Asian Healthcare


Invest in companies benefiting from increased healthcare spending across emerging and developed economies in Asia.

60% of the people in the world live in Asia.

Total healthcare expenditure in Singapore is estimated to triple by 2030.

It costs on average $6,200 for a knee replacement in India as opposed to $50,000 in the U.S

Healthcare spend in China is estimated to triple by 2018.

Most of the people in the world live in Asia. China, India and Indonesia alone account for ~2.75 billion people currently. According to Frost and Sullivan estimates, total healthcare spend in Asia-Pacific is likely to grow from US$1.34 trillion in 2012 to US$2.2 trillion by 2018, implying a compounded annual growth rate (CAGR) of 10.5%. This implies strong growth in healthcare spending per capita – 4.8% CAGR across the region.

Specifically, Frost and Sullivan estimates healthcare spending per capita more than doubling in India ($148 in 2018, up from $63 in 2012) and China ($730 in 2018, up from $297 in 2012). Japan too is headed toward an increased healthcare spend per capita driven by an ageing population ($4,269 per capita in 2018, up from $3,494 in 2012).

Singapore is a key medical tourism hub in Asia, reputed for its quality of medical care. In 2011, it received around 461K medical travellers, according to Frost & Sullivan. Based on Singapore Tourism Board’s expectations, number of foreign medical travellers is projected to grow at 13% CAGR between 2011-16E while revenues are projected to double from S$1 billion to S$2 billion by 2016.

Demand for Healthcare and related products will likely continue to drive growth in medical tourism as well as high-end care at private hospitals in Singapore/South-east Asia. In India, pharmaceutical companies are well positioned to benefit from increased demand for generic drugs.

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