Inpatient Care - Iceland | Statista Market Forecast

The Inpatient Care market in Iceland is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$760.00m in 2024.
Furthermore, it is anticipated that the market will experience an annual growth rate of 5.97%, resulting in a market volume of US$1.02bn by 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in the Inpatient Care market.
In 2024, the projected revenue for the United States is a staggering US$731.40bn.
This indicates the dominance of the United States in this market.
In Iceland, the inpatient care market is characterized by a strong emphasis on holistic and natural healing methods.

Definition:
Inpatient Care refers to medical and surgical services provided to patients who are admitted for overnight stays at hospitals. This market covers a wide range of services, such as diagnostics, medical treatments, and surgical treatments. It also includes facilities, nursing care, and other services that are necessary for the patient's recovery and well-being during their hospital stay. However, inpatient long-term care (LTC) for people with LTC needs is not included. Hospital inpatient care is a crucial component of the healthcare industry and is essential for providing high-quality and comprehensive medical care to patients.

Structure:
Inpatient Care covers Neoplasm Treatments, Treatments of Cardiovascular Diseases, Treatments of Musculoskeletal Diseases, Gastroenterology, Midwifery, and Other Inpatient Care. Other Inpatient Care provides information on additional areas that are not covered by the previously mentioned markets.

Additional information:
Inpatient Care comprises revenues, average revenue per capita, number of hospitals, average revenue per hospital, number 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.

Inpatient nursing care
Medical goods for inpatient treatments
Inpatient surgical treatments

Day care
Long-term care
Outpatient care
Home-based care

Iceland, a country known for its stunning natural beauty, has a unique healthcare system that is primarily funded by the government. The Inpatient Care market in Iceland has been developing in a specific way due to various factors.

Customer preferences: Icelanders prefer to receive healthcare services within their country, and the government provides free or low-cost healthcare to its citizens. Private healthcare facilities are also available, but they are not as popular as the public ones.

Trends in the market: The Inpatient Care market in Iceland has been growing due to the increasing demand for healthcare services. The country has an aging population, which requires more medical attention, and the number of chronic diseases is also rising. The government has been investing in healthcare infrastructure to meet the growing demand for services. This has led to the construction of new hospitals and the expansion of existing ones.

Local special circumstances: The unique geography of Iceland also plays a role in the development of the Inpatient Care market. The country has a small population spread across a large area, and some remote areas are only accessible by air or sea. This makes it challenging to provide healthcare services to everyone, and the government has been investing in telemedicine to reach remote areas. Telemedicine is the use of technology to provide medical services remotely, and it has been gaining popularity in Iceland.

Underlying macroeconomic factors: The Icelandic economy has been growing in recent years, which has allowed the government to invest more in healthcare infrastructure. The country's GDP has been increasing, and the unemployment rate has been decreasing. This has led to an increase in disposable income, which has allowed people to spend more on healthcare services.In conclusion, the Inpatient Care market in Iceland has been developing due to the increasing demand for healthcare services, the unique geography of the country, and the government's investment in healthcare infrastructure. The market is expected to continue growing as the population ages and the number of chronic diseases increases.

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 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.