Hospitals

The Hospitals market in the Dominican Republic is expected to reach a projected revenue of US$2.59bn in 2024.
This revenue is predicted to experience an annual growth rate (CAGR 2024-2029) of 6.06%, resulting in a market volume of US$3.47bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue in the Hospitals market, reaching US$1.50tn in 2024.
In terms of per capita revenue, in 2024, each person in the Dominican Republic is expected to generate US$226.30 units of revenue.
The Dominican Republic has experienced a surge in private hospital investments, leading to improved healthcare infrastructure and services.

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 Dominican Republic has been growing steadily over the past few years, with a particular focus on the development of the hospitals market.

Customer preferences: Dominicans are increasingly concerned about their health and wellbeing, which has led to a growing demand for high-quality healthcare services. As a result, many people are willing to pay a premium for access to modern facilities and advanced medical technologies.

Trends in the market: One of the key trends in the Dominican hospitals market is the increasing focus on specialized services. Many hospitals are expanding their offerings to include specialized treatments and procedures, such as cancer treatment, orthopedics, and neurology. This trend is being driven by both patient demand and the need for hospitals to differentiate themselves from their competitors.Another trend in the market is the growing popularity of medical tourism. The Dominican Republic has become a popular destination for medical tourists from the United States, Canada, and Europe, who are attracted by the country's high-quality healthcare services at a fraction of the cost of similar treatments in their home countries.

Local special circumstances: One of the unique aspects of the Dominican hospitals market is the dominance of private healthcare providers. The vast majority of hospitals in the country are privately owned and operated, which has led to a highly competitive market. Private hospitals are constantly looking for ways to differentiate themselves from their competitors, which has led to a focus on specialized services and the development of modern facilities.

Underlying macroeconomic factors: The growth of the hospitals market in the Dominican Republic is being driven by a number of underlying macroeconomic factors. The country's economy has been growing steadily over the past few years, which has led to an increase in disposable income and a growing middle class. This has created a larger pool of potential customers for healthcare providers.In addition, the Dominican government has been investing heavily in the healthcare sector, with a particular focus on improving access to healthcare services in rural areas. This has led to the development of new hospitals and healthcare facilities throughout the country, which has further fueled the growth of the hospitals market.Overall, the hospitals market in the Dominican Republic is poised for continued growth in the coming years, driven by increasing customer demand, the development of specialized services, and favorable macroeconomic conditions.

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.