Frost & Sullivan: Healthcare Delivery in APAC Upon Economic Recession

KUALA LUMPUR, Malaysia, May 25 /PRNewswire/ -- While the economic recession poses great challenges for the global industries to handle, the healthcare delivery market remains as one of the few recession proof sectors, alongside education and entertainment industries. Growing & ageing population, globalization of medical delivery services, and growing prevalence of chronic diseases have enhanced the necessity of profound healthcare delivery systems globally.

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Frost & Sullivan, consultant Keith Lee explains, "Across APAC, the healthcare delivery market is mainly driven by the changing demographics, which result in the strong rise of ageing population and chronically based diseases. Furthermore, the enhanced quality of healthcare in APAC has provided opportunities for countries like Thailand, India, Malaysia, and Singapore to potentially develop as the medical hubs in the region. In line with the growing affluence of the middle income population, healthcare players had given the onus to enhance the delivery of healthcare with the integration of Healthcare Information Technology (HCIT) to enhance efficiency level."

"As a result, the capabilities in treating chronically based diseases, facilities for geriatric care, establishment of HCIT operational platforms and the attainment of international recognitions, such as JCI accreditations, are likely to be the prerequisites for healthcare providers to remain regionally competitive in the future," he further elaborates.

The prevailing factors of growing and ageing population, increasing dominance of chronic disease, medical tourism popularity, and the improved affordability of quality healthcare through national health insurance programmes established in various member countries are likely to push APAC healthcare delivery sector beyond the US$ 570 billion mark by 2012.

"Despite the supporting growth factors in APAC healthcare delivery, majority of the developing countries are still faced with the challenges of insufficient funding for the healthcare sector in relation to the national GDP and disparity in terms of distribution of healthcare within the urban and rural regions. Furthermore, the attraction of new players and the expansion of the existing major players will likely intensify the level of competition in both the domestic and regional markets, in which majority of the healthcare providers are expected to compete on the basis of operational efficiencies and brand name leveraging," explains Lee.

The fast growing competition for the lucrative healthcare delivery market signifies the importance of healthcare players to react timely and efficiently towards the changing trends in the market. In the present scenario, corporate activities, such as M&A and partnerships are gradually gaining popularity for rapid turnarounds and swift penetration into diversified healthcare segments.

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    Contact:
    Emmie Kaur
    Corporate Communications -Healthcare, Asia Pacific
    DID: +603 6204 5913
    Email: emmie.kaur@frost.com

    Jasminder Kaur
    Corporate Communications -Healthcare, Asia Pacific
    DID: +65 6890 0937
    Email: jkaur@frost.com

SOURCE Frost & Sullivan