Inpatient Care - Montenegro

Montenegro

The Inpatient Care market in Montenegro is forecasted to achieve a revenue of US$128.50m by the year 2024.
It is anticipated that the revenue will experience an annual growth rate of 2.89% from 2024 to 2029, leading to a market volume of US$148.20m by 2029.
When compared globally, in the United States is expected to generate the highest revenue in the Inpatient Care market, with an estimated amount of US$731.40bn in 2024.
Montenegro's inpatient care market is rapidly expanding, with a focus on improving healthcare infrastructure and increasing access to specialized medical services.

Key regions: United States, Germany, Brazil, United Kingdom, Japan

Market

Region

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Currency

Analyst Opinion

Montenegro, a small country situated in Southeast Europe, has been experiencing a steady growth in its inpatient care market over the past few years.

Customer preferences: Montenegrin patients generally prefer public healthcare facilities over private ones due to the former being more affordable. However, the quality of care in public hospitals is often perceived to be lower than that in private hospitals. As a result, patients who can afford it tend to opt for private healthcare facilities.

Trends in the market: One trend that has been observed in the Montenegrin inpatient care market is the increasing demand for specialized medical services. Patients are becoming more aware of the different types of medical conditions and are seeking specialized treatment for their ailments. This has led to the establishment of new specialized hospitals and clinics, which has in turn driven the growth of the inpatient care market. Another trend is the increasing use of technology in healthcare. Hospitals are investing in new medical equipment and software to improve the quality of care they provide to patients.

Local special circumstances: Montenegro has a relatively small population, which means that the demand for healthcare services is not as high as in larger countries. However, the country is a popular tourist destination, and the influx of tourists during the summer months has led to an increase in demand for healthcare services. This has resulted in the establishment of private hospitals and clinics that cater to tourists.

Underlying macroeconomic factors: Montenegro has been experiencing steady economic growth over the past few years, which has led to an increase in disposable income among its citizens. This has resulted in more people being able to afford private healthcare services. Furthermore, the government has been investing in the healthcare sector, which has led to the improvement of public healthcare facilities. This has in turn increased the confidence of Montenegrin citizens in the country's healthcare system. In conclusion, the Montenegrin inpatient care market has been growing steadily due to increasing demand for specialized medical services, the use of technology in healthcare, and the country's growing economy. While the preference for public healthcare facilities remains strong, the increasing affordability of private healthcare services has led to more patients opting for private hospitals and clinics. The country's small population and popularity as a tourist destination have also contributed to the growth of the inpatient care market.

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 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.