Frost & Sullivan: Improving Economies in Indonesia and Vietnam Present Strong Growth Potential in Healthcare
KUALA LUMPUR, Malaysia, Aug. 2, 2012 /PRNewswire/ -- 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 (http://www.pharma.frost.com), South East Asian Emerging Markets—Indonesia and Vietnam Healthcare Outlook 2012, 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. This study presents key findings, market revenue forecasts, and the mega trends influencing healthcare along with an insightful review of growth opportunities in each healthcare segment.
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," said 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