Hospitals

In 2024, the projected revenue in the Hospitals market in Estonia is estimated to reach US$1.10bn.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 4.72%, resulting in a market volume of US$1.39bn by 2029.
When compared to other countries globally, United States is forecasted to generate the highest revenue of US$1.50tn in 2024.
In terms of per capita figures, in Estonia is expected to generate revenues of US$836.00 per person in 2024.
The hospital market in Estonia is experiencing a growing demand for telemedicine services due to the country's large rural population and limited access to healthcare facilities.

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 Estonia has been experiencing significant growth in recent years, with the hospitals market being a key contributor to this growth.

Customer preferences: Customers in Estonia have shown a growing preference for private hospitals over public hospitals due to the perceived higher quality of care and shorter wait times. This trend is particularly evident in urban areas where private hospitals are more prevalent. Additionally, there is an increasing demand for specialized medical services such as oncology, cardiology, and neurology.

Trends in the market: The hospitals market in Estonia is expected to continue growing due to several factors. Firstly, the aging population in Estonia is driving demand for healthcare services, including hospital care. Secondly, the government has been investing in the healthcare sector, which has led to the development of new hospitals and upgrades to existing ones. Thirdly, medical tourism is becoming increasingly popular in Estonia, with many patients from neighboring countries seeking medical treatment in Estonia due to the lower cost of medical services compared to their home countries.

Local special circumstances: Estonia has a unique healthcare system where both private and public hospitals coexist. Public hospitals are funded by the government and are free for Estonian citizens, while private hospitals are funded by private individuals or companies and are generally more expensive. Due to the small size of the country, there is a limited number of hospitals, which has led to the development of specialized hospitals that cater to specific medical needs.

Underlying macroeconomic factors: Estonia has a stable economy with a high level of digitalization, which has led to the development of e-health services. This has made it easier for patients to access medical services, including hospital care. Additionally, the government has been investing in the healthcare sector, which has led to the development of new hospitals and upgrades to existing ones. The aging population in Estonia is also driving demand for healthcare services, including hospital care.

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.