Hospitals

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$1.50tn 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.

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 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.

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.