KUALA LUMPUR, Malaysia, June 5,
2013 /PRNewswire/ -- The prevalence
of chronic and infectious diseases, changing demographics, and increasing
disposable incomes have created tremendous opportunities for the hospital
sector in Asia-Pacific.
Rising patient awareness spurs demand for quality
healthcare services, forcing hospitals to adopt innovative technology, thereby
aiding market development.
New analysis from Frost & Sullivan (http://www.medtech.frost.com), Asia-Pacific
Hospital Outlook 2013, finds that the market earned revenues of more than
US$377.90 billion in 2012 and estimates this to reach US$1085.98 billion in
2017. The countries covered in the research are China, India, Indonesia,
Thailand, Vietnam, Malaysia and Hong Kong.
Governments in Asia-Pacific remain the main
financiers of healthcare, with more than 55 percent of the total healthcare
expenditure in the region incurred by the public sector. However, inadequate
budgets have led to resource constraints in terms of doctors, nurses, hospitals
and hospital beds in public hospitals. The lack of resources to handle the
growing number of patients decreases the quality of care in these choked
facilities.
"Private hospitals, on the other hand, are
growing by virtue of favourable government policies, which encourage
investments in state hospitals and public-private partnerships," said Frost
& Sullivan Healthcare Senior Industry Analyst Nitin Dixit.
"Nevertheless, high costs in the sector may deter potential consumers even
if the quality of care is good."
Another market challenge is the uneven distribution of
healthcare facilities and resources in Asia-Pacific. Rural areas in most
countries have poor access to healthcare. In addition, more than 90 percent of
large, quality private hospitals in the region are located
in Indonesia and Thailand alone.
Despite this, the private hospital segment is expected
to see robust growth primarily due to an ageing, yet affluent population, as
well as growing medical tourism, particularly in Thailand, Singapore, India and
Malaysia. The acquisition of smaller hospitals by large hospital groups
provides added economic impetus to the healthcare system in the region.
New hospital designs, fresh business models,
integration of holistic healthcare, and strong focus on healthcare IT will be
crucial for private and public hospitals in the region to increase their
competitiveness.
Market players need to invest extensively in
installing, maintaining, and upgrading hospital information systems to enhance
operational efficiency, clinical outcomes, and profitability. Sustainable and
innovative business models such as green buildings and day care centers will
ensure market expansion.
"Electronic medical and electronic health records
systems will be top priority in hospital budgets in the next five years,"
observed Dixit. "Smart hospitals are anticipated to evolve over the next
decade in Asia-Pacific."
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