Hospitals - Lebanon

Lebanon

The projected revenue in the Hospitals market in Lebanon is expected to reach US$1.94bn in 2024.
It is anticipated to show an annual growth rate (CAGR 2024-2029) of 0.91%, resulting in a market volume of US$2.03bn by 2029.
In global comparison, in the United States is projected to generate the highest revenue of US$1,501.00bn in 2024.
In relation to the total population figures, per person revenues of US$371.30 are generated in Lebanon in 2024.
The hospital market in Lebanon is experiencing a surge in demand for advanced medical technology and specialized services.

Key regions: United States, China, Germany, Japan, Europe

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Analyst Opinion

The healthcare industry in Lebanon has been expanding rapidly in recent years, with the Hospitals market being a significant contributor to this growth.

Customer preferences: Lebanon has a high demand for private healthcare services due to the lack of trust in the public healthcare system. Patients prefer hospitals that offer high-quality medical services and facilities, and are willing to pay a premium for it. In addition, medical tourism has been on the rise in Lebanon, with patients from neighboring countries seeking medical treatment in the country.

Trends in the market: The Hospitals market in Lebanon has been witnessing a trend towards consolidation, with larger hospitals acquiring smaller ones. This trend is driven by the need to achieve economies of scale, reduce costs, and improve the quality of services offered. Another trend in the market is the adoption of technology, with hospitals investing in electronic medical records, telemedicine, and other digital health solutions to improve patient care.

Local special circumstances: Lebanon has a unique geopolitical situation, with a large refugee population and ongoing political instability. This has led to an increase in demand for healthcare services, particularly in areas with high refugee populations. In addition, the COVID-19 pandemic has put a strain on the healthcare system, with hospitals facing shortages of medical supplies and equipment.

Underlying macroeconomic factors: Lebanon has a relatively high GDP per capita compared to other countries in the region, which has contributed to the growth of the Hospitals market. However, the country has been facing a severe economic crisis in recent years, which has led to a depreciation of the currency and inflation. This has made it difficult for hospitals to import medical supplies and equipment, and has led to an increase in healthcare costs for patients.

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 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.