Asia Pacific Healthcare and Social Services Market
Part 1 Industry Overview
1.1 Healthcare and Social Services Overview
1.2 Market Segment
1.2.1 By Healthcare Facilities
1.2.2 By Location
1.3 Asia-Pacific Healthcare and Social Services Market Overview
Part 2 Major Companies Profile
2.2 AIA Group
2.4 China Life Insurance
2.6 UnitedHealth Group
2.7 Nippon Life Insurance Company
2.8 Dai-ichi Life Holdings
2.9 MS&AD Insurance Group Holdings
2.10 Berkshire Hathaway
Part 3 Industry Environment
3.4 Consumer Needs
Part 4 Healthcare and Social Services Market by Healthcare Facilities
4.1 Market Size
4.2 Market Forecast
4.3 Market Share by Healthcare Facilities
Part 5 Healthcare and Social Services Market by Location
5.1 Market Size
5.3 Market Forecast
5.3 Market Share by Location
Part 6 Asia-Pacific Market by Country
6.1 China Market Status and Future Forecast
6.1.1 China Market by Healthcare Facilities
6.1.2 China Market by Location
6.1.3 China Market Size Growth
6.1.4 China Market Growth by Healthcare Facilities and Location
6.2 Indonesia Market Status and Future Forecast
6.2.1 Indonesia Market by Healthcare Facilities
6.2.2 Indonesia Market by Location
6.2.3 Indonesia Market Size Growth
6.2.4 Indonesia Market Growth by Healthcare Facilities and Location
6.3 India Market Status and Future Forecast
6.3.1 India Market by Healthcare Facilities
6.3.2 India Market by Location
6.3.3 India Market Size Growth
6.3.4 India Market Growth by Healthcare Facilities and Location
6.4 Japan Market Status and Future Forecast
6.4.1 Japan Market by Healthcare Facilities
6.4.2 Japan Market by Location
6.4.3 Japan Market Size Growth
6.4.4 Japan Market Growth by Healthcare Facilities and Location
6.5 Malaysia Market Status and Future Forecast
6.5.1 Malaysia Market by Healthcare Facilities
6.5.2 Malaysia Market by Location
6.5.3 Malaysia Market Size Growth
6.5.4 Malaysia Market Growth by Healthcare Facilities and Location
6.6 Singapore Market Status and Future Forecast
6.6.1 Singapore Market by Healthcare Facilities
6.6.2 Singapore Market by Location
6.6.3 Singapore Market Size Growth
6.6.4 Singapore Market Growth by Healthcare Facilities and Location
Part 7 Multichannel Marketing in Healthcare and Social Services
Part 8 Recent News And Development
Part 9 Key Market Opportunities
Part 10 Industry Risk Analysis
Part 11 Research Conclusion
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
October 2019: AXA announced that it would be selling its subsidiary Axis Bank Belgium to Crelan for a consideration worth USD 694.29 million.
The rising awareness for economic protection against unexpected losses borne by individuals in the region which is raising the need for social security along with growing concern for the increasing chronic diseases amongst individuals in the region are some of the factors believed to benefit the expansion of the Asia Pacific healthcare and social services market. Financial protection is a basic factor which is required by each and every individual to live a life. Owing to the increasing number of chronic diseases observed over the years in the region, there is an increase in the purchase of healthcare and social services products, such as insurance. On the other hand, people are increasingly visiting hospitals, community health services and others to get cure from such illness. Such a factor is driving the providers of healthcare and social services in Asia Pacific region to develop and meet the demand for healthcare and social services products. Further, the Asia Pacific healthcare and social services market is slated to grow at modest CAGR over the forecast period, i.e. 2021-2027. The Asia Pacific healthcare and social services market was valued at around USD 1400 billion in the year 2018 and is predicted to reach a value of around USD 2600 billion by the end of 2027. Additionally, the market is also anticipated to attain an absolute $ opportunity of around USD 1200 billion in-between 2018 and 2027 by growing at around 1.80x during the period.
The Asia Pacific healthcare and social services market is segmented on the basis of type into private hospital, public hospital, medical insurance, nursing homes and others. The public hospital segment is estimated to expand at a CAGR of around 6% during the forecast period and is showcasing great potential for future growth of the segment. Further, the segment, which was valued at around USD 790 billion in the year 2018 is anticipated to cross a value of around USD 1300 billion by the end of 2027 and attain an absolute $ opportunity of around USD 510 billion between the years 2018 and 2027. Additionally, the segment possessed a market share of around 54% in the year 2018. CLICK TO DOWNLOAD SAMPLE REPORT
The Asia Pacific healthcare and social services market is also segmented on the basis of area into urban and rural. The urban segment is anticipated to hold the largest market share in the year 2027 by growing at a CAGR of around 7% during the forecast period. The segment is additionally anticipated to reach a value of around USD 2100 billion by the end of 2027 and attain an incremental $ opportunity of around USD 150 billion in the year 2027 as compared to the previous year.
According to the statistics by the World Health Organization (WHO), noncommunicable diseases (NCDs), such as cardiovascular, chronic respiratory diseases, diabetes and cancer amongst others are known to be the diseases that is claiming 8.5 million lives each year in the South-East Asia region.
The increasing burden of chronic diseases in Asia Pacific is raising the need of individuals to increasingly opt for health insurances. Consumers are increasingly spending on healthcare activities to stay safe and healthy. Visiting doctors for regular checkups, added with investing on insurance products have been a regular routine of individuals in the recent years. As such, the government of the nations in the region are also increasingly spending on developing healthcare infrastructure, such as public hospitals, community healthcare centers, medical education institutes and others. In fact, private players too are taking the opportunity in offering numerous services for the benefit of the individuals. The increasing expenditure of the government of the nation for the development of healthcare infrastructure, coupled with the rising concern of the individuals to invest on healthcare and other associated healthcare products, such as insurance products, are some of the factors anticipated to drive the growth of the Asia Pacific healthcare and social services market.
Stringent regulatory compliances that are set by the government of nations in the region possesses severe risks to the industry due to the inclusion of patient’s personal information, time constraints and nature of day-to-day operations, which is anticipated to impact negatively towards the growth of the Asia Pacific healthcare and social services market.
Ans: Growing concern for the burden of chronic diseases amongst individuals, followed by government expenditures for the development of the healthcare infrastructure are some of the major factors that are driving the growth of the market.
Ans: The market is anticipated to attain a modest CAGR over the forecast period, i.e. 2021-2027.
Ans: The major players in the Asia Pacific healthcare and social services market are AXA, Berkshire Hathaway Inc., MS&AD Insurance Group Holdings, Inc., Dai-ichi Life Holdings, Inc., Nippon Life Insurance Company, UnitedHealth Group, MetLife Services and Solut
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is majorly segmented by type and by area.
Ans: The public hospital segment, which is a sub-segment of the type segment, which held a market share of around 54% in the year 2018 is anticipated to display significant growth opportunity in the future.
Ans: Stringent regulatory compliances set by the government of nations in the region is one of the major factors anticipated to act as a barrier towards the growth of the Asia Pacific healthcare and social services market.