Hospitals

The Hospitals market in Lithuania is projected to reach a revenue of US$1.77bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 4.77%, resulting in a market volume of US$2.23bn by 2029.
In global comparison, United States is expected to generate the highest revenue in the Hospitals market, reaching US$1.50tn in 2024.
In terms of per person revenues, in Lithuania is projected to generate US$656.80 in 2024.
Lithuania is witnessing a surge in the adoption of telemedicine services by hospitals, enhancing accessibility and improving healthcare outcomes for patients.

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 Hospitals market in Lithuania has been experiencing certain trends and developments in recent years.

Customer preferences: Customers in Lithuania prefer hospitals that offer high-quality medical services at affordable prices. They also tend to choose hospitals that have modern medical equipment and technology. Patients in Lithuania value good communication with medical staff and prefer hospitals that offer a comfortable and welcoming environment.

Trends in the market: One of the main trends in the Hospitals market in Lithuania is the increasing demand for private healthcare services. This trend is driven by the growing middle class and the desire for better quality medical care. Another trend is the increasing use of digital technologies and telemedicine, which allows for remote consultations and medical diagnosis.

Local special circumstances: The Lithuanian healthcare system is publicly funded, but there is a growing demand for private healthcare services due to long waiting times and limited access to certain medical procedures. The government is taking steps to improve the healthcare system, but there is still a need for private investment in the sector.

Underlying macroeconomic factors: The Lithuanian economy has been growing steadily in recent years, which has led to an increase in disposable income and a growing middle class. This has contributed to the demand for better quality healthcare services. Additionally, Lithuania has a well-educated workforce and a strong technology sector, which has allowed for the development of digital healthcare solutions. However, the country is facing an aging population and a shortage of medical professionals, which could impact the future growth of the Hospitals 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.