Hospitals

The Hospitals market in Belgium is expected to reach a projected revenue of US$23.16bn by 2024.
It is further anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 3.08%, leading to a market volume of US$26.95bn by 2029.
When compared globally, United States is projected to generate the highest revenue of US$1.50tn in 2024.
In terms of per capita revenue, in Belgium is expected to generate US$1.98k per person in 2024.
In Belgium, hospitals are increasingly embracing digital healthcare solutions to improve patient care and streamline administrative processes.

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

Belgium is a country with a well-developed healthcare system, and the Hospitals market is an integral part of it.

Customer preferences: Belgian citizens have a high level of trust in their healthcare system, and they value access to quality care. They prefer hospitals that offer a wide range of medical specialties and have state-of-the-art equipment. Patients also expect hospitals to provide personalized care and a comfortable environment during their stay.

Trends in the market: The Hospitals market in Belgium is experiencing a trend towards consolidation, with many smaller hospitals merging with larger ones to improve efficiency and reduce costs. This trend is driven by the increasing demand for specialized care and the need for hospitals to invest in expensive medical equipment and technology. Another trend is the growing importance of outpatient services, which are becoming increasingly popular due to their convenience and lower cost.

Local special circumstances: Belgium has a unique healthcare system that is funded by a combination of public and private sources. Hospitals are mostly publicly funded, but they also receive some funding from private insurance companies. This system has led to a high level of competition between hospitals, which has resulted in a focus on quality and efficiency.

Underlying macroeconomic factors: Belgium has a strong economy and a high standard of living, which has helped to support the growth of the Hospitals market. However, the country also faces challenges such as an aging population and rising healthcare costs. To address these challenges, the government has implemented policies to encourage more efficient use of healthcare resources and to promote preventive care. These policies have had a positive impact on the Hospitals market, as hospitals have had to adapt to changing patient needs and expectations.

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.