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Hospitals - Guatemala

Guatemala
  • The projected revenue in the Hospitals market in Guatemala is expected to reach US$2.11bn by 2024.
  • It is also anticipated to show an annual growth rate (CAGR 2024-2029) of 5.08%, resulting in a market volume of US$2.70bn by 2029.
  • When compared globally, United States is projected to generate the highest revenue, reaching US$1.50tn in 2024.
  • In terms of per person revenues, US$114.90 are generated in 2024 for each individual in Guatemala.
  • The hospital market in Guatemala is experiencing a surge in demand for telemedicine services due to the country's geographic challenges 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.

In-Scope

  • General hospitals, including community, county, and regional hospitals
  • Psychiatric hospitals
  • Specialist hospitals, such as maternity clinics and aesthetics clinics

Out-Of-Scope

  • 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
Hospitals: market data & analysis - Cover

Market Insights report

Hospitals: market data & analysis

Study Details

    Revenue

    Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Analyst Opinion

    The healthcare industry in Guatemala has been growing steadily in recent years, with the hospitals market being a significant contributor to this growth.

    Customer preferences:
    Customers in Guatemala have shown a growing preference for private hospitals due to the perceived higher quality of care and better facilities. This trend is particularly evident in urban areas where there is a higher concentration of private hospitals. However, public hospitals still remain an important part of the healthcare system in Guatemala, especially in rural areas where private hospitals are scarce.

    Trends in the market:
    One of the key trends in the hospitals market in Guatemala is the increasing demand for specialized medical services. This is driven by a growing middle class with higher disposable incomes and a greater awareness of healthcare issues. As a result, hospitals are investing in new technologies and facilities to meet the demand for specialized medical services such as cardiology, oncology, and neurology.Another trend in the market is the growing popularity of medical tourism. Guatemala is becoming an increasingly popular destination for medical tourists from the United States and Canada due to the lower costs of medical procedures and the availability of high-quality medical facilities.

    Local special circumstances:
    One of the unique challenges facing the hospitals market in Guatemala is the high level of poverty in the country. This has led to a significant portion of the population being unable to afford healthcare services, which has put pressure on public hospitals to provide free or subsidized care. In addition, there is a shortage of healthcare professionals in Guatemala, which has led to a reliance on foreign medical personnel to fill the gap.

    Underlying macroeconomic factors:
    The growth of the hospitals market in Guatemala is closely tied to the overall economic growth of the country. Guatemala has experienced steady economic growth in recent years, which has led to an increase in disposable incomes and a growing middle class. In addition, the government has made significant investments in the healthcare sector, which has helped to spur growth in the hospitals market. However, the healthcare system in Guatemala still faces significant challenges, including a lack of funding, infrastructure, and personnel, which could limit the growth of the hospitals market in the future.

    Hospitals

    Most recent update: Apr 2024

    Sources: Statista Market Insights, OECD, WHO, National statistical offices

    Hospital beds

    Most recent update: Apr 2024

    Sources: Statista Market Insights, World Bank, WHO

    Global Comparison

    Most recent update: Apr 2024

    Source: Statista Market Insights

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    U.S. Hospitals - Statistics & Facts

    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.
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