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Asia Pacific healthcare spending to surge to US$ 2,006B by 2021

It is anticipated that 2019 will be a year of value-based care in APAC Healthcare market. Future technology, medicines, and devices R&D investments are anticipated to be more targeted to meet the unique needs of emerging markets in Asia-Pacific.

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Definition / Scope

Healthcare is defined as the practice of maintaining / improving one’s health through prevention, diagnosis, and treatment of disease, illness, injury, and other impairments (physical and mental) in human beings.[1].

  • Asia Pacific is ageing rapidly and on a larger scale than any other region in the world.
  • The region is currently home to about 59.4 percent of the world’s older population while in 2019, it is estimated that the region could make up to 60.1 percent of the world's older population.
  • Many countries in the Asia-Pacific face a double burden of disease, as they still struggle to reduce maternal and child deaths at a time when the prevalence of chronic conditions and unhealthy lifestyle is growing.
  • More than one-third of adults are overweight in Asia-Pacific, and one in ten persons is obese.
  • Among children, 5% of under age 5 and more than 20% of adolescents are overweight [2].

Market Overview

Asia-Pacific Healthcare industry is valued to be at $1.69 Trillion in 2018 and is estimated to be a $1.82 Trillion market by 2019 with a CAGR of 8.1%. The market is growing at a promising CAGR due to the rapid urbanization, ageing population, sedentary lifestyles, and rising obesity levels along with chronic diseases and demand for better health services.

Geographically, Asia Pacific (APAC) healthcare industry is witnessed to be outperforming in Indonesia having a market size of USD 27 billion in 2016 and is expected to grow at a CAGR of 7.5% over the forecast period. Whereas Singapore accounts for 4th largest healthcare infrastructure across the globe [3].

Technological advancements, outpatient surgery lucrative business with less investment and more profit, increasing specialty hospitals, spiking in private medical insurance coverage and upgrading IT and healthcare operations tend to drive the APAC healthcare market in 2019. These trends have created growth opportunities for industry participants including pharmaceuticals, medical technology manufacturers, healthcare service providers, and digital health vendors.

However few factors are hindering the growth of the market like challenges of access and affordability of new technology demand complex and innovative solutions from all industry stakeholders. In addition, hurdles associated in policy innovation, support for new business models and cybersecurity may also restraint the growth of the market.

The healthcare industry is segmented on the basis of types and regions. Based on the type, the market is classified into pharmaceuticals, healthcare services, and medical equipment. Based on the geography, the Asia-Pacific market is analyzed among regions namely, China, India, Japan, and ASEAN.

The healthcare industry is highly competitive, with several big as well as emerging market players present in the market which include Bayer, Sanofi, Sinopharm, Johnson & Johnson, Roche Diagnostics, Agilent Technologies, Novartis, Philips Healthcare, 3M Company, Ge Healthcare, Thermo Fisher Scientific, Zimmer Holdings, Siemens Healthcare, Cryolife Inc, Baxter International, Medtronic, Halyard Health Inc, Olympus Corporation, Endologix Inc, Stryker Corp and Toshiba Medical Systems Corp (Canon).


Key Metrics

Metrics Value Explanation
Base Year 2018 Researched through internet

Market Risks

  • Healthcare delivery systems: The right conditions and environment are important to harness health innovation. Investment into digital/technology might not bring about significantly better health outcomes as anticipated. It is not enough to collect data. It must be translated into information that helps decision-makers and healthcare companies do their jobs.
  • Digital health and abuse: The investment in digital health totaled $6.3 billion in Asia-Pacific in 2018, a number that is expected to rocket even higher in 2019. For both smartphone-based health applications and wearable computing devices (wearable), different compliance discussions need to be had. Information security, data privacy, classification of medical devices, Electronic Records and GxP are amongst the most imminent ones. The accuracy and authenticity of readings from applications are potentially questionable and the importance of determining identity becomes paramount. There is also a potential risk of abuse by irresponsible parties. Governments are implementing risk-based regulatory framework pertaining to digital health and mobile medical applications.
  • Digitization and security: Health data is pervasive which require new tools and provider models. Data privacy and security issues become even more significant and governments are increasingly beginning to understand the risks and how to mitigate them. Cyber attacks on the healthcare industry are doubling, despite increased investments during 2018 with 27 percent of healthcare organizations reporting a cyber attack. Singapore’s public healthcare system experienced a high-profile data breach affecting 1.5 million patients, as did Hong Kong. While larger insurers, hospitals, and other stakeholders have gradually built up their cyber resilience, smaller companies will also need to make investments in order to retain customers [4].

