Growth Drivers The following factors contribute to the increasing demand for healthcare worldwide. Government Policy and governmental initiatives greatly affect the healthcare industry. In particular, governments around the world have been working to make healthcare services more accessible and affordable to the masses, be it via subsidies or infrastructure development. The effective public-private partnerships witnessed during the COVID-19 pandemic – such as the facilitation of vaccinations for country populations – also highlighted the importance of collaboration for pandemic preparedness. Similar partnerships down the road could make general healthcare more convenient for communities across our markets. Technology Medical technology is constantly improving, providing better clinical outcomes and faster recovery for patients. For example, Prince Court Medical Centre is the first medical facility in Malaysia to adopt the cutting edge O-Arm imaging and navigation system which enables surgeons to visualise the spine from multiple perspectives during surgery. From wearable devices to telemedicine, med-tech adoption continues to grow and change the way patient care is being delivered. Combining physical clinical consultations with remote health tracking will continue to proliferate as the model brings efficiency and convenience to patients and healthcare institutions alike. In addition, data analytics has enhanced decision making by healthcare teams and also helped personalise patient care, ultimately improving patient outcomes and the healthcare experience. Demographics It is projected that by 2050, one in four people in the Asia-Pacific region will be 60 years and older. The healthcare services sector must swiftly increase operational capacities and set up support infrastructure – from community care and diagnostics to telemedicine – to meet the needs of this group. Not only must healthcare be made accessible to wide swathes of populations, but more medical professionals, allied health professionals and facilities must be tailored for geriatric care. Aside, there is a growing affluent middle class that displays a preference for higher-quality private healthcare. This group has a strong awareness of preventive care and is willing to invest more resources to attain better health outcomes. By 2050, one in four people in the Asia-Pacific region will be 60 years and older Annual Report 2023 45
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