Hospitals - Gambia

Gambia

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 4.39%, resulting in a market volume of US$37.89m by 2029.
When compared globally, in the United States is projected to generate the highest revenue in the Hospitals market, reaching US$1,501.00bn 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.

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

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Currency

Analyst Opinion

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.

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.