Hospitals

The Baltics is projected to witness a significant increase in revenue within the Hospitals market, with an estimated value of US$3.94bn in 2024.
This demonstrates the country's growing focus on healthcare services.
Moreover, it is anticipated that the industry will experience a steady annual growth rate of 4.67% between 2024 and 2029, resulting in a market volume of US$4.96bn by 2029.
This reflects the Baltics' commitment to providing quality healthcare to its population.
In a global context, it is worth noting that United States is expected to generate the highest revenue within the Hospitals market, reaching a staggering US$1.50tn in 2024.
This indicates the country's dominant position in the global healthcare industry.
When considering revenue per person, the Baltics' performance is noteworthy.
In 2024, the country is projected to generate revenues of US$677.20 per individual.
This figure highlights the significant contribution of the Hospitals market to the overall economy and underscores the importance of healthcare services in the Baltics.
In the Baltics, hospitals are increasingly embracing telemedicine to bridge the gap between urban centers and rural areas.

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 the Baltics has been experiencing significant growth in recent years, with the hospitals market being a key player in this development.

Customer preferences: Customers in the Baltics are increasingly seeking high-quality healthcare services, with a particular focus on hospitals that offer modern medical equipment and facilities. Patients are also looking for hospitals that provide a wide range of services, including specialized treatments and procedures. Additionally, there is a growing demand for hospitals that offer personalized care and treatment plans.

Trends in the market: One of the major trends in the hospitals market in the Baltics is the increasing investment in healthcare infrastructure. Many hospitals are expanding their facilities and upgrading their medical equipment to meet the growing demand for high-quality healthcare services. Another trend is the adoption of digital technologies and electronic health records, which are improving the efficiency and effectiveness of healthcare delivery. Additionally, there is a growing trend towards medical tourism, with many patients from other countries seeking healthcare services in the Baltics due to the high quality of care and lower costs compared to other European countries.

Local special circumstances: The Baltics have a unique healthcare system, with a mix of public and private hospitals. Private hospitals are becoming increasingly popular due to their modern facilities and personalized care. However, public hospitals still play a significant role in providing healthcare services, particularly in rural areas where private hospitals are less common. Additionally, the Baltics have a relatively low population density, which can make it challenging for hospitals to reach patients in remote areas.

Underlying macroeconomic factors: The growth of the hospitals market in the Baltics is being driven by several macroeconomic factors, including increasing healthcare spending and a growing population. The Baltics have experienced strong economic growth in recent years, which has led to increased government spending on healthcare. Additionally, the aging population in the Baltics is driving demand for healthcare services, particularly in areas such as long-term care and chronic disease management. Finally, the Baltics have a highly educated workforce, which is helping to drive innovation and technological advancements in the healthcare industry.

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.