Hospitals - Indonesia

Indonesia

The Hospitals market in Indonesia is expected to reach a projected revenue of US$20.95bn by 2024.
This represents a significant growth compared to the previous years.
The market is also expected to maintain an annual growth rate (CAGR 2024-2029) of 6.81%, resulting in a market volume of US$29.12bn by 2029.
When compared globally, it is worth noting that United States is projected to generate the highest revenue in the Hospitals market, with an estimated revenue of US$1,501.00bn in 2024.
This highlights the significant market size and potential United States.
In terms of per person revenues, in Indonesia is projected to generate approximately US$74.87 in 2024.
This figure indicates the average revenue generated per person in relation to the total population.
Overall, the Hospitals market in Indonesia is expected to experience steady growth in the coming years, with significant revenue potential and opportunities for expansion.
Indonesia's hospital market is witnessing a growing demand for specialized services, with a focus on expanding healthcare access to remote areas.

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

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Analyst Opinion

The healthcare industry in Indonesia has been growing steadily over the years, and the hospitals market is no exception.

Customer preferences: Indonesian customers have been increasingly demanding better quality healthcare services, which has led to the growth of the private hospitals market. Patients are willing to pay a premium for better facilities, equipment, and medical professionals. Additionally, the rise of medical tourism in the country has also contributed to the growth of the hospitals market, as foreign patients seek high-quality medical treatments in Indonesia.

Trends in the market: One of the key trends in the hospitals market in Indonesia is the increasing number of private hospitals. These hospitals are equipped with state-of-the-art medical facilities and offer a range of services, from basic medical check-ups to complex surgeries. Another trend is the adoption of digital technology in the healthcare sector, which has led to the development of telemedicine services and online consultations.

Local special circumstances: Indonesia is a vast archipelago with a population of over 270 million people. The country has a diverse healthcare system, with public and private hospitals catering to different segments of the population. While public hospitals are more affordable, they are often overcrowded and understaffed, leading to long waiting times and low-quality care. On the other hand, private hospitals are more expensive but offer better facilities and services.

Underlying macroeconomic factors: Indonesia's healthcare industry is being driven by several macroeconomic factors, including the country's growing middle class, rising disposable incomes, and increasing government spending on healthcare. The government has been investing heavily in the healthcare sector, with a focus on improving access to healthcare services, upgrading medical facilities, and training medical professionals. Additionally, the country's rapidly aging population is also driving demand for healthcare services, particularly in the areas of chronic disease management and elderly care.

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.