Top Market Opportunities

Some of the key growth opportunities include:

  • Cloud and Artificial intelligence: During 2019, AI across clinical and non-clinical use cases will show hard results further bolstering the growth of in healthcare space. It is expected AI for Healthcare IT application market to cross $1.7 billion by the end of 2019. Throughout 2019, AI and machine learning will further evolve human and machine interaction. More specifically, AI will begin to see fruition, particularly in the imaging diagnostic, drug discovery, and risk analytics applications.
  • Innovative Private Insurance Models: Changing disease patterns will provide insurance companies with additional opportunities marketing digital-driven healthcare services to their policyholders to personalize the experience and reduce the cost from potential claims. It is expected that 5-10% of health insurance plans will be linked to lifestyle and health data-driven interactive policies in some form by the end of 2019.
  • Affect of big pharma and R&D investments: The healthcare market has been affected by the increased investment by pharmaceutical and medical research companies in the region. Asia-pacific is the strongest market in terms of growth, with more than 30% of the global late-stage trials for cell therapy alone. Moreover, Asia-Pacific will witness the genomics revolution in the next few years and, China will take a leading role in Asia’s genomics space. It is anticipated that by 2019, up to 10% of healthcare R&D will be invested to localize innovation for emerging markets in Asia [5].

Market Drivers

The healthcare market is flourishing in the Asia Pacific as with the technological advancements, Innovative healthcare access programmes and delivery of care besides the traditional hospital settings and is thus changing every business model in the region as well in 2019 [6]. Several drivers include:

  • Technological advancements: The Asia Pacific is emerging as one of the key regions to witness significant growth of the older population with chronic diseases. The APAC region is currently home to about 215M people who live with diabetes, and this number is expected to reach almost 366M by 2030. The Increasing cost burden from chronic health conditions and aging population will be the chief driver for digital health solution such as RPM devices, telehealth platforms, and mHealth applications. Healthcare is increasingly going digital, with technological advancements in both the public and private sectors. The investment in digital health totaled $6.3 billion in Asia-Pacific in 2018, with the greatest number of new announcements and investments coming from China and India. The products specifically for the elderly living alone  such as medical alert devices and Personal Emergency Response Systems (PERS) will also see growth in 2019. For instance, the global PERS space is set to reach about $2 billion by 2019, with almost 30% of that market value being derived from Asia-Pacific.
  • Data Analytics gaining momentum: With the increasing need to keep track of chronic disease data, Big Data analytics is also gaining momentum in the healthcare industry, and specialized companies are already making use of this opportunity. For example, U.S. based Truven Health Analytics, a provider of healthcare data analytics solutions and services, announced the opening of a Singapore-based regional head office to cater to the exponential adoption of patient and clinical data management technology in Asia-Pacific.A high number of specialty-specific analytics solutions will gain prominence among providers striving to investigate drug utilization, treatment variability, clinical trial eligibility, billing discrepancy, and self-care program attribution specific to major chronic conditions. It is estimated that by the end of 2019, 50% of all healthcare companies will have resources dedicated to accessing, sharing, and analyzing real-world evidence for use across their organizations.
  • Healthcare Reforms Will Shift Value: Asia-Pacific had few successes in progressing healthcare in 2018, such as in India, Singapore, Philippines and Thailand, and 2019 will test how robust these initiatives are. It is estimated that by the end of 2019, up to 15% of global healthcare spending will be tied in some form with Value/outcome based care concepts. A new wave of reforms in health technology assessment in Japan and China will emphasize outcome-driven reimbursements and value-added services which will impact the profit margins of providers and healthcare companies [7].

