Inpatient Care - Jamaica | Statista Market Forecast

In Jamaica, the revenue in the Inpatient Care market is expected to reach US$328.90m by the year 2024.
Looking ahead, the market is projected to grow at an annual growth rate of 2.52% from 2024 to 2029.
This growth is anticipated to result in a market volume of US$372.50m by 2029.
It is worth noting that in the global market, United States is expected to generate the highest revenue in the Inpatient Care market sector, with a projected revenue of US$731.40bn in 2024.
Jamaica's inpatient care market is experiencing a surge in demand due to the country's growing medical tourism industry.

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

The Inpatient Care market in Jamaica has been showing steady growth in recent years.

Customer preferences: Patients in Jamaica have shown a preference for private healthcare facilities over public ones due to the perceived higher quality of care. This has led to an increase in the number of private hospitals and clinics in the country. Additionally, medical tourism has been on the rise in Jamaica, with patients from the United States and Canada seeking affordable healthcare options in the country.

Trends in the market: One major trend in the Inpatient Care market in Jamaica is the increasing demand for specialized medical services. Patients are seeking out facilities that offer specialized treatments such as oncology, cardiology, and neurology. This has led to an increase in the number of hospitals and clinics that offer these services. Additionally, there has been a trend towards the use of technology in healthcare facilities, with hospitals and clinics investing in electronic medical records, telemedicine, and other digital health solutions.

Local special circumstances: Jamaica's healthcare system faces several challenges, including a shortage of healthcare professionals and limited funding for public healthcare facilities. This has led to a reliance on private healthcare facilities to meet the demand for medical services. Additionally, the country's high poverty rate has made it difficult for many Jamaicans to access healthcare services, particularly those living in rural areas.

Underlying macroeconomic factors: Jamaica's economy has been growing steadily in recent years, with a focus on tourism and other service industries. This has led to an increase in disposable income for many Jamaicans, which has in turn led to an increase in demand for private healthcare services. Additionally, the government has been investing in healthcare infrastructure, with plans to build new hospitals and clinics throughout the country. However, the country's high debt levels and limited fiscal space have made it difficult to fully fund the healthcare system, leading to a reliance on private sector investment.

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.