Inpatient Care - South Africa

South Africa

The projected revenue in the Inpatient Care market in South Africa is expected to reach €4.91bn in 2024.
This indicates a positive trend in the market's financial performance.
Furthermore, it is anticipated that there will be an annual growth rate (CAGR 2024-2029) of 2.18%, leading to a market volume of €5.47bn by 2029.
This growth signifies the potential for expansion and development within the Inpatient Care market sector.
When comparing South Africa's market to the global landscape, it is worth noting that United States is expected to generate the highest revenue, with an estimated value of €671.20bn in 2024.
This showcases the significant market presence and economic impact of the United States in the Inpatient Care market industry.
The demand for private inpatient care services in South Africa has surged due to the lack of trust in the public healthcare system.

Key regions: United States, Germany, Brazil, United Kingdom, Japan

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Analyst Opinion

South Africa is experiencing a growing demand for Inpatient Care, driven by various factors.

Customer preferences: South African patients are increasingly seeking high-quality medical care that is affordable. The demand for Inpatient Care has been on the rise as patients prefer to receive care in a hospital setting where they can access 24-hour medical attention and specialized care. Additionally, patients are more inclined to seek care in private hospitals as they believe that the quality of care is better compared to public hospitals.

Trends in the market: There has been a significant increase in the number of private hospitals in South Africa. This has been driven by the growing demand for Inpatient Care and the need to provide affordable and high-quality medical services to patients. Private hospitals are investing in state-of-the-art technology and equipment to ensure that patients receive the best possible care. Additionally, there has been a trend towards specialization in private hospitals, with hospitals focusing on specific medical areas such as cardiology, neurology, and oncology.

Local special circumstances: South Africa is facing a shortage of healthcare professionals, particularly doctors and nurses. This shortage has resulted in longer waiting times for patients seeking medical care, particularly in public hospitals. As a result, patients are increasingly turning to private hospitals for Inpatient Care, where waiting times are shorter and the quality of care is perceived to be higher. However, the high cost of private healthcare has made it inaccessible to many South Africans, particularly those in lower-income groups.

Underlying macroeconomic factors: South Africa's economy has been growing at a slow pace, with high levels of unemployment and poverty. This has resulted in a large portion of the population being unable to afford private healthcare, leading to a reliance on public healthcare services. The government has been investing in the healthcare sector, particularly in public hospitals, to improve the quality of care and reduce waiting times. However, the demand for Inpatient Care continues to outstrip supply, particularly in public hospitals, resulting in longer waiting times for patients. In conclusion, the Inpatient Care market in South Africa is experiencing growth driven by the increasing demand for high-quality medical services that are affordable. The trend towards specialization in private hospitals and the shortage of healthcare professionals in the country are also contributing factors. However, the high cost of private healthcare and the slow pace of economic growth in the country are challenges that need to be addressed to ensure that all South Africans have access to quality healthcare services.

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.