Rising medical inflation in Asia Pacific
It is estimated that by 2030, the middle class in Asia will reach 3.5 billion.1 The growth in urbanization and middle-class affluence has been characterized 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 10% this year.2 You can’t afford to ignore the need to manage medical costs.
Rising medical inflation in Asia Pacific
Sources
1https://www.weforum.org/agenda/2020/07/the-rise-of-the-asian-middle-class
2Willis Towers Watson’s 2021 Global Medical Trends Survey Report
No part of this article may be reproduced in any written, electronic, recording, or printed form without written permission of Chubb.
Disclaimer - The content of the above article is not intended to constitute professional advice. Although all content is believed to be accurate, Chubb Insurance Singapore Limited (Chubb) makes no warranty or guarantee about the accuracy, completeness, or adequacy of the content of this article. Users relying on any content do so at their own risk.
Have a question or need more information?
Leave your contact details and our representatives will get in touch with you.