$1.3tr
$XX.Xbn
6m
2,615
$XXX.Xbn
Hospitals have a central role in healthcare delivery in the United States. As the frontline for specialized and emergency care, hospitals receive patient streams regardless of economic conditions, but rising incomes and broader insurance coverage facilitate access to elective care. Since the onset of the COVID-19 pandemic in 2020, hospitals have coped with persistent and unprecedented challenges to their resources, finances and workforce. Federal policies and billions in funding directed to hospitals alleviated the initial financial impact stemming from delays in elective care and drops in ER visits. Still, the pandemic took a major toll on supply chains and employees. Relief funding sustained profit between 2020 and 2021, but over half of hospitals slipped into the red as funding fizzled out in 2022. Intense financial pressures facing hospitals have only been escalating in 2023. Revenue has been expanding at a CAGR of 1.1% to an estimated $1.3 trillion over the past five years, including an estimated jump of 3.3% in 2023.
Industry revenue has declined at a CAGR of 0.1 % over the past five years, to reach an estimated $1.3tr in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Hca Healthcare, Inc. | 47,459.5 | 5,943.1 | 12.5 | |
Advocate Health Care Network | 14,062.1 | 593.6 | 4.2 | |
Sutter Health | 13,220.0 | -321.0 | -2.4 |
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Industry revenue is measured across several distinct product and services lines, including Inpatient care, Outpatient care and Other. Inpatient care is the largest segment of the Hospitals in the US.
Hospitals shift away from inpatient care
The Hospital industry includes operators licensed as general medical and surgical hospitals that provide surgical and nonsurgical diagnostic and medical treatment to inpatients. Hospitals maintain inpatient beds and usually provide other services, including outpatient, operating room and pharmacy services. The industry excludes psychiatric and other specialty hospitals.
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NAICS 62211 - Hospitals in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
COVID-19 created unprecedented challenges for hospitals, with hospitals continuing to contend complex workforce, supply chain, operational and financial pressures.
Learn about an industry's products and services, markets and trends in international trade.
Private insurers are hospitals’ largest revenue source. Higher prices for commercial insurers and broader private insurance coverage translate into more revenue for hospitals...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Dense metropolitan areas have the most hospital beds. Large cities with high healthcare needs have more hospitals to keep people-to-bed ratios low.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Hospitals are vital to healthcare delivery, limiting competition from other healthcare providers.
Learn about the performance of the top companies in the industry.
Even as consolidation by major hospital systems enhances market share, no hospital system holds more than 5.0% of the market.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Hospitals operate in one of the most regulated environments in the United States. A dizzying amount of federal, state and local laws; agencies; and regulators oversee hospita...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Financial relief kept hospitals afloat during the COVID-19 pandemic, but margins fell as pandemic relief funds fizzled out in 2022.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Hospitals in the US industry in United States is $1.3tr in 2024.
There are 2,615 businesses in the Hospitals in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
The market size of the Hospitals in the US industry in United States has been declining at a CAGR of 0.1 % between 2019 and 2024.
Over the next five years, the Hospitals in the US industry in United States is expected to grow.
The biggest companies operating in the Hospitals market in United States are Hca Healthcare, Inc., Advocate Health Care Network and Sutter Health
Providing inpatient care and Providing outpatient care are part of the Hospitals in the US industry.
The company holding the most market share in United States is Hca Healthcare, Inc..
The level of competition is low and steady in the Hospitals in the US industry in United States.