Inpatient Care - Sri Lanka | Statista Market Forecast

In Sri Lanka, the Inpatient Care market is anticipated to witness a significant increase in revenue, reaching US$914.60m in 2024.
This projection is based on the expected annual growth rate (CAGR 2024-2029) of -0.60%, which will ultimately lead to a market volume of US$887.70m by 2029.
It is worth noting that, in a global context, United States is expected to generate the highest revenue, with an estimated US$731.40bn in 2024.
Despite challenges in infrastructure and funding, Sri Lanka has been making significant progress in expanding and improving its inpatient care services.

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 Sri Lanka has been experiencing significant growth in recent years.

Customer preferences: There is a growing demand for high-quality healthcare services in Sri Lanka, particularly in the Inpatient Care sector. Patients are increasingly seeking out modern facilities with state-of-the-art medical equipment and highly trained medical professionals. Additionally, there is a trend towards more personalized care, with patients seeking out healthcare providers that can offer tailored treatment plans and individualized attention.

Trends in the market: One of the key trends in the Inpatient Care market in Sri Lanka is the increasing adoption of technology. Healthcare providers are investing in advanced medical equipment and digital health solutions to improve patient outcomes and streamline operations. Another trend is the growing popularity of medical tourism, with patients from around the world traveling to Sri Lanka for high-quality, affordable healthcare services.

Local special circumstances: Sri Lanka has a rapidly aging population, which is driving demand for healthcare services. Additionally, the country has a high prevalence of chronic diseases such as diabetes and cardiovascular disease, which require ongoing medical care. The government has made significant investments in the healthcare sector in recent years, which has helped to improve access to care and increase the availability of medical services.

Underlying macroeconomic factors: Sri Lanka's growing economy and rising middle class are also contributing to the growth of the Inpatient Care market. As more people have access to disposable income, they are able to afford higher-quality healthcare services. Additionally, the government has implemented policies to encourage foreign investment in the healthcare sector, which has helped to stimulate growth and innovation. Overall, the Inpatient Care market in Sri Lanka is expected to continue growing in the coming years, driven by a combination of demographic, economic, and technological factors.

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.