Inpatient Care - Taiwan

Taiwan

The Inpatient Care market in Taiwan is anticipated to witness substantial growth in the coming years.
According to projections, the revenue is expected to reach US$13.81bn in 2024.
This growth is attributed to various factors, including the increasing demand for healthcare services and advancements in medical technology.
Furthermore, the market is expected to exhibit a compound annual growth rate (CAGR) of 2.78% between 2024 and 2029.
By the end of 2029, the market volume is estimated to reach US$15.84bn, reflecting the continuous expansion of the healthcare sector.
In comparison to other countries, in the United States is projected to generate the highest revenue in the Inpatient Care market.
In 2024 alone, in the United States is expected to generate a substantial revenue of US$731.40bn.
This can be attributed to the country's advanced healthcare infrastructure, high healthcare expenditure, and a large population.
Taiwan's inpatient care market is experiencing a rise in demand for traditional Chinese medicine treatments alongside Western medicine.

Key regions: India, Canada, Japan, United Kingdom, Germany

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Analyst Opinion

The Inpatient Care market in Taiwan has been growing steadily in recent years, driven by a number of factors that have contributed to increased demand for healthcare services.

Customer preferences: Taiwan's aging population has led to an increase in demand for healthcare services, particularly in the area of inpatient care. As people age, they are more likely to require hospitalization for a range of medical conditions, including chronic diseases and age-related illnesses. In addition, there has been a growing trend towards seeking out high-quality medical care, which has led to an increase in demand for private hospitals and clinics.

Trends in the market: One of the key trends in the Inpatient Care market in Taiwan is the increasing use of technology to improve patient care and outcomes. This includes the use of electronic medical records, telemedicine, and other digital tools to streamline processes and improve the overall quality of care. In addition, there has been a growing trend towards outpatient care, which allows patients to receive treatment in a more convenient and cost-effective manner.

Local special circumstances: Taiwan's healthcare system is highly regulated, with strict standards for quality and safety. This has helped to ensure that patients receive high-quality care, but it has also made it more difficult for new entrants to enter the market. In addition, there is a shortage of healthcare professionals in Taiwan, particularly in rural areas, which has led to a concentration of medical facilities in urban areas.

Underlying macroeconomic factors: Taiwan's strong economy has helped to support the growth of the Inpatient Care market, as consumers have more disposable income to spend on healthcare services. In addition, the government has implemented a number of policies to support the healthcare industry, including tax incentives for medical facilities and subsidies for healthcare providers in rural areas. However, rising healthcare costs and an aging population are also putting pressure on the healthcare system, which may require further policy interventions in the future.

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.