Hospitals

In Malaysia, the Hospitals market is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$8.44bn by 2024.
Furthermore, it is anticipated that the market will demonstrate an annual growth rate of 5.96% between 2024 and 2029, resulting in a market volume of US$11.27bn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Hospitals market, with an estimated value of US$1.50tn by 2024.
This indicates the significant market potential United States.
In terms of per person revenues, in Malaysia is projected to generate approximately US$243.50 in 2024.
This figure reflects the amount of revenue generated per individual in relation to the total population.
These statistics highlight the promising growth opportunities in the Hospitals market in Malaysia and the significant role it plays in the country's economy.
Malaysia's hospitals are increasingly adopting advanced telehealth technologies to improve access to healthcare in rural areas.

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 Malaysia has been growing at a steady pace, with an increasing demand for quality medical services. As a result, the Hospitals market in Malaysia has seen significant development in recent years.

Customer preferences: Malaysian consumers are becoming more aware of the importance of healthcare and are seeking better medical services. This has led to an increase in demand for private hospitals, which offer better quality medical services than public hospitals. Additionally, customers are looking for hospitals that offer a wide range of medical services, including specialized treatments and procedures.

Trends in the market: One of the key trends in the Hospitals market in Malaysia is the increasing demand for medical tourism. Malaysia is becoming a popular destination for medical tourists due to its affordable medical services and highly skilled medical professionals. This trend is expected to continue in the coming years, with more hospitals focusing on medical tourism.Another trend in the market is the increasing adoption of technology in healthcare. Hospitals in Malaysia are investing in advanced medical equipment and technology to provide better medical services to their customers. This includes telemedicine, electronic medical records, and robotic surgery.

Local special circumstances: One of the unique characteristics of the Hospitals market in Malaysia is the presence of both public and private hospitals. Public hospitals are funded by the government and provide medical services at a lower cost to the general population. Private hospitals, on the other hand, offer better quality medical services but at a higher cost. The competition between public and private hospitals has led to an improvement in the quality of medical services offered by both sectors.

Underlying macroeconomic factors: The growth of the Hospitals market in Malaysia can be attributed to several underlying macroeconomic factors. The country has a growing population and an increasing demand for healthcare services. Additionally, the government has been investing heavily in the healthcare sector, which has led to the development of more hospitals and medical facilities.In conclusion, the Hospitals market in Malaysia is developing at a steady pace, driven by an increasing demand for quality medical services. The market is expected to continue growing in the coming years, with more hospitals focusing on medical tourism and adopting advanced medical technology. The presence of both public and private hospitals has led to healthy competition and an improvement in the quality of medical services offered to customers.

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.