Hospitals

The Hospitals market in Namibia is expected to experience a significant increase in revenue, reaching a projected value of N US$461.20m by 2024.
This growth is anticipated to continue at an annual growth rate of 3.04%, resulting in a market volume of N US$535.70m by 2029.
When compared to other countries globally, United States is projected to generate the highest revenue in the Hospitals market, with an estimated value of US$1.50tn in 2024.
In terms of per capita revenue, the Hospitals market in Namibia is expected to generate N US$174.30 per person in 2024.
Namibia's hospital market is experiencing a growing demand for specialized healthcare services due to the country's rising elderly population.

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

Namibia, a country in southern Africa, has been experiencing growth in its healthcare industry in recent years. This growth has been particularly notable in the Hospitals market, which has seen significant development.

Customer preferences: Namibian customers have shown a growing preference for private hospitals over public ones, due to the perception of better quality care and facilities. This has led to an increase in the number of private hospitals in the country, as well as the expansion of existing facilities. Additionally, there has been a trend towards medical tourism, with Namibia attracting patients from neighboring countries for specialized treatments.

Trends in the market: One of the major trends in the Hospitals market in Namibia is the increasing focus on specialized treatments and procedures. Private hospitals in particular have been expanding their offerings in areas such as cardiology, oncology, and orthopedics, to cater to the growing demand for these services. Another trend is the adoption of technology in healthcare, with hospitals investing in electronic medical records systems and telemedicine to improve patient care and efficiency.

Local special circumstances: Namibia has a relatively small population compared to other African countries, which has led to a concentration of healthcare facilities in urban areas. However, there is still a significant need for healthcare services in rural areas, which has led to the development of mobile clinics and outreach programs to reach underserved populations. Additionally, Namibia has a high prevalence of HIV/AIDS, which has led to a focus on specialized treatment and care for those affected by the disease.

Underlying macroeconomic factors: Namibia has a stable political environment and a growing economy, which has contributed to the growth of the healthcare industry. Additionally, the government has made efforts to improve healthcare access and quality, including investing in infrastructure and training healthcare professionals. However, there are still challenges in the sector, including a shortage of healthcare workers and limited funding for healthcare services.

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.