Industry Challenges

  • Increasing demand from growing population: Almost more than half of world’s population live in Asia–Pacific region and with the rise in chronic or non-communicable (NCD’s) diseases has put tension on the stretched healthcare system of APAC region[8].
  • Disease burdens: World Economic Forum has estimated that by the end of 2030 several diseases as heart diseases, respiratory disease, cancer, diabetes, and mental ill-health will bring about the threat in the economy and in turn will hamper the APAC healthcare market. Inadequate financial resource, accommodating the various consumer segments, inconsistent reimbursement regimes, and intense competition, etc may play an adverse impact in the health care market [9].
  • Accessibility issue: Access to healthcare has improved in the Asia Pacific region over the past decade but women in low-income households in rural areas still have difficulty accessing care due to distance and financial reasons. In Cambodia, the Philippines, and the Solomon Islands, more than three women in four with the lowest household income reported difficulties in accessing healthcare due to financial reasons. It is quite difficult to address the accessibility issue for the Asia-Pacific region with ease to adapt to new technology and innovative solution for industry stakeholders [10].

Technology Trends

By 2019, it’s estimated that 65% of interactions with health care facilities will occur by mobile devices. Telemedicine is allowing the patients and health care providers both a new wave of freedom and accessibility. Hospitals and clinics are putting medical records of the patient in the cloud, with patients able to access test results online 24/7. Information and communication technology have important innovations to offer medical care. Mobile devices are being used to perform ECGs, DIY blood tests, or serve as a thermometer.

In India, the Swasthya Slate is a point-of-care device that allows healthcare workers to conduct 33 different tests on the spot and feed the data to more senior clinicians if appropriate. In 2017, China’s Tencent launched an AI-powered diagnostic medical imaging service, known as its AI Medical Innovation System (AIMIS). Currently, the technology has demonstrated accuracy rates of over 90% for preliminary diagnoses of oesophageal cancer, 95% for lung sarcoidosis and 97% for diabetic retinopathy [11].

Pricing Trends

The cost of employer-provided health care benefits in Asia-Pacific continues to climb with little relief. The health care benefit cost growth was about 7% in the last two years. It is estimated the health care benefit cost to increase up to 7.8% in 2019 [12].

Regulatory Trends

Several market-friendly policies have been introduced encouraging joint ventures between multinational companies and domestic companies. China government is investing significantly in the local healthcare infrastructure and is looking at reforming the market through a number of economic and demographic trends through its ‘Healthy China 2030’ initiative that promotes diet, exercise, and access to healthcare services. With the view of reducing the cost of Pharmaceuticals, the Japanese government is initiating the policies to expand the use of generic drugs.

Similarly, in Taiwan, long-term Care Services Act was passed that aim to regulate the provision of care professionals for physically challenged or mentally impaired, living alone and unable to care for themselves. [13]. In Philipines as well, 5 out of 10 use generic drugs. These may be a result of Laws such as the Cheaper Medicines Act of 2008 and the Universal Healthcare Act of 2013[14].

On September 23, 2018, Government of India launched Pradhan Mantri Jan Arogya Yojana, to provide health insurance worth US$ 7,124.54 to over 100 million families every year. However, countries like India face a need for e-commerce regulations with more than 259.14 million Internet and broadband subscribers [15].

Other Key Market Trends

Clinical trials, the basic foundation on which the success of a drug and its investment depends, are going to more remote locations including places in the Asia-Pacific since people are less affected to the exposure of drugs and medication from the Western world. This has necessitated the supply chain to reach further to ensure these trials are conducted in a compliant manner [16].

Market Size and Forecast

The Asia-Pacific Healthcare market is valued to be a $1,690 billion market in 2018. Alongside the developments in the home care segment, growth of smart hospitals and medical tourism have led to increase in the adoption of technology, innovative healthcare access programs, and delivery of care outside traditional hospital settings. The market is expected to keep growing at about 8.1% CAGR to reach US$ $1.82 billion in 2019 [17].


The Asia-Pacific healthcare market is segmented into market types and geography segments. Based on types, the market is segmented into Pharmaceuticals, Services, and Devices. Geographically, the Asia-Pacific healthcare market is segmented into China, India, ASEAN, and others. Emerging economies such as India, China, Singapore, and Malaysia are the potential geographies for market expansion due to improving healthcare standards. These economies have a large presence of domestic manufacturers of healthcare devices, which contribute to an increase in the market competition for multinational giants by adopting the strategy of price penetration.


