The Asia-Pacific long-term care market is estimated to witness a strong CAGR of 7.8% during the forecast period (2020-2026). The growth can be attributed to the rising geriatric population, favorable initiatives for the adoption of remote health, low physician-patient ratio, and high internet penetration. Additionally, the increased spending on healthcare IT, rising prevalence of chronic diseases, shift towards digital/mHealth, and increasing funding for long-term care are the additional factors that are driving the long-term care market in the Asia-Pacific. A shortage of healthcare professionals, especially in rural areas of many countries, is a key opportunity for the growth of long-term care market in this region. The number of physicians per 1,000 population varies widely across APAC countries. According to the WHO (World Health Organization), Southeast Asia has fewer physicians on average with around 0.6 for every 1,000 people, compared to developed economies such as Germany, with an average of 3.7 physicians per 1,000 population.
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Further, the Asia-Pacific is witnessing a continuous rise in the prevalence of various chronic conditions and a shortage of healthcare professionals. Long-term care is expected to deliver quality care to patients in limited-resource areas. Further, owing to advancements in mobile technology and improvement in telecommunication networks, healthcare providers can use long-term care by integrating existing healthcare infrastructure with IT.
In 2019, the Asia-Pacific was estimated to have around 549 million people aged 60 years or over, which represents around 57% of the global elderly population. The percentage is projected to increase to 61% by 2050. Such a rapidly growing aging population is at a higher risk of developing various chronic diseases; therefore, it needs new ways of treatments to increase access to care and reduce the cost of treatment with improved patient outcomes. Thus, due to such factors, the market for long-term care in Asia-Pacific is set to grow exponentially.
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Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- by Service Type and Point of Care
· Countries Covered- China, India, Japan, South Korea, and Rest of Asia-Pacifi
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominates the market in base year?
Which segment and region will project fastest growth in the market?
How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
Asia-Pacific Long-Term Care Market Report Segment
By Type
Medical Services
· In-House Therapy
· Skilled Nursing
· Others
Assisted Living Services
By Point of Care
· Homecare
· Hospitals (Rehabilitation Center)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
