Hospitals

The Hospitals market in Tanzania is expected to witness a significant growth in revenue, with projections indicating a figure of US$957.40m by the year 2024.
Furthermore, it is anticipated that the market will continue to expand at a steady pace, with an annual growth rate of 7.66% (CAGR 2024-2029).
This growth trajectory is expected to result in a market volume of approximately US$1.38bn by 2029.
When compared to the global market, it is important to note that United States is projected to generate the highest revenue, reaching a staggering US$1.50tn in 2024.
However, in terms of per capita revenue, in Tanzania is expected to generate approximately US$13.79 per person in 2024.
This signifies the economic impact and significance of the Hospitals market within the country.
The hospital market in Tanzania is experiencing a surge in demand for specialized medical services due to the country's growing population and increasing focus on healthcare.

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 Tanzania is experiencing a significant shift, and the Hospitals market is no exception.

Customer preferences: The Tanzanian population is becoming more health-conscious, and there is a growing demand for quality healthcare services. Customers are now looking for hospitals that offer specialized services and have modern facilities. Patients prefer hospitals that have well-equipped emergency rooms, intensive care units, and diagnostic centers. Additionally, there is an increasing demand for private hospitals, as patients seek a more personalized and comfortable experience.

Trends in the market: One of the significant trends in the Hospitals market in Tanzania is the rise of medical tourism. The country is becoming a popular destination for medical tourists due to its affordable healthcare services. Hospitals are now investing in modern facilities and specialized services to cater to the needs of medical tourists. Another trend is the adoption of technology in healthcare. Hospitals are now using electronic health records, telemedicine, and other digital tools to improve patient care and enhance efficiency.

Local special circumstances: The Tanzanian government is investing heavily in the healthcare sector, which is driving the growth of the Hospitals market. The government has allocated a significant portion of the budget towards healthcare, and this has led to the construction of new hospitals and the upgrading of existing ones. Additionally, the government has implemented policies that promote public-private partnerships, which has encouraged private investment in the healthcare sector.

Underlying macroeconomic factors: Tanzania's economy is growing, and this has led to an increase in disposable income. As a result, more people can afford to pay for quality healthcare services, which is driving the growth of the Hospitals market. Additionally, the country's population is growing, and this has led to an increase in demand for healthcare services. The government's efforts to improve healthcare infrastructure and services have also contributed to the growth of the Hospitals market.

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.