With a population of approximately 4.5 billion people, Asia is considered to have the fastest growing population compared to other continents. By the year 2025, it is estimated that about 1 billion people in Asia will be over the age of 50. Amongst other predictions, it is predicted that by the year 2020, Asia will become the second-largest medical market behind USA and followed by Europe. Due to the ever-increasing population of Asia, especially China and India, the need for medical solutions has increased significantly.

Asia now contributes about 28% of the revenue of the global healthcare industry. The current growth rate of the healthcare market in Asia is about 20 percent, which is higher than any other continent. This positive growth in the Asian market is due to the increased usage of technology in addition to growing numbers of healthcare access programs. Previously there was a lack of access and affordability for healthcare programs in the continent. The overall spending on healthcare in Asia is predicted to increase about $0.58 trillion.

The growth of the healthcare industry can also be contributed to the widespread use of digital technology. This enables consumers to access any information that they require. They can get information regarding doctors, clinics, hospitals, medicines, etc. Although this is nothing new for those living in developed countries, it is a pretty big development for those in Asia. Platforms focused on bridging gaps in the healthcare sector will experience the most success due to advancements in digital technologies. Pharmaceutical companies have also incorporated digital technologies due to the increasing cost pressures. The adoption of digital solutions has been of great help to their research operations. The Healthcare device market in Asia (excluding other products) is amplifying at a very fast pace. A $13 billion rise has been noted in the Asian healthcare device market.

China has been a major contributor to the Asian healthcare industry. This is mainly due to its huge population. It has bought multiple tech companies that produce medical equipment. It aims to produce the equipment locally rather than importing it. The growth of the healthcare industry can also be attributed to the growing economies of ASAC. The Chinese and Singaporean government are also supporting local healthcare companies. The demographics of ASAC countries are projected to have a huge impact on the demand for quality healthcare services.