Hospitals - India

India

The Hospitals market in India is expected to achieve a remarkable revenue of US$126.80bn in the year 2024.
This projection indicates a promising growth trajectory for the industry.
Furthermore, it is anticipated that the market will exhibit an annual growth rate of 5.02%, calculated from 2024 to 2029.
As a result, the market volume is predicted to reach an impressive figure of US$162.00bn by 2029.
In a global context, it is noteworthy that in the United States is expected to generate the highest revenue, amounting to US$1,501.00bn in the year 2024.
This highlights the dominant position of the United States in the global Hospitals market.
It is also interesting to consider the per person revenues in India.
In 2024, each individual in the country is estimated to generate revenues of US$87.95.
This figure provides insight into the financial impact of the Hospitals market on the population of India.
India's hospitals are increasingly adopting telemedicine technology to reach patients in remote areas and improve access to healthcare.

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

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Analyst Opinion

The Hospitals market in India has been experiencing significant growth in recent years, driven by a variety of factors such as rising incomes, increasing healthcare awareness, and a growing population.

Customer preferences: Indian consumers are becoming increasingly health-conscious, leading to a greater demand for healthcare services. Additionally, there is a growing preference for private healthcare services, which offer higher quality care and better facilities compared to public hospitals. This has led to a surge in demand for private hospitals and clinics in India.

Trends in the market: One of the major trends in the Indian Hospitals market is the rise of medical tourism. India has become a popular destination for medical tourists due to its high-quality healthcare facilities and affordable prices. This has led to an increase in the number of private hospitals and clinics that cater specifically to medical tourists.Another trend in the Indian Hospitals market is the adoption of technology. Many hospitals are investing in advanced medical equipment and digital technologies to improve patient care and efficiency. This includes the use of electronic medical records, telemedicine, and remote monitoring systems.

Local special circumstances: India is a diverse country with a large population, and the healthcare needs of its citizens vary greatly depending on their location and socioeconomic status. As a result, there is a significant difference in the quality of healthcare services available in urban and rural areas. While urban areas have access to modern healthcare facilities, rural areas often lack basic healthcare infrastructure.

Underlying macroeconomic factors: India's healthcare sector is expected to grow significantly in the coming years, driven by rising incomes, an aging population, and increasing healthcare awareness. The government has also taken steps to promote the growth of the healthcare sector, including the introduction of new policies and initiatives aimed at improving healthcare infrastructure and increasing access to healthcare services.In conclusion, the Hospitals market in India is experiencing significant growth due to a variety of factors such as increasing healthcare awareness, rising incomes, and a growing population. The adoption of technology and the rise of medical tourism are also contributing to the growth of the market. However, there are significant disparities in healthcare infrastructure and access to healthcare services between urban and rural areas, which need to be addressed to ensure that all citizens have access to quality healthcare.

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.