Research Nester has released a report titled “Asia Pacific Healthcare and Social Services Market – Regional Demand Analysis & Opportunity Outlook 2027″which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The World Health Organization (WHO), in one of its statistics stated that 8.5 million lives are lost each year in the South-East Asia region due to noncommunicable diseases (NCDs), such as cardiovascular, chronic respiratory diseases, diabetes and cancer amongst others.
The statistics portray the growing concern for the burden of chronic diseases in Asia Pacific region which is resulting in an increasing focus amongst individuals to stay safe and healthy. As such, many individuals in the region are increasingly spending on healthcare checkup activities, such as visiting doctors for regular checkups and further opting for health insurances, which have more or less turned into a regular regime. On the other hand, significant investments in the healthcare infrastructure in the region is being observed by means of development of hospitals and also by letting private players participate in the same. The growing concern for chronic diseases amongst individuals in the region along with the rising investments by the government of the nations in the region to develop the healthcare infrastructure are some of the factors anticipated to drive the growth of the Asia Pacific healthcare and social services market.
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The Asia Pacific healthcare and social services market is anticipated to grow with a modest CAGR over the forecast period, i.e. 2021-2027. The market is thriving on account of growing concern for the increasing chronic diseases amongst individuals in the region, coupled with rising awareness for economic protection against unexpected losses borne by individuals in the region which is raising the need for social security. The market was valued at around USD 1400 billion in the year 2018 and is anticipated to reach a value of around USD 2600 billion by the end of 2027 by growing at around 1.80x during the period. Additionally, the Asia Pacific healthcare and social services market is predicted to attain an absolute $ opportunity of around USD 1200 billion in-between 2018 and 2027 by growing at around 1.80x during the period.
The Asia Pacific healthcare and social services market is segmented by type into private hospital, public hospital, medical insurance, nursing homes and others. Among these segments, the public hospital segment held a value of around USD 790 billion in the year 2018 and is anticipated to cross a value of around USD 1300 billion by the end of 2027 by expanding at a CAGR of around 6% during the forecast period. The segment also held a market share of around 54% in the year 2018 and is also anticipated to attain an absolute $ opportunity of around USD 510 billion between the years 2018 and 2027.
The Asia Pacific healthcare and social services market is also segmented by area into urban and rural. Among these segments, the urban segment is anticipated to reach a value of around USD 2100 billion by the end of 2027 by growing at a CAGR of around 7% during the forecast period. Additionally, the urban segment in the Asia Pacific healthcare and social services market is also anticipated to attain an incremental $ opportunity of around USD 150 billion in the year 2027 as compared to the previous year.
This report also studies existing competitive scenario of some of the key players of the Asia Pacific healthcare and social services market, which includes profiling of AXA (EPA: CS), Berkshire Hathaway Inc. (NYSE: BRKA), MS&AD Insurance Group Holdings, Inc. (TYO: 8725), Dai-ichi Life Holdings, Inc. (TYO: 8750), Nippon Life Insurance Company, UnitedHealth Group (NYSE: UNH), MetLife Services and Solutions, LLC, China Life Insurance (Overseas) Company Limited, AIA Group Limited (HKG: 1299) and Biotricity (OTCMKTS: BTCY).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Asia Pacific Healthcare and Social Services Market – Regional Demand Analysis & Opportunity Outlook 2027”, analyses the overall Asia Pacific healthcare and social services industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Asia Pacific healthcare and social services market in the near future.
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