Outpatient Care - Iceland

Iceland

In Iceland, the Outpatient Care market is expected to witness a significant growth in revenue.
By 2024, the projected revenue is estimated to reach US$202.60m.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 11.46%.
As a result, the market volume is projected to reach US$348.50m by 2029.
In comparison to other countries worldwide, in the United States is expected to generate the highest revenue in the Outpatient Care market.
In 2024, the revenue in the United States is projected to reach an impressive US$744.80bn.
In Iceland, the trend in outpatient care is a strong emphasis on preventive measures and holistic approaches to healthcare.

Key regions: France, Germany, United Kingdom, Canada, United States

Market

Region

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Currency

Analyst Opinion

Iceland, with a population of around 364,000, has a unique healthcare system. The country provides universal healthcare, which is publicly funded through taxes. The Outpatient Care market in Iceland is an essential component of the country's healthcare system, providing primary care services to its citizens.

Customer preferences: Icelanders have a strong preference for outpatient care services due to the convenience and accessibility they offer. Patients can receive treatment without being admitted to a hospital, which is preferred by many. Additionally, the country's aging population has increased the demand for outpatient care services, as older adults require more frequent medical attention.

Trends in the market: The Outpatient Care market in Iceland has experienced significant growth in recent years, primarily due to the increasing demand for primary care services. The market has also seen a rise in private outpatient clinics, which offer specialized services such as physiotherapy, dental care, and mental health services. These private clinics cater to patients who are willing to pay for faster and more personalized care.

Local special circumstances: Iceland's unique healthcare system, which provides universal healthcare, has contributed to the growth of the Outpatient Care market. The government has implemented policies to increase the availability of primary care services, such as expanding the number of healthcare professionals and increasing the number of outpatient clinics. Additionally, the country's small population and geographic isolation have made it challenging to provide healthcare services in rural areas, leading to the establishment of mobile healthcare units.

Underlying macroeconomic factors: Iceland's economy has been growing steadily, with a focus on industries such as tourism, fishing, and renewable energy. This growth has led to an increase in disposable income, which has contributed to the growth of the private outpatient care market. Additionally, Iceland's aging population has put pressure on the healthcare system to provide more primary care services, leading to the expansion of the Outpatient Care market. The government's commitment to providing universal healthcare has also played a significant role in the market's growth.

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.