  • Pharmaceuticals: The Asia-Pacific market will remain a key commercial opportunity for multinational drugmakers, presenting a diverse range of opportunities for innovative pharmaceutical firms. The APAC pharma market as a whole was worth $217 billion in 2018 and will reach $277 billion in 2021, growing at 8.4%, an accelerated pace compared to global pharma market’s 5.8% growth. The developing countries will see a higher rate of pharmaceutical sales growth, while the growth for developed countries is lower. Countries that will experience strong growth include Vietnam (16.4%), China (15.0%), Sri Lanka (12.4%), Myanmar (12.2%) and Bangladesh (11.5%) [18].
  • Healthcare Services: The Asia Pacific healthcare services market is expected to grow from over $1,371 billion in 2018 to over US$ 2 trillion in 2024 with a CAGR of 7%. Healthcare services include medical or surgical treatment, nursing, hospital service, dental service, optometric service, and other complementary health services. The size and growth of a market are related to many factors such as the size of the population, and especially of the older population, along with GDP per capita, but also regulatory systems and physician attitudes as well as disease incidence.
  • Medical Devices: The Asia-Pacific surgical and medical device market accounted for US$102 billion in 2018, and is expected to reach US$ 150 billion by 2024, growing at a CAGR of 6.5% over the forecast period of 2018-2024. The devices comprised of any reagent, calibrator, control material, kit, specimen receptacle, software, instrument, apparatus, equipment or system; used alone or in combination with other devices. The reagent segment accounted for the highest market share in 2018 and the software and services are expected to grow at the highest growth rate during the forecast period. The growth of the reagent market is attributed to the recent introduction of new novel reagents and wide availability of effective and cost-efficient reagents [19].


China accounted for the highest share of the market in 2018, followed by Japan. In addition, this region is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improvement in the healthcare infrastructure.

  • China: China's evolving demographic and epidemiological profiles along with improvements in infrastructure, insurance coverage and innovation have positive implications for multinational companies as well as the growth of e-commerce are the key drivers of growth within the country's healthcare industry. China’s healthcare market reached US$ 1 trillion in 2018 growing at CAGR of 11%. And by 2030, China’s healthcare market is targeted to reach US$ 2 trillion with every healthcare segments from pharmaceuticals to medical devices having more opportunities [20].
  • Japan: Japan’s population is aging faster than any other countries in the world. The people aged 65 or older represent 27.3% of the total population in 2017. The rapid aging spells troubles to the society but they can be turned into the opportunities. There is a growing need for products, technology, and services to keep the people live longer and stay healthy. In 2018, the market was US$ 624 billion and it is expected to grow at CAGR of 4.3% to US$ 827 billion in 2025 when the boomer generation reaches the age of 75 or older.
  • India: The healthcare industry in India accounted for US$108.7 billion in 2018, is expected to reach US$ 133.44 billion by 2022. The market is growing at CAGR of 5.8% due to rising incomes, greater health awareness, lifestyle diseases and increasing access to insurance. However, the impact of low levels of patent protection, price cuts, preference for generic medicines and low per capita healthcare spending will pose headwinds to innovative drugmaker opportunities [21].
  • ASEAN: The six major economies in ASEAN: Malaysia, Indonesia, Philippines, Vietnam, Thailand, and Singapore are facing an unprecedented rise in healthcare cost in the coming decade. With healthcare cost outpacing economic growth in nearly all ASEAN nations, it is expected that by 2025, total healthcare spending could accelerate up to US$ 740 billion from US$ 458 billion as of 2018. That means an increment at CAGR of 9.2% of US$ 320 billion will need to be immediately addressed in order to sustain the future of the healthcare industry [22].

Market Outlook

Asia Pacific’s overall healthcare spending is projected to surge to US$ 2,006 billion by 2021 from US$1690 billion in 2018, driven by higher healthcare costs, the rising incidence of chronic diseases, a burgeoning middle class and an overall shift in the age demographic. There are many variations in the per capita health care expenditure levels across the Asia Pacific, ranging from US$ 98 in Lao PDR to US$ 4,357 in Australia. The Asia Pacific is expected to becoming the fastest growing region for medical tourism in 2019 with growth rates exceeding 15%.

The EHR market is likely to witness the fastest growth in the Asia Pacific, with a forecasted CAGR of 5.7% in 2019, on the back of high EHR investments by 5.7% governments, non-profit organizations and the private sector. Likewise, hospitals continue to be the largest shareholder of APAC healthcare market. The global market for home healthcare is expected to grow at a CAGR of 7.8% to reach about US$ 355 Billion by 2020, with the APAC region expected to grow fastest at a CAGR of 9.7%. By 2019, Asia Pacific’s market for MedTech is expected to reach US$ 133 billion. Among healthcare market segment, China is the world’s second-largest market in medical devices and has been growing at a CAGR of 20% since 2009, according to the China Association for Medical Devices Industry (CAMDI) [23].


