Hospitals - Eastern Asia

Eastern Asia

In Eastern Asia, the Hospitals market is predicted to experience remarkable growth, with projected revenue of US$1.04tn in 2024.
This is expected to be driven by an annual growth rate (CAGR 2024-2029) of 5.36%, resulting in a market volume of US$1.35tn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Hospitals market, reaching US$1,501.00bn in 2024.
Taking into account the total population, this translates to per person revenues of US$636.10 in 2024.
In Eastern Asia, Japan's hospitals are increasingly adopting advanced robotic technology for surgical procedures.

Key regions: United States, China, Germany, Japan, Europe

Market

Region

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Currency

Analyst Opinion

The healthcare industry in Eastern Asia has been growing rapidly in recent years, with the Hospitals market being a significant contributor to this growth.

Customer preferences: One of the main preferences of customers in Eastern Asia is the demand for high-quality medical care. Patients in this region are willing to pay a premium for medical services that are of top-notch quality. Additionally, there is a growing demand for specialized medical services such as oncology, cardiology, and neurology.

Trends in the market: China is the largest market for hospitals in Eastern Asia, with the country's aging population being a key driver of growth. The Chinese government's focus on improving healthcare infrastructure and increasing healthcare spending has also contributed to the growth of the hospitals market in the country. Additionally, the rise of medical tourism in countries like South Korea and Japan has led to an increase in the number of hospitals in these countries.

Local special circumstances: In Japan, the government has been promoting the concept of "regional core hospitals," which are large hospitals that serve as the central medical institution in a particular region. These hospitals are equipped with the latest medical technology and are staffed by highly trained medical professionals. In South Korea, there has been a trend towards the privatization of hospitals, with private hospitals accounting for a significant portion of the country's hospitals market.

Underlying macroeconomic factors: The aging population in Eastern Asia is a significant macroeconomic factor that is driving the growth of the hospitals market. As the population ages, there is an increase in the incidence of chronic diseases, which require specialized medical care. Additionally, the rapid economic growth in the region has led to an increase in disposable income, which has made high-quality medical care more accessible to a larger segment of the population. Finally, the increasing prevalence of lifestyle diseases such as obesity and diabetes has also contributed to the growth of the hospitals market in Eastern Asia.

Methodology

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.