Inpatient Care - Nigeria | Statista Market Forecast

The Inpatient Care market in Nigeria is expected to see a significant increase in revenue in the coming years.
By 2024, it is projected to reach a revenue of US$3.12bn.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 12.41%, leading to a market volume of US$5.59bn by 2029.
When compared to the global market, United States is expected to generate the highest revenue in the Inpatient Care market sector, with an estimated revenue of US$731.40bn in 2024.
Nigeria's Inpatient Care market is poised to contribute significantly to the overall global market growth.
"Nigeria's inpatient care market is experiencing a surge in demand, driven by a growing population and increased healthcare awareness."

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 Nigeria has experienced significant growth in recent years due to various factors.

Customer preferences: Customers in Nigeria are increasingly seeking high-quality healthcare services, especially in urban areas. This has led to an increase in demand for inpatient care services, as patients prefer to receive treatment in hospitals where they can access specialist care and advanced medical equipment. Additionally, the rising middle class in Nigeria is willing to pay for better quality healthcare services, which has further boosted the demand for inpatient care.

Trends in the market: One of the major trends in the inpatient care market in Nigeria is the increasing adoption of technology. Hospitals are investing in advanced medical equipment and digital health solutions to improve the quality of care and patient outcomes. Additionally, there is a growing trend towards medical tourism, with patients from other African countries coming to Nigeria for medical treatment. This has led to the development of specialized medical facilities that cater to the needs of international patients.

Local special circumstances: Nigeria has a large population and a high burden of disease, which has put pressure on the healthcare system. The government has been investing in healthcare infrastructure and implementing policies to improve access to healthcare services. However, there are still significant gaps in the healthcare system, particularly in rural areas where access to healthcare is limited. This has led to a concentration of healthcare facilities in urban areas, leading to overcrowding and long waiting times.

Underlying macroeconomic factors: Nigeria is the largest economy in Africa, with a growing middle class and a young population. This has created a large market for healthcare services, including inpatient care. Additionally, the government has been implementing policies to attract foreign investment into the healthcare sector, which has led to the development of new healthcare facilities and the expansion of existing ones. However, the healthcare sector in Nigeria still faces significant challenges, including inadequate funding, a shortage of skilled healthcare workers, and poor infrastructure. These challenges will need to be addressed to ensure the sustainable growth of the inpatient care market in Nigeria.

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.