Hospitals - Australia & Oceania

Australia & Oceania

In 2024, the Hospitals market in Australia & Oceania is projected to reach a revenue of US$72.19bn.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.71%, resulting in a market volume of US$90.86bn by 2029.
When compared globally, in the United States is anticipated to generate the highest revenue of US$1,501.00bn in 2024.
In terms of per capita figures, the revenue generated per person in Australia & Oceania is estimated to be US$1.66k in 2024.
The Hospitals market is poised for significant growth in the region, reflecting the increasing importance of healthcare services.
In Australia & Oceania, hospitals are increasingly adopting telemedicine solutions to improve access to healthcare services in remote and rural areas.

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

Market

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Currency

Analyst Opinion

The Hospitals market in Australia & Oceania is a rapidly growing industry that is characterized by a number of trends and developments.

Customer preferences: Customers in the region are increasingly demanding high-quality healthcare services that are both affordable and accessible. This has led to the emergence of a number of private hospitals that offer specialized services such as cosmetic surgery, fertility treatments, and mental health care. In addition, customers are also seeking out hospitals that offer the latest medical technologies and equipment.

Trends in the market: One of the major trends in the Hospitals market in Australia & Oceania is the increasing use of telemedicine. This technology allows patients to receive medical care remotely, which is particularly useful for those living in remote areas. Another trend is the growing popularity of medical tourism, with patients from other countries traveling to the region for medical treatment.

Local special circumstances: The region's unique geography and demographics have also contributed to the growth of the Hospitals market. Australia, for example, has a large aging population that requires more medical care, while Oceania has a number of small island nations that lack the infrastructure to support large hospitals. As a result, there is a growing trend towards the development of smaller, specialized hospitals that can cater to the needs of these populations.

Underlying macroeconomic factors: Finally, the growth of the Hospitals market in Australia & Oceania is also being driven by a number of underlying macroeconomic factors. These include rising incomes, improved healthcare infrastructure, and increased government spending on healthcare. In addition, the region's growing population and increasing life expectancy are also contributing to the demand for healthcare 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.