KUALA LUMPUR, MALAYSIA – Rising wealth, aging and growing
populations, demand for quality healthcare and an increase in the number of
hospitals are driving growth for the healthcare information technology markets
in Indonesia and Vietnam, according to new analysis from Frost & Sullivan.
Overall, the total revenue of
Indonesia and Vietnam healthcare market will move from $8.20 billion in 2011 to
$12.01 billion in 2015, and the compound annual growth rate (CAGR) for the
period is 10 percent, Frost & Sullivan notes.
Healthcare spending has increased
significantly in the past decade in these emerging economies, helping the
industry expand, according to the study, and governments in both countries are
also encouraging private sector investment.
Frost & Sullivan’s “South
East Asian Emerging Markets – Indonesia and Vietnam Healthcare Outlook 2012,”
finds that Indonesia and Vietnam have drastically increased their healthcare
spending and aim to modernize healthcare infrastructure by 2020. The countries
are working to expand and invest in all segments of healthcare – healthcare
information technology, medical imaging, medical devices, pharmaceutical and
biotechnology.
With increase in communicable and
non-communicable diseases, changes in health insurance patterns and favorable
investment policies, the healthcare sector presents strong growth opportunities
in Indonesia and Vietnam.
"The countries are working
to reduce outflow of medical tourists from their country to neighboring Asian
countries due to lack of quality and timely services," said Frost &
Sullivan consultant Poornima Srinivasan. "Hence the governments are
revising legislations pertaining to healthcare investment and public-private
partnership (PPP) models to attract more private hospitals in the
country."
PPP efforts will increase
healthcare infrastructure, driving growth of all segments pertaining to
healthcare. Both countries are technology savvy and this provides opportunities
for healthcare IT.
Further, the dramatic increase in
mobile phone users in both countries will fuel telehealth as an important tool
to enhance and enable healthcare access and monitoring.
The over-the-counter medication
market is expanding, too. In Indonesia, the uptake is driven by the launch of
new retail outlets while the segment is growing in Vietnam due to the
self-medicating behavior of Vietnamese.
Bernie Monegain
Business & Investment Opportunities
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