Hospitals

In Gambia, the Hospitals market is expected to generate a projected revenue of US$30.57m in 2024.
It is anticipated that this revenue will experience an annual growth rate of 4.38%, resulting in a market volume of US$37.89m by 2029.
When compared globally, United States is projected to generate the highest revenue in the Hospitals market, reaching US$1.50tn in 2024.
In terms of per capita revenue, in Gambia, each person is expected to generate US$10.76 in revenue in 2024.
Despite facing limited resources, hospitals in Gambia are making commendable efforts to improve healthcare access for all citizens.

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

Gambia, a small West African country, has seen a steady development in its Hospitals market in recent years.

Customer preferences: Gambians have shown a growing preference for private hospitals over public ones. This is due to the perceived better quality of care and faster service delivery in private hospitals. However, public hospitals still remain the primary source of healthcare for most Gambians due to their affordability.

Trends in the market: The Hospitals market in Gambia has seen a surge in the number of private hospitals being established. This is due to the increasing demand for better quality healthcare services and the potential for profitability in the private sector. Additionally, the government has also been encouraging private sector investment in the healthcare industry through various initiatives and policies.

Local special circumstances: Gambia has a relatively small population, which limits the size of the healthcare market. Additionally, the country has a high poverty rate, which affects the affordability of healthcare services for many Gambians. The healthcare industry in Gambia also faces challenges such as inadequate infrastructure, limited medical supplies, and a shortage of qualified healthcare professionals.

Underlying macroeconomic factors: Gambia's economy has been growing at a steady pace in recent years, which has led to an increase in disposable income and a higher demand for better quality healthcare services. The government has also been investing in infrastructure development, which has improved access to healthcare services in some parts of the country. However, the country still faces challenges such as high unemployment rates and limited foreign investment, which could hinder the growth of the healthcare industry in the long run.

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.