Hospitals - Saudi Arabia

Saudi Arabia

In Saudi Arabia, the Hospitals market is anticipated to witness a significant increase in revenue, with projections indicating that it will reach US$20.49bn by 2024.
Furthermore, a steady annual growth rate of 2.59% (CAGR 2024-2029) is expected, resulting in a market volume of US$23.29bn by 2029.
When compared to other countries globally, in the United States is predicted to generate the highest revenue in the Hospitals market, estimated to reach US$1,501.00bn in 2024.
In terms of per capita revenue, in Saudi Arabia is projected to generate US$546.90 per person in 2024.
The Saudi Arabian hospitals market is experiencing a surge in demand for advanced medical technologies and specialized healthcare services.

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

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Analyst Opinion

The healthcare industry in Saudi Arabia has witnessed significant growth in recent years, with the hospitals market being a major contributor to this growth.

Customer preferences: Customers in Saudi Arabia prefer to have access to high-quality healthcare services and are willing to pay a premium for it. The demand for specialized medical treatments has increased, leading to the growth of private hospitals in the country. Patients also prefer hospitals that offer state-of-the-art medical equipment and technology.

Trends in the market: The hospitals market in Saudi Arabia has been expanding rapidly, with the number of hospitals increasing significantly over the past few years. The government has been investing heavily in the healthcare sector, which has led to the development of new hospitals and the expansion of existing ones. There has also been a trend towards privatization in the healthcare sector, with more private hospitals being established to meet the growing demand for healthcare services.

Local special circumstances: One of the unique features of the hospitals market in Saudi Arabia is the presence of a large number of expatriates. These expatriates have different healthcare needs and preferences, which has led to the development of hospitals that cater specifically to them. The government has also implemented policies to ensure that expatriates have access to affordable healthcare services.

Underlying macroeconomic factors: The healthcare sector in Saudi Arabia is heavily influenced by government policies and regulations. The government has been investing heavily in the healthcare sector to improve the quality of healthcare services and increase access to healthcare for its citizens. The country's growing population and increasing life expectancy have also contributed to the growth of the hospitals market. Additionally, the high prevalence of chronic diseases such as diabetes and obesity has increased the demand for healthcare services in the country.

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.