Inpatient Care - Philippines | Statista Market Forecast

The Philippines is expected to witness significant growth in the Inpatient Care market.
Revenue in this market is projected to reach US$3.66bn in 2024.
Furthermore, the market is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 8.85%, leading to a market volume of US$5.59bn by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue, amounting to US$731.40bn in 2024.
In the Philippines, the current trend in the inpatient care market is the increasing demand for specialized medical treatments and facilities.

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 Philippines is experiencing significant growth in recent years.

Customer preferences: Customers in the Philippines are increasingly seeking high-quality medical care that is affordable and accessible. Patients are also becoming more informed and proactive in their healthcare decisions, leading to a greater demand for personalized and specialized treatment options.

Trends in the market: One major trend in the Inpatient Care market in Philippines is the growing popularity of medical tourism. Many patients from other countries are choosing to travel to the Philippines for medical treatment due to its affordable prices and high-quality care. Additionally, there is a shift towards outpatient care as patients prefer to receive treatment in a more convenient and cost-effective manner.

Local special circumstances: The Philippines has a large population with a high incidence of chronic diseases such as diabetes and hypertension. This has led to an increased demand for specialized treatment options and facilities. Additionally, the country's location makes it an attractive destination for medical tourism, which has contributed to the growth of the Inpatient Care market.

Underlying macroeconomic factors: The Philippine government has invested heavily in healthcare infrastructure and technology in recent years, which has helped to drive growth in the Inpatient Care market. Additionally, the country's strong economic growth and increasing middle class have led to greater demand for healthcare services. However, there are still challenges in terms of access to healthcare in more rural areas and affordability for lower-income populations.

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.