Civica
Financial intelligence for Asia's healthcare markets
 
 
Remember me:

Analysis: The bias against diabetes

The latest Sun Life Financial Asia Diabetes Awareness Study reveals an alarming knowledge gap in diabetes. A third of Asian women who are or were pregnant in the past three years are unaware of the risk of developing gestational diabetes in pregnancy, while one in seven births in Asia is currently affected by gestational diabetes.

The prevalence of diabetes is a growing health challenge in the region. “Sun Life has commissioned study to demystify this chronic disease,” said Jeremy Young, chief marketing officer, Sun Life Financial Asia. “It aims to bridge the knowledge gap and promoting positive perception change towards diabetes, helping people live healthier lives – both physically and mentally, in addition to achieving lifetime financial security,”

Almost a third of respondents in the region do not even know there is more than one type of diabetes. Hong Kong, one of the most developed surveyed markets, sees the lowest level of awareness with 40% of respondents not knowing this fact, whereas the Philippines demonstrates a better basic understanding of diabetes, with 85% of respondents stating they are aware of the fact.

“As evidenced by Hong Kong people’s misunderstanding of diabetes, more efforts should be devoted to address the issue,” said Belinda Au, general manager of distribution and marketing, Sun Life Hong Kong.  “In Hong Kong, Sun Life has been partnering with diabetes organisations to educate the public on the disease and will continue to be committed in doing so to raise public awareness.”

The survey also finds that respondents believe diabetes decreases life expectancy by 19 years on average, when in fact, the average is between 10 and 12 years: a significant gap between perception and reality.

About half of the respondents from Vietnam, the Philippines and Hong Kong believe that diabetes represents a burden on public healthcare systems.

On average, respondents across the region estimate that a person with diabetes has to pay approximately US$1,778 for treatment every year. Hong Kong tops the list – with the estimate at approximately US$4,400 whereas the four southeast Asian markets record an average estimate of below US$1,120. When comparing the estimate with each market’s GDP per capita, Vietnam is the most extreme case where the cost estimate is more than half of its GDP per capita (approximately US$2,310) whereas the figure accounts for one tenth of Hong Kong’s GDP per capita – approximately US$45,000.

“The alarming prevalence of diabetes in Asia will continue to put economic burden on the public healthcare systems, as well as on diabetics and their families,” added Young.

The study reveals the public’s bias towards diabetics and strong associations with unfavourable characteristics, such as dangerous driving, laziness, lack of energy, not being athletic and having mood swings. Such stigma also exists in Hong Kong, where more than half of respondents think that diabetics are not energetic.

Au continued: “Social stigma towards diabetics adversely impacts the mental health and wellness of diabetics, yet it is often overlooked. With Sun Life’s purpose in helping people live healthier lives – both physically and mentally in addition to achieving lifetime financial security, we are keen to drive, and hopeful to see, positive perception change and reduce bias against diabetes.”

Posted on: 14/11/2017 UTC+08:00


News

Medical diagnostic imaging services provider Capitol Health has said that it expects to return to profitability in the next financial year and has upgraded its outlook for the year.
Paragon Care, a leading distributor and manufacturer supplying medical equipment to hospitals, has said that it is “targeting strong growth in 2018 across all key metrics”.
Malaysian medical glove manufacturer Supermax Group has reported a 42.8% jump in Q1 profits to M$27.9 million (US$6.8 million) on revenues that 16% to M$312 million.
At its annual general meeting, international pathology, imaging and medical centres operator Sonic Healthcare reaffirmed guidance for the year. Chief executive Colin Goldschmidt said that the first quarter of the 2019 financial year confirmed expectations that underlying earnings would grow between 6% and 8% on a constant currency basis.
It has been another great quarter for China Cord Blood Corporation (CCBC), the country’s largest provider of cord blood storage and ancillary services. For the second quarter in a row, profits more than doubled. They came in at US$10.2 million.
New Zealand-based medical device manufacturer Fisher & Paykel Healthcare has reported a steady set of first half figures. Profits were up 4% to NZ$81.3 million (US$55.3 million) on revenues that rose 8% to NZ$458.4 million.
Retirement village operator Arvida has reported a 14.5% slump in profits for the first half of the year to NZ$14.5 million (US$9.9 million). At the same time, revenues were up 27.9% to NZ$60 million.
Medical device manufacturer Microport Scientific Corporation plans to acquire the cardiac rhythm management (CRM) business of London-based medical device manufacturer LivaNova for US$190 million.



Analysis

The promise of a bottom in Singapore’s office market has caused its ranking as an investment market to soar from next-to-bottom last year to third in this year’s “Emerging Trends in Real Estate Asia Pacific 2018” report, a real estate forecast jointly published by the Urban Land Institute (ULI) and PwC.
Kamal Brar, vice president and general manager of Asia Pacific for data software company Hortonworks, looks at how data analytics can provide effective and affordable healthcare in Singapore.
The latest Sun Life Financial Asia Diabetes Awareness Study reveals an alarming knowledge gap in diabetes. A third of Asian women who are or were pregnant in the past three years are unaware of the risk of developing gestational diabetes in pregnancy, while one in seven births in Asia is currently affected by gestational diabetes.
Gan Kim Yong, Singapore’s minister for health, explains why the private sector needs to get behind the National Electronic Health Record System.
Business leaders in Asia Pacific’s healthcare industry are showing urgency in embracing the fourth industrial revolution, according to the Microsoft Asia Digital Transformation Survey. More than three-quarters of them believe that they need to transform to a digital business to enable future growth and yet only a quarter said that they have a full digital strategy in place today.
An agreement for an additional US$15 million funding from the World Bank will be used to expand health and nutrition coverage in the Lao People's Democratic Republic. It is expected to benefit more than 1 million people across 14 provinces.
Bart Van den Mooter, CEO of the TforG Group, looks at the drivers behind the rapid growth in Asia’s medical tourism market.
The ambitious healthcare agenda under Moon Jae-in's liberal presidency will seek to expand national health insurance reimbursement and limit the burden of excessive medical costs, while overhauling the healthcare system. BMI Research looks at the winners and the losers in the presidential agenda.


Civica

Podcasts

AON

Hedge Fund Focus

HealthInvestor Asia twitter feed
HIA Indices