Rising medical costs in Asia Pacific
It is estimated that by 2030, the middle class in Asia will reach 3.5 billion.1 The growth in urbanisation and middle class affluence has been characterised by the adoption of sedentary lifestyles which in turn has created an epidemic of chronic diseases including cardiovascular, cerebrovascular, diabetes and cancer-related illnesses. Across Asia Pacific, medical costs have been increasing and is expected to exceed 8% this year.2 You can’t afford to ignore the need to manage medical costs.
1 World Economic Forum - This chart shows the rise of the Asian Middle Class (https://www.weforum.org/agenda/2020/07/the-rise-of-the-asian-middle-class/#:~:text=In%202020%2C%20an%20estimated%202,and%20689%20million%20in%202030.)
2 Willis Towers Watson’s 2021 Global Medical Trends Survey Report.
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Rising medical inflation in Asia Pacific
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