Project Management Institute

Senior Momentum

Asia's Aging Population Has a Need for Projects in the Healthcare Sector

As Asia's population grows older, there's a need for new projects in the healthcare sector.

GOING GRAY

Asia's population is aging faster than anywhere else in the world.

img
img 60% of the world's older-than-65 population will live in Asia by 2030.

BOOMING INVESTMENT

Healthcare projects are being launched all over the continent to cater to the demographic shift.

US$20 trillion Amount needed to fund elderly healthcare in Asia Pacific by 2030—a nearly fivefold increase from 2015

Healthcare expenditure per elderly person between 2015 and 2030 (in US$)

COUNTRY 2015 2030
Singapore 8,200 37,400
China 850 3,900
Vietnam 140 1,300

600,000 square meters (6,458,346 square feet)

Size of the redesigned Health City Novena after an expansion program slated to finish by 2030. The integrated health complex in Singapore is growing to deal with the country's aging population crisis. One project slated to close in 2022 will deliver an elderly-focused 500-bed rehabilitation facility.

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Sources: Voice of Asia, Deloitte Insights, 2017; Advancing Into the Golden Years, Marsh & McLennan Companies, 2016; Health City Novena

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