With a population of 620 million, ASEAN represents approximately 8.6% of the global population.
With a combined GDP of US$2.4 trillion in 2013, growing at an average annual rate of 5.6%, the region’s economic growth outpaces many other regional and global economies.
Demand for healthcare services is expected to surge due to factors such as population ageing, growing prevalence of chronic diseases, and urbanisation.
The high level of opportunity is likely to be augmented by liberalisation measures taken by the respective governments to boost private and foreign investments and shrink the gaps in healthcare delivery.
This study highlights key opportunities in areas such as healthcare services, aged care, telehealth, and patient monitoring.
Key FindingsFrom 2010 to 2020, the growth potential of healthcare and foreign investments in the healthcare sector in Southeast Asia (SEA) is likely to be impacted by several events:
– Implementation of the ASEAN Economic Community (AEC) by the end of 2015 will drive regional economic integration and the free movement of goods, services, investments, and skilled manpower. Healthcare, eCommerce, logistics, and tourism are priority sectors for liberalisation.
– In September 2014, all ASEAN countries signed the ASEAN Medical Device Directive (AMDD) to simplify the medical devices registration framework for foreign companies entering the ASEAN medical devices market.
-In January 2014, the Indonesian government launched its national health insurance programme (JKN), which is committed to achieving universal health insurance coverage in Indonesia by 2019
.- In 2013, the Philippines introduced the Universal Health Care Act to ensure that all Filipinos, especially the poor, receive health insurance coverage from the Philippine Health Insurance Corporation.
– In 2012, Singapore rolled out the Healthcare 2020 Masterplan, which aims to double the government’s healthcare expenditure and expand hospital and aged care infrastructures.
– In 2010, Malaysia launched the Economic Transformation Programme (ETP) with an objective to elevate the country to a developed nation status by 2020.
Healthcare is one of the 12 national key economic areas (NKEAs) prioritised by the government to encourage private investments in areas such as manufacturing of pharmaceutical- products, medical devices, clinical research, and aged care services and to support collaborative efforts between public and private healthcare providers.
-Vietnam launched the Masterplan for Universal Coverage in 2012, which intends to expand healthcare coverage to at least % of the population by 2020.
The Role of Telemedicine Today: During and Beyond the COVID-19
Lockdowns, quarantine periods, and hospitals fast filling to the brink needed the medical community to come up with solutions fast. Telemedicine was uniquely placed to help solve many of these problems.
Southeast Asia Covid-19 Latest News
The Delta variant has ripped through Southeast Asia in recent weeks, undoing many countries’ progress against the Covid-19 pandemic. Indonesia has been hit especially hard.
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19...
Thailand dropped from UK’s tough covid-19 travel ‘red list’
Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to...
The ASEAN-Russia Trade and Investment Cooperation Work Program
ASEAN and Russia recently agreed to enhance and widen economic cooperation at the 10th ASEAN Economic Ministers (AEM)-Russia Consultations held...
Flexible Workspace Startup Worklounge Debuts with 20+ Luxury Member Lounges in Thailand
Worklounge launches a premium membership granting remote professionals and executives access to exclusive hotel lounges across Thailand. Their platform is...
5 insights to guide ASEAN’s digital generation in a post-pandemic world
We surveyed 86,000 people from six ASEAN countries about their views for a post-pandemic world. The ASEAN Digital Generation Report...