The Asia-Pacific healthcare market has recorded a solid growth over the past decade. According to available statistics, the healthcare markets are projected to grow from US$ 246 billion in 2009 to US$ 348 billion in 2012, accounting for close to 27% of the global market.

It is envisaged that by 2015, Asia-Pacific’s healthcare revenues will possibly represent 40% of the global market.  Key areas worth taking note include:

• Medical devices - where revenue is estimated to increase from US$ 46.5 billion in 2009 to US$ 62.3 billion in 2012. This represents about 25% of the global medical devices revenue.  The market drivers for this growth are partly due to the aging population and the convergence of devices and pharma products.

• Lab automation, home care monitoring and emphasis on early detection are also driving clinical diagnostic demands.  In terms of revenue, the increase is projected from US$ 6.9 billion in 2009 to US$ 8.5 billion in 2012.

• The growing demand for integrated imaging with information systems, increasing corporate wellness programs and rise in turnkey projects are also contributing factors to the rise in the imaging market revenues up from US$ 6 billion in 2009 to US$ 8.6 billion in 2012, accounting for about 36% of the global imaging market revenues.

• Increasing opportunities are also apparent in value-based imaging, oncology and healthcare services. Areas that will trigger more innovations include molecular diagnostics and silver industry equipment. Notably, vaccines / biologics will record tremendous growth given the current state of health not just in the Asia-Pacific region but globally as well.

• Medical tourism is emerging as one of the fastest growing markets in Asia, and is expected to reach US$ 5.4 billion in income by 2012.

• Transitioning from a slowing down of GDP in mature markets, there is now a shift of focus from export led development to consumption led growth. There is also an increased in government attention to primary and community based healthcare. 

The rise in healthcare expenditure by both private and government sectors are also noteworthy. Available reports indicate that Asia-Pacific’s total healthcare expenditure is forecasted to increase from US$ 946.3 billion in 2009 to US$ 1,152 billion in 2012. Private health care expenditure will increase from US$ 372 billion to US$ 472.6 billion and government healthcare expenditure from US$ 574.3 billion to US4 679.4 billion over the same period.

All in all, the promising Asia-Pacific healthcare sector brings opportunities. The growing demand for more sophisticated healthcare devices and services presents tremendous opportunities for companies to introduce their latest innovations as well as to seek partnership with Asian counterparts. Hospital development, better operation and performance management in both in- and out-patient care, upgrading and replacement of medical equipment, healthcare education and training, and catering to the silver industry are just some of the areas that global suppliers can tap into. In the silver industry alone, the population of above 65 years of age in the Asia-Pacific region will increase from 233.2 million in 2009 to 254 million in 2012.

About MEDICAL FAIR ASIA 2010 – the region’s largest medical and most important medical and health care event!

MEDICAL FAIR ASIA is the largest and most authoritative platform for the medical and healthcare industry in Southeast Asia and has the staunch support from national pavilions from all over the world. Held for the 8th time in Singapore, MEDICAL FAIR ASIA is organized by Messe Düsseldorf Asia, sponsored by Singapore’s Ministry of Health, endorsed by the Singapore Exhibition and Convention Bureau as an Approved International Fair and supported by Messe Düsseldorf GmbH, organizer of MEDICA and REHACARE INTERNATIONAL, the world’s largest trade fair for the medical and rehabilitative care industries. The exhibition is also supported by numerous associations such as the Indonesian Hospital Association (PERSI), Hospital, Medical, Laboratory Equipment & Supplies Importers Association of the Philippines (HOMLESIAP) and the Federation of Medical Societies of Hong Kong.

MEDICAL FAIR ASIA 2010 will showcase the latest cutting edge medical and health care equipment, solutions and services from some 400 exhibiting companies from over 30 countries. More than 10 national pavilions and groups are also expected to showcase and introduce a wide array of medical and health care innovations to an expected audience of 8,000 trade visitors from the region and beyond. Visitors can now register their visit.