Top Five Growth Sectors in the Asia-Pacific Healthcare Market
Frost & Sullivan’s thought leaders evaluate how rising consumer affluence, increasing disposable income and favorable government policies drive the Asia-Pacific healthcare market
MOUNTAIN VIEW, Calif., March 12, 2013 /PRNewswire/ –
WHEN: 10:00 a.m. EDT on Thursday, March 21, 2013 LOCATION: Online, with complimentary registration SPEAKER: Frost & Sullivan Healthcare Asia- Pacific Vice President Rhenu Bhuller Healthcare Associate Director Geeta Dhanoa Asia-Pacific Advanced Medical Technologies Senior Industry Analyst Nitin Dixit Connected Health Senior Analyst Natasha Gulati for Asia-Pacific
While global healthcare markets are forecast to grow at a less than 6 percent compound annual growth rate (CAGR) from 2012 to 2018, the Asia-Pacific (APAC) healthcare market is projected to expand at more than double this CAGR – at 12.8 percent over the same period.
What differentiates APAC from other global healthcare markets? For one thing, Frost & Sullivan finds that APAC healthcare expenditure will almost double in the next 6 years, with the largest share coming from China, Japan and India. In addition, the APAC region will consist of more than 2.3 billion people aged 65 or older in 2013, comprising 9.8 percent of the population. Frost & Sullivan estimates this elderly population segment will grow to 11 percent by 2018 across the region. To support rising demand, the APAC market will require about 180 million new hospital beds over the next decade.
Top Five Asia-Pacific Growth Sectors:
- Medical Tourism: Driven by rising affluence and increasing demand for quality healthcare, medical tourism is one of the top growth sectors in APAC in the short to medium term.
- Outpatient Surgery: This is a lucrative business option that requires less investment, with more profitability.
- Specialty Hospitals: Due to increasing lifestyle diseases such as diabetes and coronary heart disease, Asia-Pacific is a large marketplace for specialty hospitals.
- Private Medical Insurance: The increasing cost of healthcare coupled with low penetration rates of public insurance creates an expansive market for private insurance companies. Consumer empowerment will also spike private medical insurance revenues.
- Healthcare IT: To remain competitive by increasing operational efficiency, clinical outcomes and financial profitability, private and public hospitals will invest extensively in installing, maintaining and upgrading IT capabilities.
This briefing will benefit companies already participating in APAC healthcare markets by facilitating an understanding of the changes, future predictions, and growth opportunities – particularly, the best bets for healthcare investments in the region. The presentation will also prove helpful for those organizations not currently working in APAC by providing an understanding of the overall macro environment. The webinar will cover 13 major countries of Asia, with deep dives into specific countries that show higher growth potential in certain areas, in comparison to other regions.
“Healthcare expenditure continues to experience growth as rising patient demands for better healthcare will result in healthcare reforms in Asia-Pacific,” said Frost & Sullivan Asia-Pacific Healthcare Vice President Rhenu Bhuller. “The increasing life expectancy in the region will also result in more elderly requiring long-term care.”
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For more information about Frost & Sullivan’s Healthcare group, please visit: http://healthcare.frost.com.
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