Key regions: United Kingdom, Japan, China, Brazil, Canada
Belize, a small country located in Central America, is experiencing a growing demand for outpatient care services.
Customer preferences: Belizeans have shown a preference for outpatient care due to its convenience, affordability, and accessibility. Patients prefer to receive medical care without having to stay overnight at a hospital. Outpatient care also allows patients to receive treatment for minor illnesses or injuries without having to make an appointment in advance.
Trends in the market: The outpatient care market in Belize is experiencing a steady growth due to an increase in the aging population, the prevalence of chronic diseases, and the rise of medical tourism. The aging population requires more medical attention, and outpatient care provides a more cost-effective option than hospitalization. Chronic diseases such as diabetes and hypertension are also on the rise, and patients require regular check-ups and treatments. Medical tourism is also contributing to the growth of the outpatient care market, as patients from neighboring countries seek medical treatment in Belize due to its lower costs and high-quality healthcare services.
Local special circumstances: Belize has a unique healthcare system, where both public and private healthcare providers coexist. The public healthcare system is funded by the government and provides free or low-cost medical services to Belizeans. However, the public healthcare system is often overwhelmed, and patients may have to wait for extended periods to receive medical attention. The private healthcare system provides faster and more personalized medical care, but it comes at a higher cost. Moreover, the lack of specialized medical equipment and trained professionals in the country has led to a reliance on medical tourism.
Underlying macroeconomic factors: Belize's economy heavily relies on tourism, agriculture, and oil production. The COVID-19 pandemic has severely impacted the tourism industry, leading to a decline in the country's GDP. However, the healthcare sector has remained resilient during the pandemic, with an increasing demand for outpatient care services. The government has also invested in the healthcare sector by building new hospitals and clinics and training more medical professionals. The country's healthcare sector is expected to continue growing, driven by an increase in medical tourism and the government's efforts to improve 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 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.
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