Hospitals - Southeast Asia

Southeast Asia

In Southeast Asia, the revenue in the Hospitals market is projected to reach US$66.98bn in 2024.
This represents an annual growth rate (CAGR 2024-2029) of 6.76%, resulting in a market volume of US$92.89bn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Hospitals market, reaching US$1,501.00bn in 2024.
Taking into account the total population figures, in Southeast Asia, per person revenues of US$96.70 are generated in 2024.
In Singapore, private hospitals are gaining popularity due to their state-of-the-art facilities and shorter waiting times.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The healthcare industry in Southeast Asia has been growing rapidly in recent years, with hospitals being a significant contributor to this growth.

Customer preferences: Customers in Southeast Asia are increasingly demanding high-quality healthcare services, which has led to a rise in private hospitals. Patients are willing to pay a premium for better medical facilities and services, which has encouraged the growth of private hospitals in the region.

Trends in the market: Indonesia is the largest healthcare market in Southeast Asia, with a growing middle class and a large population. The country has seen a rise in the number of private hospitals in recent years, which has contributed to the growth of the hospital market. In Malaysia, the government has been investing heavily in healthcare infrastructure, which has led to an increase in the number of hospitals in the country. In the Philippines, there has been a trend towards medical tourism, with an increasing number of patients travelling to the country for affordable medical treatment.

Local special circumstances: In Singapore, the demand for private healthcare services has led to the growth of private hospitals. The country has a high standard of living and a large expatriate population, which has contributed to the growth of the private healthcare sector. In Thailand, the government has been promoting medical tourism, which has led to the growth of private hospitals in the country. The country has a well-established healthcare industry and is known for its affordable medical treatments.

Underlying macroeconomic factors: The growth of the hospital market in Southeast Asia can be attributed to a number of macroeconomic factors. The region has a large and growing population, which has led to an increase in demand for healthcare services. The rise of the middle class in the region has also contributed to the growth of the hospital market, as more people are able to afford private healthcare services. Additionally, governments in the region have been investing heavily in healthcare infrastructure, which has led to an increase in the number of hospitals in the region.

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.