ASEAN Medical Diagnostics Market (Singapore, Malaysia, Indonesia, Thailand & Vietnam): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
The ASEAN medical diagnostics market is anticipated to reach US$14.53 billion in 2026, witnessing growth at a CAGR of 12.60%, over the period 2022-2026. The factors such as increasing geriatric population, escalating stress levels, hike in healthcare expenditure and expanding urbanization and surging prevalence of western type diseases in South East Asian countries would drive the growth of the market. However, the market growth would be challenged by dearth of skilled workforce, high out-of-pocket expenditure across target countries and rising cost of healthcare. A few notable trends include upsurge in medical tourism, emergence of point-of-care (POC) and rapid testing, growing awareness of personalized medicine & new specialized tests and escalating shift towards preventive healthcare.
The Association of Southeast Asian Nations (ASEAN) is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration between its members and countries in the Asia-Pacific. On the basis of solution, the ASEAN medical diagnostics market has been segmented into services and products. Services segment dominated the market, owing to the continuous increase in the number of diagnosis tests around world.
The fastest growing country market was Singapore due to progressively aging population, complementary government policies, increased the susceptibility of the population to various chronic and infectious diseases, increasing patient awareness about personalized medicine and shifting preference towards point-of-care (POC) testing.
Scope of the report:
• The report provides a comprehensive analysis of the ASEAN medical diagnostics market segmented on the basis of type and region.
• The major country markets (Singapore, Malaysia, Indonesia, Thailand & Vietnam) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (IHH Healthcare Berhad, Bangkok Dusit Medical Services PCL (BDMS), Raffles Medical Group Ltd., PT Prodia Widyahusada Tbk, PT Diagnos Laboratorium Utama Tbk and Pathology Asia Holdings Pte. Ltd.) are also presented in detail.
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