Outpatient Care - Armenia

Armenia

Armenia's Outpatient Care market is set to witness a significant growth in revenue, with projections indicating that it will reach US$155.40m in 2024.
Based on estimates, this market segment is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 11.14%, ultimately leading to a market volume of US$263.50m by 2029.
When considering global comparisons, it is noteworthy that in the United States is anticipated to generate the highest revenue in the Outpatient Care market, with an estimated value of US$744.80bn in 2024.
Armenia's outpatient care market is witnessing a surge in demand for telemedicine services due to its convenience and accessibility, especially in rural areas.

Key regions: France, Germany, United Kingdom, Canada, United States

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Analyst Opinion

Armenia, a country in the South Caucasus region of Eurasia, has seen a steady growth in its Outpatient Care market in recent years.

Customer preferences: Outpatient care has become increasingly popular in Armenia due to its convenience and cost-effectiveness. Patients prefer outpatient care as it allows them to receive medical attention without being admitted to a hospital, which can be expensive and time-consuming. Additionally, outpatient care provides patients with the flexibility to schedule appointments at their convenience.

Trends in the market: In Armenia, the Outpatient Care market has seen a surge in demand due to the increasing prevalence of chronic diseases. Outpatient care facilities are equipped to handle chronic illnesses, which require frequent medical attention. The market has also seen an increase in the number of private outpatient care facilities, which offer a wider range of services and a higher level of personalized care.

Local special circumstances: Armenia has a predominantly urban population, which has contributed to the growth of the Outpatient Care market in the country. The majority of outpatient care facilities are located in urban areas, providing easy access to medical services for the population. Additionally, the Armenian government has implemented policies to promote the development of the healthcare sector, which has led to an increase in the number of outpatient care facilities.

Underlying macroeconomic factors: Armenia's economy has been growing steadily in recent years, which has led to an increase in disposable income and healthcare spending. The country's healthcare system is undergoing reforms to improve the quality of care and increase access to medical services. These reforms have led to an increase in the number of outpatient care facilities and the availability of medical services in the country.In conclusion, the Outpatient Care market in Armenia has seen a steady growth in recent years due to the convenience and cost-effectiveness of outpatient care, the increasing prevalence of chronic diseases, the development of private outpatient care facilities, the urban population, government policies, and the growing economy.

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 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.