Major driving factors of Asia Pacific healthcare market are ease of availability of medical devices through rent/lease agreement, transforming healthcare system such as hospitals/clinics integrating IT with operations, consolidation of labs and hospitals, spike in private insurance coverage and generous free coverage on curative and rehabilitation services.
Total global healthcare expenditure was USD 540 billion in 2016, which is anticipated to grow at a CAGR of 10% in developing economies. Healthcare expenditure for Asia Pacific nations valued USD 230 billion in 2016.
Philippines hold a dominant share pharmaceutical market of ASEAN region along with Indonesia and Thailand. Global pharmaceutical Industry worth USD 4.1 billion in 2016 and forecast to grow at a CAGR of 6% in the next 5 years.
Revised tax guidance on Advance Pricing Agreements (APAs) in Australia
APA’s are complex and non-negotiating though, but are likely to appeal to pharma companies for certainty on transfer pricing arrangement. The APA application procedure involves ATO reviewing and evaluating the application, and then negotiations between the ATO and the taxpayer to negotiate the APA.
Taiwan with “World’s Best Medical System”
Although Taiwan is best known for its cheap electronics but it has one of the best healthcare reforms. Taiwan’s reformation efforts in healthcare industry enables Taiwan citizens have health insurance “Smart Cards” with memory chips, giving instant access to medical history, what medications a person takes and the results of prior hospitalizations with all the hospital systems have medical records linked to the main system.
“APAC Healthcare Market Outlook 2024” contains detailed overview of the global APAC healthcare market in terms of market segmentation by type, sector, application, end user and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes competitive outlook of some of the major players of the APAC healthcare market which includes profiling of companies like Siemens, Roche, Alere, Medtronics, Abbott, GE Healthcare, B Braun, Apollo Group, Fortis Group, 3M, Ziosoft, Allscripts, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the APAC healthcare market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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