Outpatient Care - ASEAN

  • ASEAN
  • The Outpatient Care market in ASEAN is forecasted to achieve a revenue of US$17.89bn by 2024.
  • Furthermore, it is expected to display a compound annual growth rate (CAGR 2024-2029) of 9.21%, leading to a market volume of US$27.79bn by 2029.
  • When compared to other countries worldwide, United States will generate the highest revenue, amounting to US$744.80bn in 2024.
  • In Singapore, the rise of telemedicine services has revolutionized the outpatient care market, allowing patients to access healthcare remotely.

Key regions: United Kingdom, Japan, China, Brazil, Canada

 
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Analyst Opinion

The demand for outpatient care services has been on the rise in the ASEAN region in recent years, driven by various factors such as changing demographics, increasing healthcare awareness, and rising healthcare costs.

Customer preferences:
Customers in the ASEAN region are increasingly looking for convenient and affordable healthcare services, which has led to a growing demand for outpatient care. Patients prefer outpatient care as it allows them to receive medical treatment without having to stay in a hospital, which can be expensive and time-consuming. Outpatient care is also more flexible, allowing patients to schedule appointments at their convenience.

Trends in the market:
Indonesia and the Philippines are the two largest markets for outpatient care in the ASEAN region. In Indonesia, the demand for outpatient care is driven by the country's large population and rising middle class, which has led to an increase in healthcare spending. The Philippines, on the other hand, has a large number of medical tourists who prefer outpatient care due to its affordability and accessibility.In Thailand, the government has been promoting medical tourism, which has led to a growth in the outpatient care market. The country has also been investing in healthcare infrastructure, which has improved the quality of healthcare services.In Singapore, the demand for outpatient care is being driven by the country's aging population and the increasing prevalence of chronic diseases. The government has been promoting outpatient care as a way to reduce healthcare costs and improve patient outcomes.

Local special circumstances:
In some countries in the ASEAN region, there are challenges to the growth of the outpatient care market. For example, in Vietnam, the quality of healthcare services is still relatively low, which has led to a lack of trust in the healthcare system. In addition, the country's healthcare infrastructure is underdeveloped, which has made it difficult to provide outpatient care services in some areas.

Underlying macroeconomic factors:
The growth of the outpatient care market in the ASEAN region is being driven by various macroeconomic factors, such as rising healthcare spending, increasing healthcare awareness, and changing demographics. The region's growing middle class is also contributing to the growth of the market, as more people are able to afford healthcare services. In addition, the ASEAN region is becoming increasingly integrated, which has led to greater cross-border healthcare cooperation and investment.Overall, the outpatient care market in the ASEAN region is expected to continue growing in the coming years, driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. As the region's healthcare infrastructure continues to develop, the market is likely to become more competitive, with new players entering the market and existing players expanding their services.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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