Outpatient Care - Cyprus

Cyprus

In Cyprus, the Outpatient Care market is expected to see a significant increase in revenue.
It is projected to reach US$182.90m by the year 2024.
Furthermore, the market is anticipated to exhibit a steady annual growth rate of 6.63%, leading to a market volume of US$252.10m by the year 2029.
When comparing global statistics, it is worth noting that United States is expected to generate the highest revenue in the Outpatient Care market.
In 2024, the revenue United States is estimated to be US$744.80bn.
Cyprus has seen a rise in demand for outpatient care services due to an aging population and an increase in chronic diseases.

Key regions: United Kingdom, Japan, China, Brazil, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The Outpatient Care market in Cyprus has been steadily developing in recent years.

Customer preferences: Customers in Cyprus are increasingly looking for more convenient and accessible healthcare options. Outpatient care provides a more flexible and affordable alternative to traditional hospital care, allowing patients to receive medical attention without the need for a hospital stay. This is particularly appealing to patients with chronic conditions who require ongoing treatment.

Trends in the market: One of the key trends in the Outpatient Care market in Cyprus is the increasing use of telemedicine. This allows patients to receive medical consultations and advice remotely, reducing the need for in-person visits. Another trend is the growing popularity of private healthcare providers, who offer a wider range of services and more personalized care than public hospitals.

Local special circumstances: Cyprus has a relatively small population, which means that healthcare providers must be able to offer a high level of service to remain competitive. Additionally, the country has a large number of retirees, who are more likely to require ongoing medical care. This has led to an increase in demand for outpatient care services.

Underlying macroeconomic factors: The development of the Outpatient Care market in Cyprus is being driven by a number of macroeconomic factors. These include the country's growing economy, which has led to an increase in disposable income and a greater willingness to spend on healthcare. Additionally, the government has been investing in healthcare infrastructure and promoting the development of the private healthcare sector. Finally, the aging population in Cyprus is creating a greater demand for healthcare services, particularly those that can be provided on an outpatient basis.

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.