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.
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.
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.
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