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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

Seoul-based digital beauty and healthcare company Carelabs has acquired 53% of Eunogo, an online beauty and wellness concierge start-up.
Medical tourism accounts for at least one-third of private hospitals’ revenue in Southeast Asian countries.
Singapore’s Ministry of Health and Urban Redevelopment Authority today announced plans to develop a new residential care community for people with dementia and called for tenders for its development.
Singapore-based Novena Global Lifecare, one of the world’s largest integrated medical healthcare and aesthetic companies has completed a $350 million merger with Xingkeduo.
Mumbai-based primary healthcare aggregator HealthAssure has raised $2.5 million in Series A funding led by early stage venture capital fund Blume Ventures.
One BioMed, a Singapore-based medical diagnostics company, has closed a $5 million Series A financing round, led by Singapore-based Biopath Ventures and US-based ARCH Venture Partners.
Six Sigma Star Healthcare is to build an institute of mountain medicine, training and research centre in the Rudraprayag district of Uttarakhand in northern India close to the Himalayas.
Senyi, a medical artificial intelligence company in China, has completed a ¥250 million ($36.3 million) round of Series C financing, led by Tencent, with participation by Sinopharm Capital.



Analysis

Against the backdrop of a robust healthcare market with positive macro factors, speakers and delegates delved into the opportunities and challenges, and analysed the changing face of the region’s healthcare market
L.E.K. Consulting’s Fabio La Mola tells HealthInvestor Asia about a healthcare market going through major changes – creating significant opportunities for investors in the region.
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.


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