Nearly 9 in 10 APAC consumers prioritise health and well-being

Over 50% are willing to boost out-of-pocket healthcare spending for improved outcomes, experiences, and efficiency.

About 85% of consumers in the Asia-Pacific region now prioritise healthcare maintenance and lifestyle adjustments, a six-percentage-point increase from 2021, data from Bain & Company's Asia-Pacific Front Line of Healthcare 2024 report revealed.

In the Asia-Pacific Front Line of Healthcare 2024 report, Bain & Company found that consumers in the region are willing to allocate more funds towards healthcare with 51% of respondents (58% of GenZ) expressing readiness to increase out-of-pocket spending on healthcare in exchange for enhanced health outcomes, better experiences, and increased efficiency.

Within high-income brackets, 50% of respondents reported increased expenditure on nutritional supplements which is a figure exceeding the overall population's spending rate of 45%.

Moreover, Gen Zs demonstrated a particular focus on preventive products and services within the consumer health category, with a marked surge in demand for nutrition and supplements.

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“Healthcare is no longer a passive experience. Asia-Pacific consumers are taking charge of their health and are willing to invest in wellness,” said Vikram Kapur, head of Bain & Company’s APAC Healthcare and Life Sciences practice, based in Singapore.

“In addition, our survey shows consumers demand a single touchpoint to manage their care, and with artificial intelligence (AI) and health tech unlocking the power of personalized care and reinventing how we deliver healthcare,” he added.

Additionally, consumers are also increasingly open to receiving care outside traditional hospital settings, particularly for routine check-ups and diagnostic services, compared to 2021.

Around 73% of surveyed consumers (82% in Gen Z) expressed willingness to explore pharmacy-provided healthcare, provided there are partnerships between pharmacies and other healthcare providers such as clinics or specialists in the next two years.

The report involved a survey of 2,300 consumers across nine key markets namely, Australia, Mainland China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, and Vietnam in 2023.

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