Hospitals - Algeria

Algeria

In Algeria, the Hospitals market is expected to see a projected revenue of US$6.14bn in 2024.
This revenue is anticipated to have an annual growth rate (CAGR 2024-2029) of 2.21%, leading to a market volume of US$6.85bn by 2029.
When compared globally, United States is projected to generate the highest revenue in the Hospitals market, with US$1,501.00bn in 2024.
In terms of per capita revenue, in 2024, in Algeria is expected to generate US$132.60 per person.
Algeria's hospital market is witnessing a growing demand for specialized healthcare services due to an aging population.

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

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Currency

Analyst Opinion

The healthcare industry in Algeria has been experiencing a steady growth in recent years, with the Hospitals market being a key component of the sector.

Customer preferences: Algerian customers have a strong preference for public healthcare facilities, which account for the majority of the country's hospitals. However, there has been a growing trend towards private hospitals, particularly in urban areas, due to the perceived higher quality of care and shorter wait times.

Trends in the market: The Hospitals market in Algeria is expected to continue growing in the coming years, driven by increasing demand for healthcare services due to a growing population and rising incidence of chronic diseases. Additionally, the government has been investing in the healthcare sector, with plans to build new hospitals and upgrade existing ones.

Local special circumstances: Algeria's healthcare system is heavily subsidized by the government, with most hospitals being publicly owned and operated. However, the quality of care in public hospitals has been a concern, leading to a growing demand for private healthcare services. Additionally, the country has a shortage of healthcare professionals, particularly in rural areas, which can limit access to healthcare services for some populations.

Underlying macroeconomic factors: Algeria's economy has been heavily reliant on oil and gas exports, which account for the majority of the country's revenue. However, declining oil prices in recent years have led to economic challenges, including budget cuts for the healthcare sector. Despite this, the government has continued to invest in the healthcare industry, recognizing its importance for the country's development.

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.