Market Research Report
Project Insight: Healthcare Construction Projects, Asia Pacific
|Published by||GlobalData||Product code||731814|
|Published||Content info||36 Pages
Delivery time: 1-2 business days
|Project Insight: Healthcare Construction Projects, Asia Pacific|
|Published: September 28, 2018||Content info: 36 Pages||
Investment in new healthcare facilities across the Asia-Pacific region is rising at a fast pace, supported by the region's economic expansion and population growth. China, being the most populous country and the economic power for the region, has the highest value healthcare construction project pipeline, totaling US$48.6 billion. However, China is at the lower end of the measure of healthcare expenditure relative to GDP, at around 5.5% of GDP compared to the US with close to 17% and Australia's 9.4%. It is a similar situation in India, which has a project pipeline valued at US$15.9 billion, but spends less than 4% of its GDP on healthcare.
The need for an increase in investment in new healthcare facilities in the region is paramount, given the expected increase in old-age populations across the region. According to the OECD the share of the population aged 65 years and over in Asian countries is expected to increase from 8.1% in 2015 to reach 20.5% in 2050. Life expectancy at birth across 22 Asian countries reached 73.7 years in 2015, a larger gain than in OECD countries.
The overall projects pipeline is relatively well advanced, with projects in the late stages of pre-execution and execution totaling US$66.8 billion, equivalent to 57.4% of the total. Projects in the early stages of pre-planning and planning account for the remaining 42.6%.
GlobalData's Construction Intelligence Center is currently tracking healthcare construction projects in Asia-Pacific with a total value of US$116.3 billion, which includes projects from the announced to execution stages.