By 2025, regional dynamics will end up altering global healthcare in a variety of ways. Take North America, which is currently the biggest healthcare market in the world, and Europe, which is the second biggest healthcare market. These two markets are expected to change, with one market in another part of the world growing stronger. Keep reading to find out more.
A Growing Asian Healthcare Market
In particular, Asia, not including Japan, has a healthcare market that’s expected to continue expanding at around 11.7%. As a result, it will end up overtaking Europe over time. This opens up even more opportunities for individuals who are interested in studying everything from healthcare administration and healthcare leadership, to healthcare management and everything in between.
Contrast that with Japan, which has the fourth biggest healthcare market. It will be eventually be overtaken by Latin America, which is expected to keep expanding at around 10.4%.
When 2025 rolls around, the regional shares throughout the healthcare market, from the smallest to the biggest, will shift, and the order will end up being: North America followed by Asia and Europe. Those will be followed by Latin America and Japan as the biggest markets.
What’s Driving Growth in the Asian Healthcare Market?
The incredible growth that has been occurring in the healthcare market throughout Asia is actually driven by China and India. There are also funding schemes from governments, and those are expected to add the Philippines, Vietnam, and Indonesia to the list of countries whose healthcare industry is rapidly expanding.
What about Europe?
Europe will fall from its current ranking in the healthcare market. The countries that have been the most adversely affected by a Euro in decline are Spain, Portugal, and Greece. In the meantime, the United Kingdom is trying to deal with the pound’s decline and all of the problems that have arisen since Brexit. And because of political tensions, Russia isn’t doing as well, either.
What Does This Mean for Investors?
As the global healthcare industry begins to shift, those who are stakeholders in this market will have to alter the focus of their investments. Shifting your spotlight to Asia will be necessary, as it really does have the potential to eventually be the biggest healthcare market on the planet, especially if its existing growth rate continues.
Another smart investment opportunity is in the Latin American market, where experts are predicting some important opportunities that are the result of increased demand and a rising population, along with a growing middle class that has more disposable income than before. In that part of the world, growth has also been supported by a boost in private healthcare options, as well as a bigger population that is working and able to support seniors.
Ultimately, it will be wise healthcare investors who will help the Latin American and Asian markets continue expanding. Although there will be a few difficulties along the way, healthcare players can invest in these parts of the world, as well as locate partners and design strategies for each nation, to inspire more growth.