Hospitals

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$1.50tn 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.

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 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.

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.