our organization. Our Doctors’ Day donations are a small way that we can show our appreciation and make a positive impact in their honor.”

Geographical Insights

North America

North America dominated the hospital services market in 2024. The presence of leading global players in the market with government initiatives with investments and incentives in the healthcare sector boosts the growth of the market. With the aging population and demand for healthcare services, the hospital services market is expanding to reach out to more and more people to cater to their needs. Furthermore, the advanced healthcare infrastructure, strong insurance policies, and a high prevalence of chronic diseases also contribute to the market growth.

Europe

Europe is anticipated to be the fastest-growing market in the forecasted period of 2025-2034. Government expenditure in healthcare infrastructure with policies such as the EU4Health program accounts for the major market held by the region. Furthermore, the aging population, advanced research and innovation with high-quality medical care, and digitization and E-health adoption also play a vital role in the market growth for the region.

APAC

Asia-Pacific region is expected to show rapid growth in the forecasted period. The APAC region accounts for 60% of the world’s population and, therefore, has a huge patient base to serve. The region has experienced a rapid growth in the number of private hospitals, and with urbanization, the region faces many lifestyle-related diseases like diabetes and heart diseases. APAC region has the growth potential to outshine the other regions with the volume to cater healthcare services.

Recent Developments

• In March 2025, Mayo Clinic Laboratories announced their strategic collaboration with Amprion to advance neurodegenerative disease diagnostics to expand access to Amprion's SAAmplify–αSYN (CSF) test across the U.S.
• In April 2025, Ascension Saint Thomas and PathPoint Health announced a strategic joint venture to help individuals prevent and manage metabolic conditions like obesity and diabetics by opening two centers in Nashville and Murfreesboro to offer nutritional planning, advanced diagnostics assessment, medical care and coordination, and exercise & lifestyle counseling.

Competitive Landscape

The hospital services market is a highly competitive market with many leading global players. Some of the leading players in the global hospital services market include Mayo Clinic, HCA Healthcare, Cleveland Clinic, Spire Healthcare Group plc, Ramsay Health Care, Ascension Health, Community Health Systems, Inc., Tenet Healthcare, and Fortis Healthcare.

The hospital services market is dominated by several companies, but the companies that are renowned for their contribution in the market are listed below:

• Company Name: HCA Healthcare
• Year of Incorporation: 1968
• Headquarters: Nashville, Tennessee

HCA Healthcare is the largest non-governmental operator of acute care hospitals in the U.S. The company provides hospital and health care related services such as outpatient surgery, laboratory, radiology, respiratory therapy, cardiology, and physical therapy. The company recorded a revenue of US$70,603 million in 2024.

• Company Name: Tenet Healthcare  
• Year of Incorporation: 1969
• Headquarters: Dallas, Texas

Tenet Healthcare is a leading operator of general hospitals and related care health facilities in numerous states. The company is one of the largest investor-owned healthcare delivery systems in the United States. The company recorded a revenue of US$ 20,665 million in 2024.

• Company Name: Community Health Systems Inc.
• Year of Incorporation: 1985
• Headquarters: Franklin, Tennessee

Community Health Systems Inc. is a leading operator of general acute care hospitals and outpatient facilities across the UK. These hospitals provide a variety of services, including inpatient and outpatient medical services. Community Health Systems Inc. recorded a revenue of US$ 12,634 million in the year 2024.