Healthcare Transformations In Asia Pacific In 2020
Photo by Ani Kolleshi on Unsplash
Ram Tumuluri “About half of the world’s population lives in the Asia Pacific region and there is a correspondingly high demand for healthcare. Asia’s medical technology market was forecast to grow to around US $133 Billion by 2020 before the pandemic. There have been talks on innovation and development in the healthcare industry, ranging from digitizing patient records to improving IT equipment used by healthcare professionals. We can expect notable changes in the healthcare industry in 2020, including innovative ventures, investment growth, M&A, cyber security and IPO. In this week’s article, our team takes a look at some of the most notable healthcare transformations happening in Asia Pacific so far in 2020.”
Healthcare Transformations In Asia Pacific
In this article:
Digital healthcare startups to grow in 2020
Driving population health
M&A strategies for health tech firms in 2020
Digital healthcare startups to grow in 2020
E-commerce firms could undoubtedly gain confidence in the race for innovation in health tech. They own massive customer data and buying behaviour, which is valuable for their next project in building customer relations.
Several digital therapy startups may feel confident about their financial capabilities, while others may enter a joint venture with tech giants. ‘DoctorAnywhere’ prepares itself to expand to Vietnam as a successful startup in Singapore. To set up the first virtual clinics in Vietnam it integrated with ‘ViettelPay,’ a large Vietnamese payment platform.
Furthermore, China’s Ping An Good Doctors have collaborated with tech unicorn Grab to deliver their Singapore online hospital. As a result, a higher barrier has been built to deter new entrants in the health tech sector.
Driving population health
Asia will further leverage data and analytics to improve public health by starting to take population data analysis down to the individual level with personalised results and outcomes. Data sharing will be enhanced by collaboration between the public and private sectors. Singapore is likely to lead such innovations as it pursues its long-term healthcare promotion strategy.
M&A strategies for health tech firms in 2020
The Asia Pacific M&A activities are projected to meet the trends of global increase in 2020. Tele – health startups tend to opt for M&A and joint ventures in terms of optimizing financial and operational performance rather than IPOs. Asia will become the largest regional med-tech growth location after the US, predictably growing by 35 per cent in 2023. Additionally, M&A could increase across the continent, as Asian buyers and firms in the US and EU have made 61 deals.
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