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The Asia-Pacific region has seven of the world’s ten most populous countries, and is home to over 4.5 billion people. With the population of Asia accounting for 60% of the global population, the demand for healthcare services is increasing in line with the unprecedented growth of the middle class population, presenting huge opportunities for healthcare companies looking to enter the market.
Both public and private hospitals in Asia are increasingly looking to invest in efforts to increase operational efficiency, improve clinical outcomes, and boost profit margins.
Healthcare demand in Asia is reaching unprecedented growth, with rapid population growth (expected to increase by 625 million people by 2040 compared to 2016)*. A significant factor is the rising middle-class population making the Asian market a major opportunity for healthcare companies.
Opportunities in healthcare is not limited to Asia’s local population, but also a growth in the medical tourism industry as well. Malaysia saw over 850,000 healthcare travellers in 2015, hitting 90% of its target by September and generating around US$205m. Over the next ten years China is predicted to see travel spend rise 86% to US$255 billion.**.
Private and public hospitals in Asia are increasingly looking to invest in IT Solutions. Mordor Intelligence has predicted that the healthcare analytics market, valued at $990m in 2014, will reach $4.1bn by the end of 2020. This represents growth of 26.6% CAGR over the six year forecasted period.
The Asia Pacific Healthcare market represents an impressive 29% of global revenues. The region has a current market size of close to US$500 million and is still the fastest growing region globally, witnessing a projected growth rate of 11.5% for 2016 (4.6% higher than the projected growth rate for the rest of the world).***).
The Asia-Pacific region has seven of the world’s ten most populous countries, and is home to over 4.5 billion people, 60% of the world’s population.
Smart data has been growing trend for the Asia Pacific healthcare sector with a focus on data collection and data analytics, to enable personalised medicine and improve overall healthcare for the entire population.