Hospitals - Southern Asia

Southern Asia

The Hospitals market in Southern Asia is expected to witness a significant growth in revenue, projected to reach US$139.60bn in 2024.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 5.13%, resulting in a market volume of US$179.30bn by 2029.
In comparison to other countries worldwide, in the United States is projected to generate the highest revenue in the Hospitals market, amounting to US$1,501.00bn in 2024.
When considering the population size, the per person revenue generated in 2024 is estimated to be US$72.89.
This indicates the economic significance of the Hospitals market and its impact on the overall economy.
In Southern Asia, hospitals in India are increasingly adopting telemedicine technologies to provide healthcare services to patients in remote areas.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The healthcare industry is a growing sector worldwide, and Southern Asia is no exception. Hospitals in Southern Asia are experiencing a steady increase in demand due to several factors, including population growth, rising incomes, and increasing healthcare awareness.

Customer preferences: Customers in Southern Asia are looking for quality healthcare services that are affordable and accessible. They prefer hospitals that offer a wide range of medical services, including specialized treatments and surgeries. Patients also look for hospitals that have state-of-the-art equipment and facilities, as well as experienced and qualified medical professionals.

Trends in the market: One of the major trends in the hospitals market in Southern Asia is the growth of medical tourism. Many patients from other countries are traveling to Southern Asia to receive medical treatment due to the quality of healthcare services and the lower costs compared to their home countries. This trend is particularly evident in countries like India, Thailand, and Malaysia, which have become popular medical tourism destinations.Another trend in the hospitals market in Southern Asia is the increasing adoption of technology. Hospitals are investing in electronic medical records, telemedicine, and other digital solutions to improve patient care and streamline operations. This trend is driven by the need to provide more efficient and effective healthcare services, as well as the increasing demand for remote healthcare services.

Local special circumstances: Southern Asia is a diverse region with varying healthcare needs and challenges. Countries like India and Pakistan have large populations with high healthcare demand, while smaller countries like Sri Lanka and Bhutan have more limited healthcare resources. Additionally, some countries in the region are still developing their healthcare infrastructure and may face challenges in attracting investment and qualified medical professionals.

Underlying macroeconomic factors: The growth of the hospitals market in Southern Asia is supported by several macroeconomic factors, including population growth, rising incomes, and increasing healthcare awareness. As the population in the region continues to grow, so does the demand for healthcare services. Rising incomes also mean that more people can afford to pay for healthcare services, while increasing healthcare awareness means that patients are more likely to seek medical treatment when needed.In conclusion, the hospitals market in Southern Asia is growing due to a combination of factors, including increasing demand for healthcare services, the growth of medical tourism, and the adoption of technology. While there are challenges in some countries in the region, the overall trend is positive, and the healthcare industry is expected to continue to grow in the coming years.

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.