LONDON, March 16, 2017 /PRNewswire/ -- Asia healthcare market is expected to grow from over $1835 billion in 2016 to over $2660 billion in 2020. This is mainly due to increasing access to healthcare facilities due to increasing government expenditure and private investments and government initiatives to promote medical insurance and foreign investment, thereby boosting the demand for healthcare services and pharmaceutical products.
Asia is the largest and most populated continent on Earth. According to the IMF, Asia's total GDP was $25.3 trillion in 2014 accounting for 32.7% in $77.3 trillion global GDP. Asia accounts for around 60% of the global population. The huge population, large economy, and advances in technology make Asia an attractive market for healthcare services.
The term healthcare refers to diagnosis, treatment, and prevention of disease or illness, and other physical and mental impairments in humans and animals. The healthcare market provides products and services to treat patients with curative, preventive, rehabilitative or palliative care.
The major trend observed in the asian healthcare market is digitalization of medical records. Digitalization of information related to patients including their medical history, diagnoses, medications, treatment plans, immunization dates, allergies, radiology images, and laboratory and test results is being made possible with Electronic Health Records (EHRs). EHRs increase patient participation, and improve diagnostic and treatment outcomes.
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