Hospitals - Western Africa

Western Africa

The Hospitals market in Western Africa is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$10.89bn in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 8.11% from 2024 to 2029, resulting in a market volume of US$16.08bn by the end of 2029.
When compared to global figures, it is worth noting that in the United States is expected to generate the highest revenue in the Hospitals market, with an estimated revenue of US$1,501.00bn in 2024.
This highlights the dominance of the US market in terms of revenue.
To put these numbers into perspective, in 2024, the per person revenue generated in Western Africa's Hospitals market is approximately US$26.33.
This figure reflects the revenue generated per individual in relation to the total population of the region.
In Western Africa, hospitals are increasingly adopting telemedicine solutions to improve access to healthcare in remote areas.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The healthcare industry in Western Africa has been experiencing growth in recent years. One of the sub-sectors that have been growing in the region is the hospitals market.

Customer preferences: The population in Western Africa has been growing, and with it, the demand for healthcare services. The preference for hospitals over other healthcare facilities has been increasing due to the availability of specialized equipment and medical professionals. Patients also prefer hospitals due to the wide range of services offered, including surgery and emergency care.

Trends in the market: One of the trends in the hospitals market in Western Africa is the increase in private investments. Private investors have been setting up hospitals in the region due to the high demand for healthcare services. These private hospitals offer specialized services and are equipped with modern medical equipment. The increase in private investments has led to increased competition, which has resulted in improved service delivery and reduced costs.Another trend in the hospitals market is the adoption of technology. Hospitals in Western Africa have been investing in modern medical equipment and technology to improve service delivery. The use of telemedicine has also been on the rise, with hospitals using it to reach patients in remote areas. The adoption of technology has led to improved efficiency and better patient outcomes.

Local special circumstances: One of the challenges facing the hospitals market in Western Africa is the shortage of medical professionals. The region has a low doctor-to-patient ratio, which has resulted in long waiting times and reduced access to healthcare services. The shortage of medical professionals has also led to increased costs, as hospitals have to pay higher salaries to attract and retain medical professionals.

Underlying macroeconomic factors: The growth of the hospitals market in Western Africa can be attributed to the region's economic growth. The region has experienced an increase in foreign investments, which has led to increased economic growth. The growth of the economy has led to increased spending on healthcare, which has resulted in the growth of the hospitals market. The governments in the region have also been investing in healthcare infrastructure, which has led to the growth of the hospitals market.

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.