Key regions: United States, China, Germany, Japan, Europe
As ASEAN countries continue to develop and grow, the healthcare industry, particularly the hospitals market, is also on the rise.
Customer preferences: Customers in ASEAN countries have shown a preference for hospitals that offer high-quality care, advanced medical technology, and a wide range of services. They also value hospitals that are easily accessible and offer affordable prices. Patients are increasingly seeking out hospitals that provide specialized care in areas such as oncology, cardiology, and neurology.
Trends in the market: In Indonesia, the hospitals market is growing rapidly due to an increase in government spending on healthcare and a rise in medical tourism. Private hospitals are also expanding and investing in new technology to attract patients. In Thailand, the hospitals market is benefiting from the country's aging population and the rise in chronic diseases such as diabetes and heart disease. Hospitals are investing in telemedicine and digital health solutions to improve patient outcomes. In Malaysia, the hospitals market is seeing growth in medical tourism, particularly for cosmetic surgery and fertility treatments. The government is also investing in healthcare infrastructure to improve access to care in rural areas.
Local special circumstances: In the Philippines, the hospitals market is facing challenges due to a shortage of healthcare professionals and inadequate healthcare infrastructure in some areas. However, the government is investing in healthcare and implementing reforms to address these issues. In Vietnam, the hospitals market is growing rapidly due to an increase in government spending on healthcare and a rise in medical tourism. However, there are concerns about the quality of care in some hospitals and a shortage of healthcare professionals in rural areas.
Underlying macroeconomic factors: The hospitals market in ASEAN is being driven by several macroeconomic factors, including population growth, rising incomes, and increasing healthcare spending by governments. The rise of medical tourism is also contributing to the growth of the hospitals market in some countries. However, there are also challenges such as a shortage of healthcare professionals and inadequate healthcare infrastructure in some areas. Overall, the hospitals market in ASEAN is expected to continue growing in the coming years as the region continues to develop and invest in healthcare.
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.
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