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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


News

StarMed@Farrer Square, the subsidiary of SGX-listed private healthcare provider Health Management International, has agreed to buy additional units in Farrer Square for S$36.7 million (US$26.7 million).
Orthopaedic specialists Asian Healthcare Specialists (AHS) has signed an investment agreement with Vanda 1 Investments, which is managed and controlled by Temasek Holdings unit Heliconia Capital Management.
Medical technology company Medmain has announced the alpha testing of its ground-breaking, pathology diagnostic software: PidPort. This was originally developed in Japan to enable precise and incredibly fast diagnosis of human body pathologies of all types, with most diagnoses completed in less than one minute. Medmain recently began testing the software in hospital sites in Japan, Thailand and Estonia.
Medical diagnostic imaging services provider Capitol Health has acquired a further two clinics in South West WA, which trade under the name West Coast Radiology and service the high-growth area surrounding Eaton (close to Bunbury) and Busselton.
China's Ping An Good Doctor (PAGD) announced its cooperation with more than 100 First-Class Hospitals at Grade III in China, including the 303th Hospital of Chinese People's Liberation Army, Qingdao Eye Hospital, the First Affiliated Hospital of Jinan University and the Third Affiliated Hospital of Southern Medical University, to build comprehensive "smart hospitals". At present, Ping An Good Doctor covers more than 1 million outpatients per day, effectively reducing the burden on hospitals, doctors, patients and the government.
Global alternative asset manager The Carlyle Group together with Meinian Onehealth Healthcare Holdings has invested in and become the single largest shareholder of Adicon, one of the largest independent clinical laboratory companies in China.
RepliCel Life Sciences, a company developing next-generation technologies in aesthetics and orthopaedics, has raised C$5.1 million (US$3.8 million) from YOFOTO (China) Health Industry.
China's Ping An Good Doctor (PAGD) has announced a strategic partnership with Zhongxin Pharmaceuticals. The two parties will build an online cardiovascular disease management centre in China.



Analysis

Abrar Mir is that rare thing in the healthcare sector: a voice of reason. It notable that when he speaks at conferences, the chatter outside the auditorium diminishes and seats suddenly become hard to find. Part of this is thanks to his position as managing partner of Singapore-based private equity fund Quadria Healthcare, which he co-founded in 2012. But as much of it is due to his quiet authority and passion, as it is to the US$1.5 billion he has under management across the Asia Pacific region.
SOHO Global Health was founded in 1946 in Jakarta by Tan Tjhoen Lim as an injectables-focused pharmaceutical company. Today it is one of the largest pharmaceutical manufacturing and distribution businesses in Indonesia with a network that covers more than 80% of the hospitals and 90% of the pharmacies in the country.
Anupa Naik speaks nineteen to the dozen. The chief executive of Symple Wellness, a healthcare company set up in Singapore in July last year as an offshoot of the family office AJ Capital, has barely stood still since then, and shows no sign of stopping any time soon.
After listing on the Hong Kong Stock Exchange at the beginning of May, Ping An Healthcare and Technology, formerly known as Good Doctor, shows no sign of slowing down.
Amy Khor, senior minister of state, ministry of health in Singapore, looks at the challenges of how to deliver healthcare in the future.
First you must find a clinic space from which to practice. The good news is that space is available at most hospitals. The bad news is that a 1,200 square-foot clinic space at Mount Elizabeth Hospital currently retails for around S$10 million, or US$7.34 million to secure a space less than half the size of a tennis court. By the time you add fittings, equipment and staff, your relationship with your bank manager will likely be under severe strain.
China’s hospital landscape is rapidly changing as operators and owners respond to shifting policy incentives, an aging population, the opportunity to serve Tier 2 and 3 cities, and shifts in consumer preferences.
Today, more and more people are suffering from serious, incurable, and/or rare illnesses. However, access to information on such conditions has been quite limited, to hospitals or internet surfing. Even though there were communities and organizations serving people with certain illnesses, information was not widely available, due to the general nature of the illnesses.
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