Hospitals - Albania

Albania

The Hospitals market in Albania is projected to reach US$509.90m in revenue by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.71%, resulting in a market volume of US$673.10m by 2029.
In global comparison, United States is expected to generate the highest revenue in the Hospitals market, reaching US$1,501.00bn in 2024.
When considering the total population figures, per person revenues of US$180.40 are generated in Albania in 2024.
Albania's hospital market is witnessing a surge in private healthcare investments, driving the demand for advanced medical technologies and specialized services.

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

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Analyst Opinion

The healthcare industry in Albania has been growing steadily over the years, with a focus on the modernization of hospitals and the improvement of healthcare services.

Customer preferences: Albanian customers are increasingly demanding high-quality healthcare services, which has led to a rise in private healthcare providers. Patients are willing to pay more for better healthcare services, especially in the areas of oncology, cardiology, and orthopedics. However, public hospitals remain the primary healthcare providers for the majority of Albanians due to their affordability.

Trends in the market: One of the main trends in the Albanian Hospitals market is the increasing use of technology in healthcare. Hospitals are investing in advanced medical equipment and digital healthcare systems to improve patient outcomes and reduce costs. Additionally, there has been a growing trend towards medical tourism in Albania, as the country offers affordable healthcare services and high-quality medical treatments.

Local special circumstances: Albania's healthcare system is still in the process of modernization, with many public hospitals lacking basic medical equipment and facilities. This has led to an increase in private healthcare providers, which are able to offer better healthcare services to those who can afford it. However, the government is taking steps to improve the healthcare system by investing in the modernization of public hospitals and increasing the number of healthcare professionals.

Underlying macroeconomic factors: Albania's economy has been growing steadily over the years, with a focus on the development of the tourism and service sectors. This has led to an increase in disposable income and a growing middle class, which has resulted in higher demand for healthcare services. Additionally, Albania's accession to the EU has led to an increase in foreign investment in the healthcare sector, which has contributed to the modernization of hospitals and the improvement of 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.