Hospitals

In 2024, the projected revenue in the Hospitals market in Serbia is expected to reach US$2.25bn.
This revenue is projected to show an annual growth rate (CAGR 2024-2029) of 4.63%, resulting in a market volume of US$2.82bn by 2029.
In comparison to other countries globally, United States is expected to generate the highest revenue in the Hospitals market, reaching US$1.50tn in 2024.
When considering the population figures, the per person revenue generated in Serbia's Hospitals market is estimated to be US$316.70 in 2024.
Serbia's hospitals are experiencing a surge in demand for specialized medical services, leading to increased investment in cutting-edge technology and infrastructure.

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 Serbia has been rapidly developing in recent years, with the Hospitals market being a major contributor to this growth.

Customer preferences: Serbian citizens have shown an increasing demand for quality healthcare services, which has led to the expansion and modernization of hospitals in the country. Patients are becoming more aware of the importance of healthcare and are willing to pay for better services. Additionally, medical tourism has been on the rise, with many foreigners coming to Serbia for affordable and high-quality medical treatments.

Trends in the market: One of the major trends in the Hospitals market in Serbia is the increasing number of private hospitals. Private hospitals are becoming more popular among patients due to their modern facilities, advanced medical technologies, and personalized care. This trend has also led to increased competition among hospitals, which has resulted in improved quality of services.Another trend in the Hospitals market in Serbia is the increasing focus on preventive healthcare. Hospitals are investing in preventive healthcare programs and services to help patients maintain good health and prevent diseases. This has led to a shift in the healthcare industry from a curative to a preventive approach.

Local special circumstances: Serbia's healthcare system is largely publicly funded, with the government being the largest provider of healthcare services. However, due to the limited resources of the public healthcare system, many patients opt for private healthcare services. The government has recognized the importance of private healthcare and has been working to create a more favorable environment for private hospitals to operate in.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, which has led to an increase in disposable income and a higher demand for healthcare services. Additionally, the country's accession to the European Union has led to increased investment in the healthcare sector, which has further contributed to the growth of the Hospitals market.In conclusion, the Hospitals market in Serbia is experiencing rapid growth due to increasing customer demand for quality healthcare services, the rise of private hospitals, and a focus on preventive healthcare. The government's recognition of the importance of private healthcare and the country's growing economy and investment in the healthcare sector are also contributing factors to this growth.

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.