Hospitals - Montenegro

Montenegro

In Montenegro, the Hospitals market is expected to witness significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$224.00m.
This growth is likely to continue as the market is projected to achieve an annual growth rate of 3.74% from 2024 to 2029.
By the end of 2029, the market volume is expected to reach US$269.10m.
When compared globally, it is noteworthy that United States is the leading revenue generator in the Hospitals market.
In 2024, United States is expected to generate a staggering revenue of US$1,501.00bn.
This showcases the dominant position of the United States in this market.
In terms of per capita revenues, in Montenegro is estimated to generate US$357.70 per person in 2024.
This indicates the economic significance of the Hospitals market in Montenegro and the financial impact it has on the population.
In Montenegro, the hospital market is experiencing a shift towards a more patient-centered approach, with a focus on improving healthcare quality and accessibility.

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

Market

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Region comparison

Currency

Analyst Opinion

The healthcare industry is a vital sector in Montenegro, with the Hospitals market playing a significant role in the delivery of healthcare services to the population.

Customer preferences: Montenegro's Hospitals market has been experiencing a shift towards more patient-centric care. Patients are increasingly seeking healthcare providers that offer high-quality care, personalized attention, and a comfortable environment. The demand for private healthcare services is also growing as patients seek to avoid long waiting times and overcrowded public hospitals.

Trends in the market: One of the notable trends in Montenegro's Hospitals market is the adoption of digital technologies. Hospitals are increasingly investing in electronic health records, telemedicine, and other digital tools to improve patient care and outcomes. Another trend is the growing popularity of medical tourism, with patients from neighboring countries seeking affordable healthcare services in Montenegro.

Local special circumstances: Montenegro's healthcare system is undergoing significant reforms aimed at improving the quality and accessibility of healthcare services. The government has been investing in infrastructure, equipment, and human resources to improve the capacity and efficiency of the healthcare system. However, the country still faces challenges such as a shortage of healthcare professionals, inadequate funding, and an aging population.

Underlying macroeconomic factors: Montenegro's Hospitals market is influenced by various macroeconomic factors such as economic growth, government policies, and demographic changes. The country's economy has been growing steadily in recent years, creating opportunities for the healthcare sector. The government has also been implementing policies aimed at improving the healthcare system, such as the introduction of a mandatory health insurance scheme. However, the country's aging population presents challenges for the healthcare system, as the demand for healthcare services is expected to increase in the coming years.

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.