Outpatient Care - Panama

Panama

The Outpatient Care market in Panama is expected to achieve a revenue of US$0.49bn by the year 2024.
It is projected to display a compound annual growth rate (CAGR 2024-2029) of 9.46%, leading to a market volume of US$0.77bn by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue, amounting to US$744.80bn in 2024.
Panama's outpatient care market is witnessing a surge in telemedicine services, allowing patients to access healthcare remotely.

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

Market

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Analyst Opinion

The Outpatient Care market in Panama has been experiencing significant growth in recent years.

Customer preferences: Panamanians are increasingly seeking out outpatient care options due to a growing awareness of the importance of preventive healthcare. Additionally, the convenience and flexibility of outpatient care, which allows patients to receive treatment without being admitted to a hospital, is becoming more appealing to consumers.

Trends in the market: One trend in the Outpatient Care market in Panama is the rise of specialized clinics that focus on specific medical fields, such as dermatology or ophthalmology. These clinics offer a more targeted approach to healthcare and are often more cost-effective than traditional hospitals. Another trend is the adoption of telemedicine, which allows patients to consult with healthcare providers remotely, reducing the need for in-person visits.

Local special circumstances: Panama's aging population has contributed to the growth of the Outpatient Care market as older adults require more frequent medical attention. Additionally, the country's tourism industry has led to an increase in medical tourism, with visitors seeking out outpatient care options during their stay.

Underlying macroeconomic factors: Panama's strong economic growth has led to an increase in disposable income and a growing middle class, which has contributed to the growth of the Outpatient Care market. Additionally, the government has implemented policies to promote healthcare access and affordability, further driving demand for outpatient care services.

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.