Technology Roadmap

In the Asia-Pacific, a growing number of biopharma companies are using AI to streamline the drug discovery process, but its applications can also be found in other areas such as diagnostics. In Singapore, the government has launched several key technology initiatives with direct impacts on the medical manufacturing sector. These include programmes on 3D printing, robotics, and industrial applications of the Internet of Things (IoT), to name a few.

The rising cost pressures and a decrease in numbers in new drug pipelines have resulted in pharmaceutical companies adopting digital solutions to gain efficiency in their research operations. Technologies such as big data, artificial intelligence (AI), Internet of Things (IoT) devices and mHealth platforms will drive 20% growth in the clinical trials market. Japanese surgeons and diabetologists are using big data to shape understanding of best practice [24].

Competitive Landscape

The Philippines make up about 45% out-of-pocket medical expenditure and prescription drug still continue to dominate the market [25]. And hospitals remain to be the largest shareholder of APAC healthcare market. Similarly, Singapore is the world's fourth-best healthcare infrastructure having less than 5% of GDP expenditure on healthcare and providing multiple layers of care to every resident [26].

Competitive Factors

The Key competitive factors in the market include digital health technologies, provision of skills and training, cost, etc. Also, personalized wellness, for instance, GE Healthcare's Sustainable Healthcare Solutions (SHS) are new factors that might create competition. They are developing clinically and economically relevant technologies, providing skills training for medical personnel and financing solutions for funding for industry players. Similarly, artificial intelligence is utilized by Siemens Healthineers to interpret radiology images (X-ray, MRI, and CT scans) [27].

Some Companies like Prudential, iCarbonX, and Healthi have introduced personalized wellness interventions. This has brought the Direct-to-consumer gene sequencing toward services and solutions. On the other hand, companies like Thorne Research and Imagine Labs will make available personalized over-the-counter nutritional supplements and skin care products, respectively, and that too on a subscription model. [28]

Likewise, policy innovation, support for new business models, development of patient-focused technology platforms, and the evolving role of consumers in healthcare, and the competition among companies for coming up with solutions to these issues are also likely to be seen as the key industry issues that deserve attention. Besides all of these, another competitive factor can be the price. For example, the Japanese government is introducing policies to expand the use of generic drugs with the intention of cost reduction of pharmaceuticals [29].

