Hospitals - Taiwan

Taiwan

In Taiwan, the Hospitals market is expected to achieve a revenue of US$18.68bn in 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of 3.61%, leading to a market volume of US$22.30bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$1,501.00bn in 2024.
In terms of per person revenues, US$779.80 are estimated to be generated in Taiwan in 2024.
Taiwan's hospitals are embracing cutting-edge technology and innovative healthcare solutions to provide high-quality medical care to its citizens.

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

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Currency

Analyst Opinion

The healthcare industry in Taiwan has been growing steadily in recent years, with the Hospitals market being a key player in the sector.

Customer preferences: Taiwanese customers have a strong preference for high-quality healthcare services, which has led to an increase in demand for hospitals that offer advanced medical technologies and facilities. Patients in Taiwan are also becoming more health-conscious and are seeking out preventative healthcare services, such as health screenings and vaccinations.

Trends in the market: One major trend in the Hospitals market in Taiwan is the increasing focus on digitalization and telemedicine. Hospitals are investing in technologies that allow for remote consultations and virtual appointments, which has become especially important during the COVID-19 pandemic. Another trend is the rise of medical tourism in Taiwan, with hospitals offering specialized treatments and procedures to international patients.

Local special circumstances: Taiwan has a unique healthcare system, with a mixture of public and private hospitals. The government has been investing heavily in healthcare infrastructure and technology, which has led to the growth of the private Hospitals market. However, the government also regulates the prices of medical services, which can impact the profitability of private hospitals.

Underlying macroeconomic factors: Taiwan has a rapidly aging population, which has led to an increase in demand for healthcare services. The government has also implemented policies to encourage the development of the healthcare industry, such as tax incentives for hospitals that invest in research and development. Additionally, Taiwan has a strong pharmaceutical industry, which has led to the growth of the Hospitals market as hospitals partner with pharmaceutical companies to offer specialized treatments and services.

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.