Hospitals

In Georgia, the revenue in the Hospitals market is projected to reach US$637.10m in 2024.
This represents a significant economic impact for the country.
Looking ahead, the revenue is expected to show an annual growth rate of 5.14% from 2024 to 2029, resulting in a market volume of US$818.70m by the end of that period.
This growth indicates the potential for further development and expansion in the healthcare sector in Georgia.
When comparing the revenue generated in the Hospitals market on a global scale, it is noteworthy that United States leads the way with a projected revenue of US$1.50tn in 2024.
This highlights the dominance of the US healthcare system and its substantial contribution to the global market.
To put things into perspective, let's consider the per person revenues generated in Georgia's Hospitals market.
In 2024, the revenue per person is estimated to be US$171.40.
This figure demonstrates the financial impact of the healthcare sector on each individual in the country.
Overall, the projected revenue and growth in the Hospitals market in Georgia signify its importance and potential for further development in the years to come.
With a focus on improving healthcare services and infrastructure, the country can continue to thrive in this market.
The hospital market in Georgia is experiencing a surge in medical tourism, attracting patients from neighboring countries seeking high-quality healthcare 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

Georgia, a country located at the intersection of Eastern Europe and Western Asia, has been experiencing a steady growth in its Hospitals market.

Customer preferences: The Georgian population has shown a preference for modern medical technologies and equipment, which has led to an increase in private investment in the Hospitals market. Patients are increasingly seeking out hospitals that offer state-of-the-art medical equipment and facilities, as well as specialized medical services.

Trends in the market: One of the key trends in the Hospitals market in Georgia is the growth of private hospitals and clinics. Private investment in healthcare has increased in recent years, with investors looking to take advantage of the growing demand for high-quality medical services. This has led to the establishment of several new private hospitals and clinics in the country.Another trend in the market is the increasing focus on medical tourism. Georgia has become a popular destination for medical tourists from neighboring countries, who come to take advantage of the country's modern medical facilities and relatively low costs. This has led to an increase in the number of medical tourists visiting the country, and has contributed to the growth of the Hospitals market.

Local special circumstances: Georgia's geographic location has made it a strategic location for medical tourism. The country is located at the crossroads of Europe and Asia, and is easily accessible from many neighboring countries. Additionally, the country has a well-developed transportation infrastructure, which makes it easy for medical tourists to travel to and from the country.

Underlying macroeconomic factors: Georgia's economy has been growing steadily in recent years, which has led to an increase in disposable income and a growing middle class. This has contributed to the growth of the Hospitals market, as more people are able to afford high-quality medical services. Additionally, the government has been investing in the healthcare sector, which has helped to improve the quality of medical services in the country. Overall, the combination of growing demand, private investment, and government support has led to a strong and growing Hospitals market in Georgia.

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.