Hospitals

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$1.50tn 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.

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 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.

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.