Inpatient Care - Western Africa

Western Africa

The Inpatient Care market in Western Africa is expected to witness substantial growth in the coming years.
According to projections, the revenue in this market is anticipated to reach US$5.24bn by 2024.
Furthermore, it is predicted that the market will experience a steady annual growth rate of 9.85% from 2024 to 2029.
This growth trajectory will result in a market volume of US$8.38bn by 2029.
When compared globally, it is evident that in the United States will generate the highest revenue in the Inpatient Care market.
In 2024, in the United States is expected to account for a staggering US$731.40bn in revenue.
In Western Africa, there is a growing trend towards increasing access to and improving the quality of inpatient care services.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for inpatient care services in Western Africa has been on the rise in recent years.

Customer preferences: One of the main reasons for this trend is the increasing population in the region, which has led to a higher demand for healthcare services. Additionally, there is a growing awareness among consumers about the importance of seeking medical attention when needed, which has also contributed to the increase in demand for inpatient care services.

Trends in the market: In Nigeria, the largest economy in the region, there has been a significant increase in the number of private hospitals offering inpatient care services. This can be attributed to the growing middle class, who are willing to pay for high-quality healthcare services. In Ghana, there has been a trend towards the establishment of specialized hospitals, such as cancer treatment centers and orthopedic hospitals, which cater to specific medical needs.

Local special circumstances: The healthcare sector in Western Africa faces several challenges, including a shortage of healthcare professionals, inadequate infrastructure, and limited access to medical supplies and equipment. However, governments in the region have been taking steps to address these challenges, such as investing in healthcare infrastructure and increasing funding for healthcare education.

Underlying macroeconomic factors: The economic growth in Western Africa has been a driving force behind the increasing demand for inpatient care services. As more people move into the middle class, they are able to afford better healthcare services. Additionally, the region has seen an increase in foreign investment, which has led to the establishment of more private hospitals and clinics. However, the COVID-19 pandemic has had a significant impact on the healthcare sector in the region, leading to a decline in demand for inpatient care services in the short term.

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.