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Indonesia, Vietnam Present Strong Growth Potential in Healthcare

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Indonesia, Vietnam Present Strong Growth Potential in Healthcare

by CFO Innovation Asia Staff, 03 August 2012
topics:
Management
tags:
healthcare industry healthcare spending
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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 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. 
 
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," says 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," notes Srinivasan.
 
 
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The demand for quality
Submitted by Prabir Banik on 16 January 2013 - 5:12pm

The demand for quality health care is bound to grow more, so there should be more healthcare facilities offering quality service to the patients. But some steps should also be taken to ensure that the costs of medication, tests are within the reach of people. Sometimes the costs get covered in a different way, such as if someone gets hurt in the workplace or falls ill due to hazardous work environment then a workers compensation could save him financially.

Every nation has the
Submitted by Aakash Chatterjee on 19 December 2012 - 4:39pm

Every nation has the responsibility to provide the best healthcare facility to the people. In the healthcare sector, the costs are increasing, so the people need policies that would help them fulfill their healthcare needs without difficulty. More awareness should be generated among people regarding health issues. You have to be familiar with your health condition, if you are an athlete then you have to work on your fitness, have to know about bulking and cutting cycles and other health oriented issues.

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