Key regions: United States, China, Germany, Japan, Europe
The healthcare sector in Bhutan has undergone significant transformations over the past few years, with the government's focus on improving the country's healthcare infrastructure and facilities.
Customer preferences: Bhutan has a predominantly rural population, and the majority of the people live in remote areas with limited access to healthcare facilities. As a result, there is a growing demand for healthcare services in the country, especially in rural areas. Patients in Bhutan tend to prefer traditional medicine, which is deeply rooted in the country's culture and history. However, with the increasing availability of modern healthcare facilities, the demand for Western medicine is also on the rise.
Trends in the market: The healthcare sector in Bhutan has been growing steadily, with the government investing heavily in the development of new hospitals and healthcare facilities across the country. In recent years, there has been a significant increase in the number of private hospitals and clinics, which has led to increased competition in the market. The demand for specialized healthcare services such as cardiology, neurology, and oncology has also been on the rise. Another trend in the market is the increasing use of technology in healthcare, with the adoption of electronic health records and telemedicine services.
Local special circumstances: Bhutan has a unique healthcare system that combines traditional medicine with modern Western medicine. The government has established the Traditional Medicine Department to promote and preserve traditional medicine practices in the country. This has led to the development of a unique healthcare system that is both holistic and effective. Additionally, Bhutan has a Gross National Happiness (GNH) index that measures the overall well-being of the population, including their physical and mental health. This has led to a greater emphasis on preventive healthcare and wellness programs in the country.
Underlying macroeconomic factors: Bhutan is a small, landlocked country with a relatively small economy. However, the government has been investing heavily in infrastructure development, including healthcare facilities, which has led to increased economic growth in recent years. Additionally, Bhutan has a young and growing population, which has contributed to the increasing demand for healthcare services. The country's strategic location between India and China also presents opportunities for the development of medical tourism in the future.
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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