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HEALTHCARE & PHARMACEUTICAL

Asia Pacific Healthcare and Social Services Market Segmentation By Type (Private Hospital, Public hospital, Medical Insurance, Nursing Homes and Others) and By Area (Urban and Rural) – Regional Industry Demand Analysis and Opportunity Assessment 2018-2027

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Extensive insights into the Growth of Asia Pacific Healthcare and Social Services Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • October 2019: AXA announced that it would be selling its subsidiary Axis Bank Belgium to Crelan for a consideration worth USD 694.29 million.

Market Overview

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.

Market Segmentation Synopsis

By Type

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

Asia Pacific Healthcare and Social Services Market Graph

By Area

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. 

Asia Pacific Healthcare and Social Services Images

Market Drivers and Challenges

Growth Indicators

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.

Barriers

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.

Competitive Landscape

Some of the affluent industry leaders 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 Solutions, LLC, China Life Insurance (Overseas) Company Limited, AIA Group Limited and Biotricity.

FREQUENTLY ASKED QUESTIONS

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

2.1 Biotricity

2.2 AIA Group

2.3 AXA

2.4 China Life Insurance

2.5 Metlife

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

3.1 Policy

3.2 Economics

3.3 Sociology

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  


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