Hospitals

The Hospitals market in Norway is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$19.51bn NOK by 2024.
Furthermore, a steady annual growth rate of 1.97% is anticipated from 2024 to 2029, resulting in a market volume of US$21.52bn NOK by the end of the forecast period.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Hospitals market, reaching a staggering US$1.50tn NOK in 2024.
This highlights the significant dominance of the US in this sector.
In terms of per capita revenue, in Norway is projected to generate US$3.54k NOK per person in 2024.
This figure showcases the average revenue generated by each individual in the country's population.
These numbers reflect the promising growth and potential of the Hospitals market in Norway, making it a lucrative sector to invest in.
Norway's hospitals are embracing digital innovations to enhance patient care and streamline administrative tasks.

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

Norway, a country known for its stunning fjords, is also home to a thriving healthcare industry. The hospitals market in Norway has seen significant growth in recent years, driven by several factors.

Customer preferences: Norwegians have high expectations when it comes to healthcare services, and they are willing to pay for quality care. They prefer hospitals that offer state-of-the-art facilities, advanced medical technologies, and highly skilled healthcare professionals. Patients also value personalized care, with a focus on patient-centered approaches and holistic treatments.

Trends in the market: One of the key trends in the Norwegian hospitals market is the increasing use of digital technologies. Hospitals are adopting electronic health records (EHRs), telemedicine, and other digital tools to improve patient care and streamline operations. Another trend is the growing demand for specialized care, such as cancer treatment, orthopedics, and mental health services. Hospitals are expanding their offerings in these areas to meet the needs of patients.

Local special circumstances: Norway's healthcare system is publicly funded, with the government providing most of the funding for hospitals and other healthcare facilities. Private healthcare providers also operate in the country, but they are subject to strict regulations and oversight. The country's aging population is also a factor driving growth in the hospitals market, as older adults require more healthcare services.

Underlying macroeconomic factors: Norway has a strong economy, with a high standard of living and a well-educated workforce. The country's healthcare system is highly regarded, with a focus on preventive care and health promotion. The government invests heavily in healthcare, which has helped to drive growth in the hospitals market. However, the country's high cost of living and strict regulations can be challenging for private healthcare providers.

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.