Hospitals

In Ghana, the Hospitals market is expected to witness significant revenue growth.
By 2024, the projected revenue is estimated to reach US$922.80m.
Looking ahead, the market is anticipated to demonstrate a steady annual growth rate (CAGR 2024-2029) of 3.99%.
This growth trajectory is predicted to result in a market volume of US$1.12bn by 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in the Hospitals market.
In 2024, the projected revenue for the United States is an impressive US$1.50tn.
This reflects the country's strong position in the global market.
Taking into account the population figures, the per person revenue in Ghana's Hospitals market is estimated to be US$26.53 in 2024.
This metric provides insight into the economic impact of the market on each individual within the country.
Ghana's hospitals are experiencing a surge in digital health solutions to improve healthcare accessibility and quality.

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

Ghana's healthcare sector has shown a significant improvement in recent years, with the government investing more resources in the sector. The Hospitals market in Ghana has been developing at a steady pace, with several factors contributing to its growth.

Customer preferences: Ghanaians have shown a preference for hospitals that offer quality healthcare services and have modern facilities. Patients are increasingly seeking hospitals that offer specialized medical services, such as cardiology, neurology, and oncology. Additionally, there has been a growing demand for private hospitals, which offer a higher standard of care than public hospitals.

Trends in the market: One of the major trends in the Hospitals market in Ghana is the increasing investment in healthcare infrastructure. The government has been investing in the construction and renovation of hospitals, clinics, and health centers across the country. This has led to an increase in the number of hospitals and healthcare facilities, which has improved access to healthcare for Ghanaians.Another trend in the market is the adoption of technology in healthcare. Hospitals are increasingly using electronic medical records (EMRs), telemedicine, and other digital technologies to improve patient care and enhance operational efficiency. This has led to a more streamlined healthcare system and improved patient outcomes.

Local special circumstances: Ghana's healthcare sector faces several challenges, including inadequate funding, shortage of healthcare professionals, and poor healthcare infrastructure in rural areas. However, the government has been implementing several initiatives to address these challenges, such as increasing funding for healthcare, training more healthcare professionals, and investing in healthcare infrastructure in rural areas.

Underlying macroeconomic factors: Ghana's economy has been growing at a steady pace, with a projected growth rate of 4.9% in 2021. This has led to an increase in disposable income and an expanding middle class, which has contributed to the growth of the Hospitals market in Ghana. Additionally, the government's commitment to improving healthcare has created a favorable environment for investment in the sector.

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.