Hospitals - Panama

Panama

In Panama, the revenue in the Hospitals market is projected to reach US$2.43bn in 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 5.66%, resulting in a market volume of US$3.20bn by 2029.
Compared to other countries, in the United States is expected to generate the most revenue in the Hospitals market, with US$1,501.00bn in 2024.
In Panama, the per person revenue generated in the Hospitals market is US$536.00 in 2024.
Panama's hospital market is witnessing a surge in medical tourism due to the country's advanced healthcare infrastructure and proximity to North America.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Panama, a country located in Central America, is known for its tropical climate, beautiful beaches, and the Panama Canal. However, the country is also experiencing growth in its Hospitals market.

Customer preferences: Panama has a growing population that is becoming increasingly health-conscious. As a result, there is a growing demand for quality healthcare services. Patients in Panama are looking for hospitals that offer modern facilities, state-of-the-art equipment, and highly trained medical staff. Additionally, patients are looking for affordable healthcare services that are accessible to all.

Trends in the market: The Hospitals market in Panama is experiencing growth due to several factors. Firstly, the government is investing heavily in healthcare infrastructure to meet the growing demand for healthcare services. Secondly, there is an increase in medical tourism in Panama due to its proximity to the United States and the availability of affordable healthcare services. This has led to an increase in the number of private hospitals in the country. Finally, there is an increase in the number of health insurance providers in Panama, which has made healthcare services more accessible to the population.

Local special circumstances: One of the unique factors affecting the Hospitals market in Panama is the country's geography. Panama is a long and narrow country with a population that is concentrated in urban areas. This has led to a concentration of healthcare facilities in urban areas, leaving rural areas with limited access to healthcare services. The government is addressing this issue by investing in healthcare infrastructure in rural areas.

Underlying macroeconomic factors: Panama has a growing economy, which has led to an increase in the country's middle class. This has resulted in an increase in the demand for healthcare services. Additionally, the government's investment in healthcare infrastructure has created job opportunities in the healthcare sector. This has led to an increase in the number of trained medical professionals in the country, which has improved the quality of healthcare services. Finally, Panama's proximity to the United States has made it an attractive destination for medical tourism, which has contributed to the growth of the Hospitals market in the country.In conclusion, the Hospitals market in Panama is growing due to a combination of factors, including the government's investment in healthcare infrastructure, the increase in medical tourism, and the growing demand for healthcare services. The country's unique geography and concentration of population in urban areas have also played a role in shaping the market. As Panama's economy continues to grow and the population becomes increasingly health-conscious, the Hospitals market is expected to continue to grow in the future.

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.