Hospitals

In Saudi Arabia, the Hospitals market is anticipated to witness a significant increase in revenue, with projections indicating that it will reach US$20.49bn by 2024.
Furthermore, a steady annual growth rate of 2.59% (CAGR 2024-2029) is expected, resulting in a market volume of US$23.29bn by 2029.
When compared to other countries globally, United States is predicted to generate the highest revenue in the Hospitals market, estimated to reach US$1.50tn in 2024.
In terms of per capita revenue, in Saudi Arabia is projected to generate US$546.90 per person in 2024.
The Saudi Arabian hospitals market is experiencing a surge in demand for advanced medical technologies and specialized healthcare services.

Definition:
Hospitals are licensed facilities that provide a variety of medical and surgical services, some of which are also provided by other facilities. A distinguishing characteristic of hospitals is “inpatient care,” which refers to services where patients are admitted to a hospital to stay overnight for closer monitoring.

This market includes general hospitals, psychiatric hospitals, and specialist hospitals, which provide various services to patients, ranging from diagnostics, medical and surgical treatments, nursing and specialized accommodation to other medical services. Depending on the specific legal regulations, the medical services provided by hospitals can vary greatly from country to country. Long-term care facilities, ambulatory care providers, and medical retailers are excluded from this market.

Structure:
The Hospitals market is divided into three categories: Inpatient Care, Outpatient Care, and Other Hospital Services. Inpatient Care comprises all the medical and surgical services that are provided to patients who are admitted to a hospital for an overnight stay. Outpatient Care covers all medical and surgical services that are provided to patients without having to spend the night in a hospital. Other Hospital Services includes hospital services that are provided outside of a basic hospital setting, e.g., day-care, long-term care, and home-based care.

Additional information:
The shown KPIs include revenues, average revenue per capita, number of hospitals, density of hospitals, average revenue per hospital, number of hospital beds, density of hospital beds, and average revenue per hospital bed. Market values represent revenues paid to hospitals by the respective healthcare payers (including VAT, if applicable). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

General hospitals, including community, county, and regional hospitals
Psychiatric hospitals
Specialist hospitals, such as maternity clinics and aesthetics clinics

Long-term care facilities
Ambulatory care providers, such as specialist practices and dental practices
Providers of ancillary medical services
Medical retailers and other providers of medical supplies

The healthcare industry in Saudi Arabia has witnessed significant growth in recent years, with the hospitals market being a major contributor to this growth.

Customer preferences: Customers in Saudi Arabia prefer to have access to high-quality healthcare services and are willing to pay a premium for it. The demand for specialized medical treatments has increased, leading to the growth of private hospitals in the country. Patients also prefer hospitals that offer state-of-the-art medical equipment and technology.

Trends in the market: The hospitals market in Saudi Arabia has been expanding rapidly, with the number of hospitals increasing significantly over the past few years. The government has been investing heavily in the healthcare sector, which has led to the development of new hospitals and the expansion of existing ones. There has also been a trend towards privatization in the healthcare sector, with more private hospitals being established to meet the growing demand for healthcare services.

Local special circumstances: One of the unique features of the hospitals market in Saudi Arabia is the presence of a large number of expatriates. These expatriates have different healthcare needs and preferences, which has led to the development of hospitals that cater specifically to them. The government has also implemented policies to ensure that expatriates have access to affordable healthcare services.

Underlying macroeconomic factors: The healthcare sector in Saudi Arabia is heavily influenced by government policies and regulations. The government has been investing heavily in the healthcare sector to improve the quality of healthcare services and increase access to healthcare for its citizens. The country's growing population and increasing life expectancy have also contributed to the growth of the hospitals market. Additionally, the high prevalence of chronic diseases such as diabetes and obesity has increased the demand for healthcare services in the country.

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 forecasting 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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The healthcare landscape in the United States is a complicated one. There are federal health insurance plans for low-income individuals namely Medicaid and CHIP (Children’s health insurance program) and Medicare for seniors and the disabled. Aside from these, people must buy private health insurance or be left uninsured because the U.S. is the only high-income country without universal healthcare coverage. Hospitals in the U.S., therefore, receive payment from multiple payers. Most revenue generated by U.S. hospitals comes from private insurance, self, or other payments. The complexity of this multi-payer system is instrumental to the U.S. having the highest administrative health costs per capita among wealthy nations.