Inpatient Care - Canada

Canada

The Inpatient Care market in Canada is poised for significant growth, with projected revenue reaching US$36.81bn in 2024.
This sector is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 3.88%, leading to a market volume of US$44.53bn by 2029.
In comparison to other countries, in the United States will dominate the market, generating the highest revenue of US$731.40bn in 2024.
Canada's inpatient care market is experiencing a rise in demand due to an aging population and increasing chronic disease prevalence.

Key regions: India, Canada, Japan, United Kingdom, Germany

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Analyst Opinion

The Inpatient Care market in Canada has been experiencing significant growth in recent years.

Customer preferences: Customers in Canada are increasingly seeking high-quality healthcare services, including inpatient care, which has led to an increase in demand for these services. Additionally, the aging population in Canada has also contributed to the growth of the Inpatient Care market, as older individuals tend to require more frequent and specialized medical attention.

Trends in the market: One trend that has been observed in the Inpatient Care market in Canada is the increasing use of technology to provide more efficient and effective care. This includes the use of electronic medical records, telemedicine, and other digital tools to help healthcare providers better manage patient care. Additionally, there has been a growing trend towards personalized care, with healthcare providers tailoring treatment plans to meet the specific needs of individual patients.

Local special circumstances: One factor that has contributed to the growth of the Inpatient Care market in Canada is the country's publicly-funded healthcare system. While this system does not cover all healthcare services, it does provide coverage for many inpatient care services, which has helped to increase demand for these services. Additionally, Canada's aging population has also played a role in driving growth in the Inpatient Care market, as older individuals tend to require more frequent and specialized medical attention.

Underlying macroeconomic factors: The growth of the Inpatient Care market in Canada is also being driven by underlying macroeconomic factors, such as the country's strong economy and low unemployment rate. These factors have contributed to increased consumer spending on healthcare services, including inpatient care. Additionally, the Canadian government has made significant investments in healthcare infrastructure and research, which has helped to drive growth in the Inpatient Care market.

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 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.