Project Insight: Healthcare Construction Projects, Asia Pacific

Project Insight: Healthcare Construction Projects, Asia Pacific

  • September 2018 •
  • 36 pages •
  • Report ID: 5601916 •
  • Format: PDF
Project Insight: Healthcare Construction Projects, Asia Pacific

Summary
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.

Key Highlights
- Based on the assumption that all projects complete on time, healthcare facilities with close to 94,000 beds will be completed in 2020, up from an average of around 53,000 in both 2018 and 2019. This is based on available data on capacity for 65% of all projects currently being tracked.
- The public sector is directly funding nearly half of all projects by value (48%), while the private sector is directly funding 40%. The remaining 12% of project by value are being funded by various joint public and private undertakings. Of the major markets in the region, the Philippines has the highest proportion of privately financed projects, at 89% of the total, and Japan has the highest proportion of publicly financed projects (100%), followed by Singapore with 77%.
- China accounts for the highest value of the project pipeline, with a value of US$48.6 billion, followed by Australia with projects valued at US$20.2 billion. India follows with projects valued at US$15.9 billion. and US$8.7 billion respectively. Japan has a high proportion of projects at the execution stage - 97% - with little in the planning pipeline.

Scope
- The report provides detailed projects analysis, information and insights based on all major healthcare buildings projects in Asia-Pacific.
- The report provides detailed metrics on health construction projects (as tracked by GlobalData) split by country, type and value. Detailed metrics are also provided for the top 10 countries.

Reasons to buy
- Gain insight into the development of the healthcare buildings construction sector in Asia-Pacific.
- Assess all major projects by value, start date, scope and stage of development in the Asia-Pacific region and top 10 countries to support business development activities.
- Plan campaigns by country based on specific project opportunities and align resources to the most attractive markets.
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