Hospitals

The Hospitals market in Thailand is projected to reach a revenue of US$10.59bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.68%, resulting in a market volume of US$13.96bn by 2029.
In global comparison, United States is projected to generate the most revenue in the Hospitals market, with US$1.50tn in 2024.
In relation to the total population figures, per person revenues of US$147.40 are generated in Thailand in 2024.
The hospital market in Thailand is witnessing a growing demand for specialized medical tourism services.

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

Thailand, known for its beautiful beaches and delicious cuisine, has also been experiencing a steady growth in its Hospitals market.

Customer preferences: Thailand's Hospitals market has been driven by the increasing demand for medical tourism. With its affordable healthcare services, Thailand has become a popular destination for medical tourists from all over the world. Patients seeking elective procedures such as cosmetic surgery, dental care, and fertility treatments have been flocking to Thailand, attracted by the lower costs and high-quality services offered by its hospitals.

Trends in the market: One of the key trends in the Hospitals market in Thailand is the growing focus on technology and innovation. Hospitals are investing in advanced medical equipment and adopting new technologies to enhance their services and provide better patient care. Telemedicine, electronic medical records, and digital diagnostic tools are some of the technologies that are being increasingly used in the Hospitals market in Thailand.Another trend in the market is the rise of wellness tourism. With the increasing awareness of the importance of maintaining good health, more and more people are traveling to Thailand to experience its traditional healing practices such as Thai massage, herbal treatments, and meditation. This has led to the growth of wellness centers and spas in the country, providing a range of services to cater to the needs of health-conscious travelers.

Local special circumstances: One of the factors that has contributed to the growth of the Hospitals market in Thailand is the government's support for the healthcare industry. The government has been investing in the development of healthcare infrastructure and promoting medical tourism through various initiatives. This has created a favorable environment for hospitals to grow and expand their services.Another special circumstance is the availability of highly skilled medical professionals in Thailand. The country has a large pool of well-trained doctors and nurses who are able to provide high-quality medical care to patients. This has helped to build a reputation for Thailand as a destination for medical tourism.

Underlying macroeconomic factors: Thailand's growing middle class and increasing disposable income have also contributed to the growth of the Hospitals market. As people become more affluent, they are willing to spend more on healthcare services and are looking for better quality care. This has created a demand for private hospitals and clinics that offer premium services.In conclusion, the Hospitals market in Thailand has been driven by the increasing demand for medical tourism, the focus on technology and innovation, and the rise of wellness tourism. The government's support for the healthcare industry, the availability of highly skilled medical professionals, and the growing middle class with increasing disposable income have also contributed to the growth of the 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.