Hospitals

The Hospitals market in Guinea is expected to generate a revenue of US$329.10m in 2024.
This revenue is projected to grow at an annual growth rate of 4.77% (CAGR 2024-2029), resulting in a market volume of US$415.50m by 2029.
When compared globally, United States is expected to generate the highest revenue, reaching US$1.50tn in 2024.
In terms of per person revenue, in Guinea is projected to generate US$22.65 in 2024.
In Guinea, hospitals are facing challenges in providing adequate healthcare services due to limited resources and infrastructure.

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

The healthcare industry in Guinea has been developing at a steady pace in the last few years.

Customer preferences: Guineans have shown a preference for traditional medicine, which has been a significant challenge for the country's healthcare system. However, the trend is slowly changing as the population becomes more aware of the benefits of modern medicine. The demand for quality healthcare services has been increasing, particularly in urban areas.

Trends in the market: The government has been investing in the healthcare sector, and this has led to an increase in the number of hospitals and clinics in the country. Private healthcare providers have also been setting up facilities to cater to the growing demand for quality healthcare services. There has been a trend towards specialization, with hospitals and clinics focusing on specific areas such as cardiology, oncology, and pediatrics.

Local special circumstances: Guinea has been grappling with a shortage of healthcare professionals, which has been a significant challenge for the healthcare sector. The government has been taking steps to address this issue by investing in the training of healthcare professionals. There has also been a trend towards medical tourism, with patients from neighboring countries seeking treatment in Guinea.

Underlying macroeconomic factors: The healthcare sector in Guinea has been influenced by several macroeconomic factors, including economic growth, political stability, and government policies. The country's economy has been growing steadily, which has led to an increase in disposable income and an improvement in the standard of living. Political stability has also been improving, which has led to an increase in foreign investment in the healthcare sector. The government has been implementing policies aimed at improving the healthcare system, which has led to an increase in the number of hospitals and clinics in the country. In conclusion, the healthcare sector in Guinea is developing at a steady pace, driven by an increase in demand for quality healthcare services, government investment, and improving macroeconomic factors. The trend towards specialization and medical tourism is likely to continue in the coming years, and the government's efforts to address the shortage of healthcare professionals will be crucial in sustaining the growth of 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.