Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.1 % over the past five years, to reach an estimated $64.7bn in 2024.
Trends and Insights
Diversity in funding and services shields hospital performance from demand shifts
- Volatility in Medicare and Medicaid funding, declines in the number of people with health insurance and decreases in per capita disposable income prompted volatility in specialty hospital demand. In 2020, per capita disposable income experienced a drop of 0.6%, following 8 years of positive growth, while a 5.7% 2021 drop followed federal funding's 2020's 14.9% boost. However, these fluctuations did not halt overall growth over the past five years, which grew at 2.1%.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Technology is a two-edge sword altering the competitive landscape
- New technologies boost efficiency by simplifying administrative tasks, enhancing diagnostic accuracy, predicting patient outcomes and customizing treatments. Telemedicine extends a hospital's reach and increases competition, which can lower prices in competitive markets, impacting revenue. However, AI contributes to early disease detection and diagnosis while reducing operational costs and preserving revenue.
Biggest companies in the Specialty Hospitals in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Memorial Sloan Kettering Cancer Center | 6,915.4 | 63.9 | 0.9 | |
Encompass Health Corporation | 5,360.8 | 451.1 | 8.4 | |
Select Medical Holdings Corp | 3,479.5 | 304.8 | 8.8 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Cancer treatment, Long-term acute care and Diseases of the circulatory system. Cancer treatment is the largest segment of the Specialty Hospitals in the US.
Trends and Insights
Cancer treatment is the largest service provided by specialty hospitals
- The largest area of patient care is the treatment of cancer and tumors. Many specialty hospitals that offer this care are cancer hospitals, such as Memorial Sloan Kettering. These hospitals have higher costs but are best equipped to treat cancer.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
This industry includes companies that provide diagnostic and medical treatment to inpatients with specific diseases or medical conditions. Specialty hospitals primarily provide long-term care for the chronically ill and offer rehabilitation, restorative and adjunctive services to physically challenged or disabled people. The industry excludes specialty units within general hospitals or psychiatric or substance-abuse hospitals.
What's included in this industry?
Cancer treatmentLong-term acute careDiseases of the circulatory systemDiseases of the respiratory systemDiseases of the musculoskeletal system Injury and poisoningDiagnosisCompanies
Memorial Sloan Kettering Cancer CenterEncompass Health CorporationSelect Medical Holdings CorpPurchase this report to view all 4 major companies in this industry.
Related Terms
INPATIENTOUTPATIENTACUITYOCCUPANCY RATELONG-TERM ACUTE CARE (LTAC) HOSPITALINPATIENT REHABILITATION FACILITY (IRF)ACCOUNTABLE CARE ORGANIZATIONIndustry Code
NAICS 62231 - Specialty Hospitals in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Consolidation affords enhanced bargaining power when negotiating with health insurers. Smaller specialty hospitals are disadvantaged compared to general hospitals in negotiat...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Cancer treatment is the most in-demand offering among specialized hospitals. Hospitals specializing in patients, women’s or children’s hospitals may also offer cancer treatme...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
State Certificate of Need (CON) laws approve new hospital projects but can stifle entry and expansion. The Southwest and Southeast states are popular locations for specialty ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
As the rate of innovation takes off, competition will heat up. Specialty hospitals will feel pressure to adopt new technologies and techniques that larger general hospitals w...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Specialty hospitals will have better opportunities for PE investments. The recent trend of investing in specialty practices and combining them into regional markets has incre...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Memorial Sloan Kettering Cancer Center's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Encompass Health Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Select Medical Holdings Corp's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Memorial Sloan Kettering Cancer Center, and factors influencing its performance in the industry
- Description and key data for Encompass Health Corporation, and factors influencing its performance in the industry
- Description and key data for Select Medical Holdings Corp, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Relaxed telehealth restrictions will boost revenue. Broad markets will allow hospitals to spread technology costs over an expanded revenue base.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Investment in new technology will reduce labor costs. Technology, big data, AI and remote services will reduce costs by making all employees more efficient and increase reven...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Specialty Hospitals in the US industry in United States in 2024?
The market size of the Specialty Hospitals in the US industry in United States is $64.7bn in 2024.
How many businesses are there in the Specialty Hospitals in the US industry in 2024?
There are 317 businesses in the Specialty Hospitals in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Specialty Hospitals in the US industry in United States grown or declined over the past 5 years?
The market size of the Specialty Hospitals in the US industry in United States has been growing at a CAGR of 2.1 % between 2019 and 2024.
What is the forecast growth of the Specialty Hospitals in the US industry in United States over the next 5 years?
Over the next five years, the Specialty Hospitals in the US industry in United States is expected to grow.
What are the biggest companies in the Specialty Hospitals in the US market in United States?
The biggest companies operating in the Specialty Hospitals market in United States are Memorial Sloan Kettering Cancer Center, Encompass Health Corporation and Select Medical Holdings Corp
What does the Specialty Hospitals in the US in United States include?
Cancer treatment and Long-term acute care are part of the Specialty Hospitals in the US industry.
Which companies have the highest market share in the Specialty Hospitals in the US in United States?
The company holding the most market share in United States is Memorial Sloan Kettering Cancer Center.
How competitive is the Specialty Hospitals in the US industry in United States?
The level of competition is moderate and steady in the Specialty Hospitals in the US industry in United States.
Related Industries
Widen your competitive advantage with related industries
Competitors
International industries
View all industries in United States
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
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:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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