01 December 2022 | Thursday | News
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The Covid-19 pandemic has highlighted the asymmetric development of the healthcare industry, which has historically favoured developed markets and its priorities – from how drugs are developed, to the mechanism of diagnosis and the delivery of treatment. Today, emerging markets comprise 60% of the global population but contribute only 20% of global healthcare spending, highlighting the disparity in spending power and access to medical treatment.
Fu Wei, Chief Executive Officer of CBC Group, said, "Access to affordable and quality healthcare should be a given regardless of socio-economic status, demographics, or geographic boundaries. CBC Group is committed to contributing to the development of innovative solutions which address the needs of the region, and we look forward to collaborating with like-minded partners on these opportunities."
The report suggests three key challenges facing patients and the sector across the region:
On the flipside, there have been recent developments which are meaningfully reducing obstacles in the delivery of quality and affordable healthcare. The increase in adoption of universal healthcare schemes and cost control measures, for example, are some of the initiatives that raise healthcare quality and lower costs.
There has also been an emergence of high-quality innovative products that are domestically successful, with the potential to address significant unmet need at a more cost-effective price point for patients across the region's emerging markets. In certain cases, these products can be three to 10 times cheaper, making them key to expanding accessibility and improving healthcare delivery in the region.
A continued collaborative approach bringing together public and private stakeholders is needed to fill gaps in healthcare systems and spur public and private innovation to address unmet medical needs. Continued investment in the sector will also be critical to the development of better healthcare delivery systems to create more cost-effective options and drive better access to healthcare.
Fu Wei concluded, "At CBC Group, we will continue to drive synergies across our healthcare ecosystem to benefit more patients in Asia and deliver on our mission to enable better healthcare for all."
"Navigating a perfect storm – driving access to healthcare in emerging markets," is available electronically on CBC Group's website: Download the report