Hospitals - South America

South America

In South America, the Hospitals market is expected to see a significant increase in revenue.
By 2024, it is projected to reach a staggering US$153.40bn.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 4.24%.
As a result, the market volume is estimated to reach US$188.80bn by 2029.
When comparing this revenue on a global scale, United States is expected to generate the highest revenue in the Hospitals market.
In 2024, the projected revenue for the United States alone is an impressive US$1,501.00bn.
To put these numbers into perspective, when considering the total population, the per person revenue for South America in 2024 is US$371.40.
This indicates the economic impact of the Hospitals market on each individual in the region.
In South America, the hospital market is experiencing a surge in demand for specialized medical tourism services.

Key regions: United States, China, Germany, Japan, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The healthcare industry in South America has been growing steadily over the past few years, and the hospitals market is no exception.

Customer preferences: Patients in South America are becoming more aware of the importance of quality healthcare services, and are demanding better facilities and treatment options. As a result, hospitals are investing heavily in upgrading their infrastructure and technology to meet these demands.

Trends in the market: One of the major trends in the hospitals market in South America is the rise of medical tourism. Patients from neighboring countries are increasingly traveling to South America for medical treatment, attracted by the lower costs and high-quality facilities. This has led to a boom in the private hospitals sector, which is better equipped to cater to the needs of medical tourists.Another trend is the increasing adoption of telemedicine, which allows doctors to remotely diagnose and treat patients. This technology is particularly useful in remote areas where access to healthcare is limited.

Local special circumstances: The hospitals market in South America is highly fragmented, with a mix of public and private hospitals. Public hospitals are often underfunded and understaffed, leading to long wait times and poor quality of care. Private hospitals, on the other hand, are often prohibitively expensive for the average citizen.

Underlying macroeconomic factors: South America is a region with a rapidly growing population and an expanding middle class. This has led to an increase in demand for healthcare services, including hospitals. However, the region is also characterized by high levels of income inequality, which has resulted in unequal access to healthcare. Governments in the region are therefore under pressure to improve access to quality healthcare services for all citizens.

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 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.