Hospitals

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$1.50tn 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.

Definition:
Hospitals are licensed facilities that provide a variety of medical and surgical services, some of which are also provided by other facilities. A distinguishing characteristic of hospitals is “inpatient care,” which refers to services where patients are admitted to a hospital to stay overnight for closer monitoring.

This market includes general hospitals, psychiatric hospitals, and specialist hospitals, which provide various services to patients, ranging from diagnostics, medical and surgical treatments, nursing and specialized accommodation to other medical services. Depending on the specific legal regulations, the medical services provided by hospitals can vary greatly from country to country. Long-term care facilities, ambulatory care providers, and medical retailers are excluded from this market.

Structure:
The Hospitals market is divided into three categories: Inpatient Care, Outpatient Care, and Other Hospital Services. Inpatient Care comprises all the medical and surgical services that are provided to patients who are admitted to a hospital for an overnight stay. Outpatient Care covers all medical and surgical services that are provided to patients without having to spend the night in a hospital. Other Hospital Services includes hospital services that are provided outside of a basic hospital setting, e.g., day-care, long-term care, and home-based care.

Additional information:
The shown KPIs include revenues, average revenue per capita, number of hospitals, density of hospitals, average revenue per hospital, number of hospital beds, density of hospital beds, and average revenue per hospital bed. Market values represent revenues paid to hospitals by the respective healthcare payers (including VAT, if applicable). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

General hospitals, including community, county, and regional hospitals
Psychiatric hospitals
Specialist hospitals, such as maternity clinics and aesthetics clinics

Long-term care facilities
Ambulatory care providers, such as specialist practices and dental practices
Providers of ancillary medical services
Medical retailers and other providers of medical supplies

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.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The healthcare landscape in the United States is a complicated one. There are federal health insurance plans for low-income individuals namely Medicaid and CHIP (Children’s health insurance program) and Medicare for seniors and the disabled. Aside from these, people must buy private health insurance or be left uninsured because the U.S. is the only high-income country without universal healthcare coverage. Hospitals in the U.S., therefore, receive payment from multiple payers. Most revenue generated by U.S. hospitals comes from private insurance, self, or other payments. The complexity of this multi-payer system is instrumental to the U.S. having the highest administrative health costs per capita among wealthy nations.