Prevention is the Best Medicine: Rethinking Healthcare in Asia
Healthcare costs in Asia are rising at an unprecedented pace. This is a challenge. Even unlocking all the available efficiency gains in healthcare treatment may not be sufficient for limited resources to meet the demands of an ageing population, with greater expectations on healthcare quality and a rise in non-communicable diseases. Spending on healthcare for the elderly is expected to rise by a multiple of 9.3 in Vietnam, and by 4.6 in China and Singapore between 2015 to 2030. Many governments will struggle to fund these growing healthcare needs. Healthcare expenditure (excluding indirect and capital costs) already outstripped GDP growth between 2000 to 2015 for 13 out of 14 Asia Pacific economies. How can Asian countries overcome the healthcare challenge? AlphaBeta research shows that a new approach is needed – shifting from treatment to prevention. This report suggests that healthier lifestyles, nutrition, and earlier detection of diseases could create large new business opportunities of at least US$425 billion.
The report has received significant coverage in the media, including:
- Sustainable development innovations showcased at Ecosperity conference, The Strait Times, 5 June 2018