Hospitals - Nordics

Nordics

In 2024, the projected revenue in the Hospitals market in the Nordics is estimated to reach US$79.02bn.
This represents a substantial growth potential for the market segment.
Furthermore, it is expected that the revenue will continue to grow at an annual rate of 3.47% from 2024 to 2029.
This growth rate is calculated using the compound annual growth rate (CAGR) methodology.
Based on this growth trajectory, it is forecasted that the market volume will reach US$93.71bn by 2029.
This indicates a positive outlook for the Hospitals market in the Nordics, as it demonstrates consistent growth over the projected period.
When compared globally, it is noteworthy that in the United States is expected to generate the highest revenue in the Hospitals market.
In 2024 alone, the projected revenue for the United States is a staggering US$1,501.00bn.
This highlights the dominance of the United States in terms of market size and revenue generation.
In terms of per-person revenues, in 2024, each individual in the Nordics is expected to generate an average of US$2.82k.
This figure gives insight into the revenue generated in relation to the total population figures.
It indicates the potential profitability of the Hospitals market in the Nordics, as it demonstrates a substantial revenue per person.
In the Nordics, hospitals are increasingly adopting digital health solutions to enhance patient care and improve efficiency.

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

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Analyst Opinion

The healthcare industry in the Nordics is rapidly evolving, and the hospitals market is no exception.

Customer preferences: Customers in the Nordics are increasingly seeking high-quality healthcare services that are easily accessible and affordable. Patients are also becoming more proactive in managing their health, leading to a rise in demand for preventive and personalized healthcare services. Additionally, there is a growing preference for digital healthcare solutions, such as telemedicine and remote patient monitoring, which allow patients to receive care from the comfort of their homes.

Trends in the market: One of the major trends in the hospitals market in the Nordics is the increasing focus on patient-centric care. Hospitals are investing in technology and infrastructure to improve the patient experience and provide more personalized care. For example, some hospitals are implementing electronic health records (EHRs) and patient portals to give patients access to their medical records and facilitate communication with healthcare providers.Another trend in the market is the growing importance of sustainability. Hospitals in the Nordics are taking steps to reduce their environmental impact by implementing energy-efficient technologies, reducing waste, and sourcing sustainable materials. This trend is driven by both regulatory requirements and increasing public awareness of environmental issues.

Local special circumstances: Each Nordic country has its own unique healthcare system and market dynamics. For example, in Sweden, the healthcare system is largely publicly funded, while in Denmark, there is a mix of public and private healthcare providers. Additionally, there are differences in healthcare infrastructure and workforce availability across the region.

Underlying macroeconomic factors: The hospitals market in the Nordics is influenced by a range of macroeconomic factors, including government policies, demographic changes, and technological advancements. For example, aging populations in the region are driving demand for healthcare services, while advances in medical technology are increasing the availability of innovative treatments and procedures. Additionally, government policies aimed at improving healthcare access and quality are shaping the market landscape.

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.