Growing Healthcare Awareness and Demand for Quality Healthcare to Propel Growth of the Global Hospitals Market, According to New Report by Global Industry Analysts, Inc.

San Jose, CA (PRWEB) February 06, 2012

Follow GIA on LinkedIn The world over, hospitals are focused largely on increasing efficiency and offering comprehensive services to retain existing customers and attract new ones. Growing healthcare costs have become a major concern for the government as well as hospitals and insurance companies. Escalating healthcare costs and reduced co-payments by employers for medical benefits led to the establishment of the managed care companies and HMOs, pressurizing hospitals to increase cost-effectiveness. Faced with the increasing costs and declining profits, majority of hospitals have implemented measures, such as providing alternative medicines to patients, and collaborations to form health systems to expand offerings and reduce overall healthcare costs.

Despite the economic slowdown and financial crunch, the number of new hospitals increased significantly since the year 2008. While a well-developed healthcare infrastructure exists in the developed nations, emerging economies also progressively began to make investments in the establishment of hospitals and clinics in order to increase public access to healthcare. The global economic downturn further accelerated the ongoing consolidation activity in the hospitals sector, forcing weaker organizations to merge with the financially sound hospitals.

Increasing demand for hospital beds has largely been driving the increase in the number of hospital construction projects. Additionally, higher spending on new hospital buildings, and technologically advanced equipment, is further driving the US hospital expenditure. The hospital sector continues to remain a low-profit market, characterized by the high operating costs and heightened competition among hospitals.

The hospital information laboratory systems market has been growing at a significant rate in the recent years, driven by growing need to automate electronic patient record systems for transferring patient information rapidly. The growth is also driven by the supply chain automation, which allows hospitals to simultaneously share laboratory results with many service providers. In a further embracement of technology, hospital organizations are establishing health related web portals for both internal and external uses, including connecting patients, lab results, pre-registration, and focusing on disease management and wellness.

With the increasing popularity of medical tourism, hospitals face the heat of increased competition. In an attempt to gain a competitive edge in the market, major hospital operators are focused on establishing offshore hospitals. Growth in the hospital market is expected in all major regions, with double digit growth rates projected in the Chinese and Indian markets.

The research report titled Hospitals: A Global Outlook announced by Global Industry Analysts Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the hospital industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include US, Japan, Europe, Germany, the United Kingdom, Spain, Turkey, Asia-Pacific, Australia, China, India, Korea, Malaysia, Singapore, Thailand, the Middle East, and Africa. The report provides a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of the companies worldwide.

For more details about this comprehensive industry report, please visit

http://www.strategyr.com/Hospitals_Industry_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

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Growing Healthcare Awareness and Demand for Quality Healthcare to Propel Growth of the Global Hospitals Market, According to New Report by Global Industry Analysts, Inc.