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Asia-Pacific healthcare market expected to grow

The healthcare market in Asia-Pacific is expected to grow by 7.2% this year due to the growth of smart hospitals and developments in the home care segment and medical tourism. This, in turn, has increased the demand for technology, innovative healthcare programmes, as well as drugs and medical devices based on advanced technology.

The findings are published today in a report from ResearchAndMarkets.com titled ‘Asia-Pacific Healthcare Industry Outlook, 2019’.

Conventional growth drivers such as supportive government regulations and policies are also a major boost for projected market growth in the Asia-Pacific healthcare industry. Emerging markets such as China, India and ASEAN are expected to offer high-growth opportunities across all segments.

It is estimated that the Asia-Pacific healthcare market will grow to $486.72 billion in 2019. However, in the Asia-Pacific region, healthcare challenges remain the same; access and affordability of new technology demand complex and innovative solutions from all industry stakeholders.

Key industry issues that deserve attention include policy innovation, support for new business models, development of secure interoperable technology platforms, and the evolving role of consumers in healthcare. These emerging trends create growth opportunities for industry participants including pharmaceuticals, diagnostics, medical technology manufacturers, digital health vendors and healthcare service providers.

The report also finds the role of digital health is changing dramatically in Asia-Pacific. Digital technology is enabling improvements in the quality of drugs and medical devices, access to information and care as well as financial, clinical and operational workflows across all healthcare segments.

Posted on: 20/03/2019 UTC+08:00


News

Bangalore-based mfine, a health-tech artificial intelligence start-up from India, has raised $17.2 million in Series B funding.
Japan-based M3 has acquired a majority stake of Bengaluru-based Neuroglia Health, a provider of mobile and web-based applications for doctors and medical students in India.
Boston-based TA Associates, a global growth private equity firm, has completed a significant minority investment in Indira IVF, an infertility treatment provider headquartered in Udaipur, Rajasthan.
Digital integrated healthcare ecosystem MyHealthcare has raised $3 million from Sixth Sense Ventures, as part of its ongoing Series A fund raise.
Technology company NEC Australia has secured contracts worth more than A$23 million to enhance information and communications technology interconnectivity within the Western Australia public health system.
Chicago-based recruitment company Professional Diversity Network has announced it intends to enter into the health and wellness industry in China.
Home care booking services portal CaregiverAsia and house-call doctor app Speedoc have entered into an agreement to cross-refer their respective pools of doctors, nurses and other healthcare professionals to each other’s customers.
Jakarta-based healthtech start-up Medigo, founded in May last year, has raised seed funding from Venturra Discovery, the new seed investment arm of Venturra Capital.



Analysis

Sumit Sharma and Matt Zafra, head and principal of health & life sciences, Asia Pacific at Oliver Wyman, look at what we can expect in 2019.
Edwin Tong, senior minister for health, explains how the Ministry of Health in Singapore is supporting the growth in the number of seniors with Alzheimer's.
Penny Wan, regional vice-president and general manager, Japan and APAC, Amgen, writes about the public health challenge of cardiovascular diseases.
French-based international ophthalmic optics company Essilor has signed Letters of Intent with the Royal Government of Bhutan and the Central Monastic Body to strengthen the country’s vision care infrastructure.
April Chang, country manager at Cigna Singapore, argues that wellness programmes at work can lead to reduced absenteeism, higher productivity and increased morale among employees.
Steven Fang understands how to set up a healthcare company. Not only is he chief executive and founder of ASX-listed oncology company Invitrocue, he was also the founder of Singapore-based Cordlife Group, a healthcare company which provides cord blood and cord lining banking services.
Imagine a world in which you can consult with your doctor via video. She asks for a blood sample, which can be collected and analysed from a device in your home. After that is diagnosed, the prescription is automatically sent to the pharmacy and Uber then picks it up. The time from diagnosis to drugs at your home is only 60 minutes.
The digitisation of health data through blockchain technology is a groundbreaking solution that will empower patients and provide them with better access to healthcare.
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