Hospitals - Central & Western Europe

Central & Western Europe

In Central & Western Europe, the Hospitals market is anticipated to witness a significant surge in revenue, projected to reach a staggering US$615.90bn by the year 2024.
This growth is expected to continue steadily with an annual growth rate (CAGR 2024-2029) of 3.96%, resulting in a market volume of US$747.90bn by 2029.
In comparison to other countries globally, in the United States is projected to generate the highest revenue in the Hospitals market, amounting to US$1,501.00bn in 2024.
To put this into perspective, in 2024, the revenue generated per person in Central & Western Europe is estimated to be US$1.84k.
This figure reflects the economic contribution of the Hospitals market in relation to the total population of the region.
In Germany, hospitals are increasingly focusing on digitalization and telemedicine to improve patient care and increase efficiency.

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

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Analyst Opinion

The healthcare industry is a crucial sector that plays an important role in the economic development of Central & Western Europe. Hospitals are an essential part of the healthcare system, providing medical services to patients in need.

Customer preferences: Customers in Central & Western Europe are increasingly demanding high-quality healthcare services that are easily accessible and affordable. Patients are also becoming more informed and involved in their healthcare decisions. As a result, hospitals are investing in advanced medical technologies and facilities to meet the expectations of their patients.

Trends in the market: The Hospitals market in Central & Western Europe is experiencing a shift towards outpatient care. This trend is driven by the increasing demand for non-invasive medical procedures and the rising cost of inpatient care. Hospitals are investing in outpatient facilities to provide patients with more convenient and cost-effective healthcare options. Another trend in the market is the increasing focus on digitalization. Hospitals are adopting digital technologies such as electronic health records, telemedicine, and mobile health apps to improve patient care and streamline operations. This trend is driven by the need to improve efficiency, reduce costs, and enhance the patient experience.

Local special circumstances: Each country in Central & Western Europe has its own unique healthcare system and regulations that affect the Hospitals market. For example, in Germany, hospitals are reimbursed based on the number of patients they treat, which incentivizes hospitals to increase patient volume. In France, hospitals are reimbursed based on the services they provide, which incentivizes hospitals to provide high-quality care. These differences in reimbursement systems can affect the way hospitals operate and invest in their facilities.

Underlying macroeconomic factors: The Hospitals market in Central & Western Europe is influenced by several macroeconomic factors such as population growth, aging demographics, and government healthcare policies. The aging population is driving demand for healthcare services, particularly in areas such as chronic disease management and long-term care. Government healthcare policies also play a significant role in the Hospitals market, as they determine funding levels and reimbursement rates for hospitals. Economic factors such as GDP growth and unemployment rates can also affect the demand for healthcare services and the ability of patients to pay for them. In conclusion, the Hospitals market in Central & Western Europe is experiencing a shift towards outpatient care and digitalization, driven by changing customer preferences and the need for cost-effective healthcare solutions. Each country in the region has its own unique healthcare system and regulations that affect the way hospitals operate. The market is also influenced by macroeconomic factors such as population growth, aging demographics, and government healthcare policies.

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.