Outpatient Care - Baltics

Baltics

The projected revenue in the Outpatient Care market for the Baltics is expected to reach US$0.69bn in 2024.
It is anticipated that there will be an annual growth rate (CAGR 2024-2029) of 8.97%, which will result in a market volume of US$1.06bn by 2029.
Comparatively, in the United States is projected to generate the highest revenue of US$744.80bn in 2024.
In the Baltics, the outpatient care market is experiencing a rise in telemedicine services, providing convenient and accessible healthcare to individuals across the region.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Baltics, a region consisting of Estonia, Latvia, and Lithuania, has seen significant growth in the Outpatient Care market in recent years.

Customer preferences: In line with global trends, Baltics' consumers are increasingly seeking convenience and cost-effective healthcare solutions, leading to a rising demand for outpatient care services. Patients are looking for healthcare providers that offer a wide range of services, flexible hours, and personalized care.

Trends in the market: The Outpatient Care market in Baltics is witnessing a shift towards digitalization, with healthcare providers offering online consultations and telemedicine services. This trend is driven by the increasing use of smartphones and the internet, allowing patients to access healthcare services from the comfort of their homes. Additionally, there is a growing trend towards preventive care, with healthcare providers offering wellness and lifestyle programs to help patients maintain good health.

Local special circumstances: The Baltics region has a well-developed healthcare system, with a high level of healthcare expenditure per capita. However, there is a shortage of healthcare professionals, leading to long waiting times for appointments. This has resulted in an increasing demand for private healthcare services, including outpatient care.

Underlying macroeconomic factors: The Outpatient Care market in Baltics is benefiting from a growing economy, with rising disposable incomes and an expanding middle class. Additionally, the aging population is driving demand for healthcare services, including outpatient care. The Baltics region is also attracting medical tourists, particularly from neighboring countries, due to the high quality of healthcare services and lower costs compared to Western Europe.

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.