Key Market Players

  • Siemens Healthcare: Siemens Healthineers (formerly Siemens Healthcare, Siemens Medical Solutions, Siemens Medical Systems) is a medical technology company. The company was conceived in 1847 to a small family business in Berlin, co-founded by Werner von Siemens. The name Siemens Medical Solutions was adopted in 2001, and the change to Siemens Healthcare was made in 2008. It is connected to the larger corporation, Siemens AG. The company has posted good business figures in the first quarter following its successful initial public offering on 2018 [30][31].
  • Raffles Medical Group: Raffles Medical Group (RMG), is a private healthcare provider in Asia It operates medical facilities in thirteen cities in Singapore, Vietnam, China, Japan, and Cambodia. RMG has a network of clinics with family physicians, specialists and dental surgeons. RMG, a member of the Mayo Clinic Care Network owns Raffles Hospital, a tertiary care hospital in Singapore, which accommodates surgical centers, medical laboratories and 24 specialist centers in various areas like Obstetrics & Gynaecology, Cardiology, Oncology, and Orthopaedics. RMG has its own consumer healthcare division, It develops and distributes nutraceuticals, vitamins, supplements, and medical diagnostic equipment. The Group’s revenue for the second quarter of 2018 was steady at around USD 88.83million. Revenue for Healthcare Services division increased by 5.4%, offset by a decrease of 2.3% in the Hospital Services division [32][33].
  • Apollo Hospitals Enterprise Ltd: Apollo Hospitals Enterprise Limited was founded by Dr. Prathap C. Reddy in 1983 as the first corporate health care in India. It is an Indian hospital chain based in Chennai, India. America-based Joint Commission International as well as 13 NABH National Accreditation Board for Hospitals & Healthcare Providers hospitals have accredited several of the group's hospitals being among the first in India to receive such international healthcare accreditation. After starting a pilot project in 2000 in Prathap Reddy's home village, the group has developed services in telemedicine[34].
  • Medtronic: Medtronic plc is the world's largest medical device company and it generates the majority of its sales and profits from the U.S. healthcare system. It is however headquartered on the island of Ireland for tax purposes and has an operational and executive headquarters in Fridley, Minnesota in the U.S. In 2015, Medtronic acquired Irish–tax registered Covidien (a U.S. tax inversion to Ireland from 2007), in the largest U.S. corporate tax inversion in history, which enabled to move company’s legal registration from the U.S. to Ireland. Medtronic operates in 140 countries and employs over 86,000 people. The company had a revenue of US$ 29.71 billion in the year 2017[35].
  • GE Healthcare: GE Healthcare is an American multinational conglomerate incorporated in New York. GE Healthcare operates as a subsidiary of General Electric and is headquartered in Chicago, Illinois. As of 2017, the company is a manufacturer and distributor of medical diagnostic equipment including CT image machines, offers dyes that are used in magnetic-resonance-imaging procedures, diagnostic imaging agents and radiopharmaceuticals for imaging modalities. Further, it develops Health technology for medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery, and biopharmaceutical manufacturing. The company operates in more than 100 countries and was incorporated in 1994. The company’s revenue increased by 5% to $19.1 billion in 2017, compared with $18.3 billion in 2016[36][37].
  • B Braun Melsungen AG: B. Braun Melsungen AG is a German medical and pharmaceutical device company headquartered in the small town of Melsungen, in central Germany. The company was founded in 1839 and has offices and facilities in more than 50 countries. The company had a revenue of USD 7786.55 million in 2017[38].
  • Orion Health: Orion Health is a New Zealand-based global software company which delivers and sells healthcare software. Orion Health provides the software for healthcare providers (public and private healthcare organizations) from integration through to population health management and precision medicine. It has more than 450 customers in 25 countries and about 1200 staff globally. The company’s revenue is the ranked 2nd among its top 10 competitors[39][40]
  • Sanofi: It is a global biopharmaceutical company focused on human health. It is a French multinational pharmaceutical company headquartered in Paris, France, as of 2013 the world's fifth-largest by prescription sales. The company was formed as Sanofi-Aventis in 2004 by the merger Sanofi-Synthélabo, which were each the product of several previous mergers. The company covers seven major therapeutic areas: cardiovascular, central nervous system, diabetes, internal medicine, oncology, thrombosis, and vaccines (it is the world's largest producer of the latter through its subsidiary Sanofi Pasteur)[41].
  • 3M Company: 3M Company (3M), incorporated on June 25, 1929, is a technology company. The Company is a manufacturer and marketer of a range of products and services. It makes 55000 products is unique just for that reason. It was formerly also known as (1902–2002) Minnesota Mining and Manufacturing Company. It operates in the fields of industry, worker safety, health care, and consumer goods[42].
  • Canon Medical Systems Corporation: Canon Medical Systems Corporation is a medical equipment company based in Ōtawara, Tochigi, Japan. The company, formerly known as Toshiba Medical, was the first in Japan to begin research on X-ray tubes in 1914 and has continued to be a national leader in diagnostic imaging equipment, being the first to introduce many products, including MRI and helical CT. The company was acquired by Canon Inc. in 2016. It offers a full range of diagnostic medical imaging solutions including CT, MR, X-Ray, Ultrasound, and Healthcare Informatics across the globe [43].

Strategic Conclusion

Concisely, in 2019, Asia-Pacific is anticipated to transform the industry business models, with technology advancement and data transparency being the key enablers. In Asia-Pacific, the role of healthcare consumers is changing dramatically. Digital technology is enabling access to information and care. This is changing every business model in the region. The full transformative potential of the region’s healthcare outlook won’t be realized without an ability to supply medicine, right facilities and transparently tracking of the various products. The solution lies in making the healthcare supply chain which is more smart, connected and cost-efficient.





  • AI: Artificial Intelligence
  • APAC: Asia Pacific
  • CAGR: Compounded Annual Growth Rate
  • MedTech: Medical Technology
  • NABH: National Accreditation Board for Hospitals & Healthcare Providers
  • US$: United States Dollar

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