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Analysis Shifts in APAC healthcare

The Asia-Pacific (APAC) healthcare industry is undergoing rapid transformation with a dramatic shift in consumer behaviour and expectations, opening up growth opportunities across diagnostics, regenerative medicine, medical tourism and digital health.

The positive growth is fuelled by increasing adoption of new technology, innovative healthcare access programs, and delivery of care outside traditional hospital settings. Frost & Sullivan projects a revenue growth of over 12% in 2018, making APAC one of the fastest growing regions for the healthcare industry in the world.

Frost & Sullivan’s recent analysis, Asia-Pacific Healthcare Outlook, looks at a number of predictions for the APAC healthcare industry.

“Through digital transformation healthcare companies are introducing service-orientated business models, and direct-to-consumer care delivery platforms in the region,” said Natasha Gulati, industry manager, transformational health, Frost & Sullivan. 

“Meanwhile new approaches to health and wellness, like “omics” based health advisory and gamification are gaining market momentum,” she added. 
Gulati recommends players focus on personalisation, combined with consumer empowerment, as a key ingredient for disease prevention and patient wellness. Innovative companies active in this space include Prudential, iCarbonX, and Healthi which are moving toward personalised wellness intervention through the introduction of direct-to-consumer gene sequencing, and Thorne Research and Imagene Labs which are about to make available personalised over-the counter nutritional supplements and skin care products on a subscription model. 

Six key trends spurring growth opportunities in the APAC healthcare industry include: the rise of new payment models, especially those tied to value-based outcomes; fast-tracked innovative therapeutic products, development and penetration of regenerative medicine, biosimilars, and genetics; technology innovation with rapid development in areas like Artificial Intelligence, mHealth, and virtual reality; the development of personalisation combined with consumer empowerment for prevention and wellness; the adoption of wireless real-time monitoring, aided by analytics, as the clinical community aims for further efficiency and outcome-based approaches; and the rapid deployment of cloud solutions to increase IT efficiency in non-clinical departments.

 “An important global trend that is currently missing in APAC is the introduction of value-and outcomes-based payment and reimbursement models. Industry suppliers, including IT vendors, medical technology companies and pharmaceuticals, are partnering with public and private payers to introduce outcomes-based reimbursement models for expensive therapeutic products and services in other parts of the world,” noted Gulati.

Posted on: 14/05/2018 UTC+08:00


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Analysis

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