Hospitals

The Hospitals market in Ireland is expected to reach a projected revenue of US$12.65bn in 2024.
It is also anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 2.82%, resulting in a market volume of US$14.53bn by 2029.
When compared globally, United States is projected to generate the highest revenue of US$1.50tn in 2024.
In terms of per capita revenue, in Ireland is estimated to generate US$2.48k per person in 2024.
Ireland's hospitals are undergoing a digital transformation, leveraging advanced technologies to enhance patient care and streamline administrative processes.

Definition:
Hospitals are licensed facilities that provide a variety of medical and surgical services, some of which are also provided by other facilities. A distinguishing characteristic of hospitals is “inpatient care,” which refers to services where patients are admitted to a hospital to stay overnight for closer monitoring.

This market includes general hospitals, psychiatric hospitals, and specialist hospitals, which provide various services to patients, ranging from diagnostics, medical and surgical treatments, nursing and specialized accommodation to other medical services. Depending on the specific legal regulations, the medical services provided by hospitals can vary greatly from country to country. Long-term care facilities, ambulatory care providers, and medical retailers are excluded from this market.

Structure:
The Hospitals market is divided into three categories: Inpatient Care, Outpatient Care, and Other Hospital Services. Inpatient Care comprises all the medical and surgical services that are provided to patients who are admitted to a hospital for an overnight stay. Outpatient Care covers all medical and surgical services that are provided to patients without having to spend the night in a hospital. Other Hospital Services includes hospital services that are provided outside of a basic hospital setting, e.g., day-care, long-term care, and home-based care.

Additional information:
The shown KPIs include revenues, average revenue per capita, number of hospitals, density of hospitals, average revenue per hospital, number of hospital beds, density 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.

General hospitals, including community, county, and regional hospitals
Psychiatric hospitals
Specialist hospitals, such as maternity clinics and aesthetics clinics

Long-term care facilities
Ambulatory care providers, such as specialist practices and dental practices
Providers of ancillary medical services
Medical retailers and other providers of medical supplies

The healthcare industry in Ireland is one of the fastest-growing sectors in the country. With a population of over 4.9 million, the demand for healthcare services is increasing. Hospitals are a critical component of the healthcare system, and their market is expanding.

Customer preferences: Irish patients are becoming more informed about their health, and they are seeking high-quality healthcare services. Patients are looking for hospitals that offer a wide range of medical services, including specialized treatments. They also prefer hospitals that provide personalized care and have a good reputation.

Trends in the market: One of the key trends in the Irish hospital market is the increasing use of technology. Hospitals are adopting new technologies to improve patient care, reduce costs, and increase efficiency. For example, many hospitals are using electronic health records to manage patient data. Telemedicine is also gaining popularity, allowing patients to receive medical consultations remotely. Another trend is the increasing focus on preventive care. Hospitals are investing in wellness programs and health education to help patients maintain good health and prevent illnesses.

Local special circumstances: The Irish healthcare system is a mix of public and private providers. The public healthcare system is funded by the government, while the private sector is funded by private insurance and out-of-pocket payments. The private sector is growing, and more patients are opting for private healthcare services. This trend is driving the growth of private hospitals in the country.

Underlying macroeconomic factors: The Irish economy is growing, and this is having a positive impact on the healthcare sector. With a growing economy, there is more money available for healthcare spending. The government is also investing in the healthcare system, increasing funding for hospitals and other healthcare providers. The aging population is also driving demand for healthcare services, including hospital care. As the population ages, there is a greater need for specialized medical care, which is driving the growth of hospitals that offer these services. In conclusion, the Irish hospital market is expanding, driven by increasing demand for high-quality healthcare services, the adoption of new technologies, and the growing private healthcare sector. The government's investment in the healthcare system and the growing economy are also contributing to the growth of the hospital market.

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 forecasting 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.