Hospitals - Kenya

Kenya

The Hospitals market in Kenya is expected to reach a projected revenue of KES US$1,850.00m in 2024.
Looking ahead, the market is anticipated to demonstrate an annual growth rate of 3.95% (CAGR 2024-2029), resulting in a market volume of KES US$2,245.00m by 2029.
When compared globally, in the United States is expected to generate the highest revenue, amounting to US$1,501.00bn in 2024.
In terms of per person revenues, in Kenya is projected to generate KES US$32.92 in 2024.
The hospital market in Kenya is experiencing a surge in private investments, leading to the establishment of modern, well-equipped facilities.

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

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Analyst Opinion

The healthcare industry in Kenya is rapidly growing, and the hospitals market is a significant contributor to this growth. With a population of over 50 million, Kenya has a high demand for quality healthcare services, leading to an increase in the number of hospitals and healthcare facilities in the country.

Customer preferences: Kenyan patients are becoming more aware of their healthcare needs and are seeking better quality healthcare services. They are increasingly looking for hospitals that offer modern facilities, state-of-the-art equipment, and highly trained medical staff. Patients are also looking for hospitals that offer specialized services such as cancer treatment, cardiology, and neurology.

Trends in the market: One of the major trends in the Kenyan hospitals market is the increasing focus on technology. Hospitals are investing in modern medical equipment and technology to improve patient care and outcomes. Another trend is the growing popularity of medical tourism, with patients from neighboring countries such as Tanzania, Uganda, and South Sudan seeking medical treatment in Kenya.

Local special circumstances: One of the unique features of the Kenyan hospitals market is the high prevalence of communicable diseases such as HIV/AIDS, malaria, and tuberculosis. This has led to the establishment of specialized hospitals and clinics that focus on the treatment and management of these diseases. Additionally, Kenya has a large population of low-income earners who cannot afford private healthcare services. Public hospitals, which offer subsidized healthcare services, are therefore in high demand.

Underlying macroeconomic factors: The Kenyan economy has been growing steadily over the past few years, with a GDP growth rate of 5.4% in 2019. This has led to an increase in the number of people who can afford quality healthcare services. Additionally, the government has been investing heavily in the healthcare sector, with a focus on improving infrastructure and increasing access to healthcare services. These factors have contributed to the growth of the hospitals market in Kenya.

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.