9 reasons why the APAC healthcare industry is booming
The spotlight on the healthcare industry is now on Asia Pacific. With 60 percent of the world’s total population, the region offers considerable growth opportunities to meet the rising needs of a speedily growing and ageing population.
So, besides the literal increase in the market size, what are the other factors that constitute to the thriving APAC healthcare industry? Let’s take a look at the list below:
- Increased spending on health due to greater affluence and the pursuit of a healthier and longer life
- Increase in communicable and non-communicable diseases
- Changes in health insurance patterns
- Growing medical tourism activities in countries like Singapore, Malaysia, Thailand and South Korea
- High adoption of new technologies (e.g. home monitoring and telemetries) which target the entire spectrum of population instead of merely those in the urban areas
- Liberalization of investment policies that create opportunities for medical devices, pharmaceutical and biotechnology sectors
- Rising wealth which brings about the demand for quality healthcare, leading to the emergence of private hospitals
- Low infrastructure costs
- Availability of skilled workforces
Do you know that healthcare revenues in the region are expected to grow from the $337.94 billion in 2011 to $521.42 billion in 2015? This is at a compound annual growth rate (CAGR) of 11.5 percent, way ahead of the rest of the world, which showed a CAGR of 4.3 percent.
Preparing to jump on the healthcare bandwagon? Don’t miss the opportunity to find out how you can access the important markets in Asia that matters most to your business at Healthcare World Asia 2012! Check out our conference programme and speaker line up today!