Hospitals - Africa

Africa

The Hospitals market in Africa is expected to witness significant growth in the coming years.
According to projections, the revenue of this market is anticipated to reach a staggering US$48.46bn by 2024.
This growth is expected to continue at an annual growth rate of 5.57% (CAGR 2024-2029), resulting in a market volume of US$63.54bn by 2029.
When compared to other countries globally, United States is expected to generate the highest revenue in the Hospitals market, with an estimated revenue of US$1,501.00bn in 2024.
In terms of per person revenues, in 2024, the Hospitals market in Africa is projected to generate approximately US$37.28 per person.
This indicates the significant contribution of the Hospitals market sector to the overall economy of the continent.
In Kenya, private hospitals are seeing a surge in demand as more people seek high-quality healthcare services.

Key regions: United States, China, Germany, Japan, Europe

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Analyst Opinion

The healthcare sector in Africa has been growing rapidly in recent years, with the hospitals market being a key component of this growth.

Customer preferences: Customers in Africa are increasingly demanding high-quality healthcare services, with a focus on modern facilities, advanced medical equipment, and well-trained medical professionals. Patients are also seeking out hospitals that offer specialized services, such as cancer treatment, neurology, and cardiology.

Trends in the market: One of the major trends in the hospitals market in Africa is the increasing investment in healthcare infrastructure. Governments and private investors are investing heavily in building new hospitals and upgrading existing facilities to meet the growing demand for healthcare services. Another trend is the adoption of technology in healthcare delivery, including the use of telemedicine, electronic health records, and mobile health services.

Local special circumstances: The hospitals market in Africa is diverse and complex, with significant variation in healthcare infrastructure, availability of medical professionals, and healthcare financing across different countries and regions. In some countries, such as South Africa and Egypt, the hospitals market is relatively well-developed, with modern facilities and advanced medical equipment. In other countries, such as Chad and Niger, the healthcare infrastructure is much less developed, with limited access to healthcare services.

Underlying macroeconomic factors: The growth of the hospitals market in Africa is being driven by a combination of factors, including population growth, urbanization, and rising incomes. As the population grows and becomes more urbanized, the demand for healthcare services is increasing. Rising incomes are also enabling more people to access healthcare services, including private hospitals and clinics. Additionally, the increasing prevalence of non-communicable diseases, such as diabetes and heart disease, is driving demand for specialized healthcare services.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.