Both countries have increased their healthcare spending and aim to modernize healthcare infrastructure by 2020
KUALA LUMPUR, Malaysia, Aug. 2, 2012 /PRNewswire-Asia/ -- Rising wealth, the ageing and growing population, demand for quality healthcare, and increase in the number of hospitals are factors supporting the growth of the healthcare industry in Indonesia and Vietnam. Healthcare spending has significantly increased in the past decade in these emerging economies, helping the industry expand. Governments in both countries are also encouraging private sector investment.
New analysis from Frost & Sullivan (http://www.pharma.frost.com), South East Asian Emerging Markets-Indonesia and Vietnam Healthcare Outlook 2012, find 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 - medical imaging, medical devices, healthcare information technology (IT), pharmaceutical and biotechnology. This study presents key findings, market revenue forecasts, and the mega trends influencing healthcare along with an insightful review of growth opportunities in each healthcare segment.
With increase in communicable and non-communicable diseases, changes in health insurance patterns and favourable 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 neighbouring 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 as well.
Further, the dramatic increase in mobile phone users in both countries will fuel tele-health as an important tool to enhance and enable healthcare access and monitoring.
The over the counter (OTC) medication market too is expanding. 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 behaviour of Vietnamese.
"Overall, the total revenue of Indonesia and Vietnam healthcare market will move from US$8.20 billion in 2011 to US$12.01 billion in 2015, and the compound annual growth rate (CAGR) for the period is 10.0 percent," noted Srinivasan.
If you are interested in more information about this study, please send an e-mail with your contact details to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com.
South East Asian Emerging Markets-Indonesia and Vietnam Healthcare Outlook 2012 is a part of the Market Insights - Healthcare subscription, which also includes research such as Asia-Pacific Healthcare Outlook 2012-2015, Changing Dynamics in the Pharma and Biotech Industry 2012, Telehealth Healing Healthcare: The Hidden Markets Transforming Healthcare , Long-Term Care in Germany, A Product and Pipeline Analysis of the U.S. Breast Cancer Therapeutics Market, and Human Tissue Engineering Market in Europe, among many others. These Market Insights are part of Frost & Sullivan Growth Partnership Service.
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South East Asian Emerging Markets-Indonesia and Vietnam Healthcare Outlook 2012
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Contact:
Donna Jeremiah
Corporate Communications - Asia Pacific
P: +61 (02) 8247 8927
E: djeremiah@frost.com
Carrie Low
Corporate Communications - Asia Pacific
P: +603 6204 5910
E: carrie.low@frost.com
Dewi Nuraini
Corporate Communications - Indonesia
P: +62 21 571 0838
E: dewi.nuraini@frost.com
