Malaysia. Malaysia has only 30 million people, or 12% the population of Indonesia, yet Malaysians spend more than $360 annually per person on healthcare, more than twice their per-capita spending a decade ago. The country’s total healthcare expenditure reached more than $12 billion in 2013 and is forecast to climb to almost $17 billion by 2015. Although Malaysia has significantly fewer people than Thailand and Indonesia, its medical device market, worth at $1 billion, is equal in value to the markets in these more populous countries. The device market in Malaysia is expected to nearly triple in value, to $2.7 billion, by 2018.
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Indonesia. Indonesia is the world’s fourth largest country by population with not less than 248 million people as of 2013. It is estimated that the country’s per-capita healthcare spending will reach almost $150 by 2015, up from $36 in 2005. The Indonesian medical device market is worth almost $1 billion and growing at 15% annually. Almost 95% of the market’s total value comes from imports, with 90% of all 2013 device registrations belonging to foreign manufacturers.
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Thailand. With a population of 67 million Thailand shares borders with Malaysia, Burma, Laos, and Cambodia. Per-capita healthcare spending in Thailand increased from $73 in 2002 to approximately $220 in 2013. The government sponsored healthcare scheme, although limited in coverage, has expanded to include 99% of Thailand’s population, up from 75% coverage in 2002. The country also has more than 850 public hospitals and almost 600 private hospitals.
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The ASEAN’s large population, rising middle class, and increasing healthcare spending, the 10 countries that make up the Association of Southeast Asian Nations are gaining attention from medical device makers, as posted in the Medical Device Business by Ames Gross, Pacific Bridge Medical on January 23, 2014
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Indonesia is poised to overtake Thailand as Southeast Asia’s biggest car market for the first time since 2011 as the region’s most-populous nation delivers faster economic growth and greater political stability.
Continue reading Indonesia Seen Beating Thailand in Auto Sales