Hospitals - NAFTA

NAFTA

In 2024, the projected revenue in the Hospitals market is estimated to reach a staggering US$1,615.00bn in NAFTA countries.
This represents a substantial growth in revenue, with an expected annual growth rate (CAGR 2024-2029) of 3.48%.
By 2029, the market volume is expected to reach an impressive US$1,916.00bn.
When comparing the revenue on a global scale, it is noteworthy that United States is projected to generate the highest revenue in the Hospitals market in 2024, amounting to US$1,501.00bn.
This highlights the dominance of the United States in this market within the NAFTA region.
To put the revenue figures into perspective, it is interesting to consider the per person revenues in 2024.
On average, each person in the NAFTA countries is expected to generate revenues of US$3.16k.
This indicates the significant financial impact of the Hospitals market on the population.
In the NAFTA region, the hospitals market is experiencing a growing demand for telemedicine services due to the vast geographical expanse of Canada and Mexico.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The healthcare industry in North America is one of the largest in the world, with the United States being the largest contributor to the sector. The Hospitals market in NAFTA has been experiencing significant growth in recent years, driven by several factors.

Customer preferences: Patients in the NAFTA region are becoming more aware of their healthcare needs and are seeking better quality care. They are also more willing to pay for advanced medical treatments and procedures. Patients are demanding more personalized healthcare services, which has led to an increase in demand for specialized hospitals.

Trends in the market: The Hospitals market in the United States is the largest in the NAFTA region, accounting for the majority of the market share. The market is driven by factors such as an aging population, increasing chronic diseases, and advancements in medical technology. Hospitals in the United States are also investing heavily in technology to improve patient outcomes and reduce costs.Mexico's Hospitals market is also growing, driven by an increase in government spending on healthcare and rising demand for private healthcare services. The market is characterized by a large number of small hospitals, with a few large hospitals dominating the market.Canada's Hospitals market is relatively stable, with a focus on providing universal healthcare services to all citizens. The market is characterized by a large number of public hospitals, with private hospitals playing a smaller role.

Local special circumstances: The healthcare industry in the NAFTA region is highly regulated, with each country having its own set of regulations and standards. The United States has a complex healthcare system, with a mix of private and public healthcare providers. Mexico has a two-tier healthcare system, with public healthcare services being provided by the government and private healthcare services being provided by private companies. Canada has a publicly funded healthcare system, with the government providing healthcare services to all citizens.

Underlying macroeconomic factors: The Hospitals market in NAFTA is influenced by several macroeconomic factors such as GDP growth, population demographics, and government healthcare spending. The United States has the highest healthcare spending per capita in the world, driven by a large population and a high GDP. Mexico's healthcare spending is increasing, driven by rising demand for healthcare services and a growing population. Canada's healthcare spending is relatively stable, with the government providing universal healthcare services to all citizens.In conclusion, the Hospitals market in NAFTA is growing, driven by several factors such as an aging population, increasing chronic diseases, and advancements in medical technology. Each country in the region has its own unique healthcare system and regulations, which influence the market. The market is also influenced by macroeconomic factors such as GDP growth, population demographics, and government healthcare spending.

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.