A dip in Asian Healthcare Funding – Opportunity for the EU
The pandemic of COVID 19 brought in various sectoral changes. For a long time, investment in the Medical sector was limited and static. This trend is now changing. Countries across the globe are investing and upgrading their healthcare sector. The pandemic has exposed existing situations in various countries and has forced governments to increase funding in the healthcare sector.
Since Q2 of 2018, global healthcare funding of $15,454M saw an exponential jump scaling to $31,200M. No doubt, apart from other existing factors, COVID 19 played a vital role in this expansion.
We can see that in Q1 of 2021, there is a dip of $1,058M in Asian funding. This raises a concern as 2 of the world’s highest populated countries are in Asia, and this reduced funding might bring challenging days in the future (we all know about India’s Oxygen Scarcity crisis). Despite a dip in funding, Asia continues to remain the second-highest Healthcare fund supplier after North America.
Interestingly, Europe’s healthcare funding saw a slight rise of $1,191M spotlighting the introduction of new start-up and products by healthcare giants. The European Market shows a positive sign towards progress in Healthcare and Medical Devices.
It will be interesting to note the future trends as there is high volatility in fund allocation and economic performance. The positively fluctuating funding trends from the EU market sparks a favourable chance of expanding the product base to EU markets. This market has always been favourable for Medical Devices and Diagnostics as it gives access to 20+ EU Countries.
If you plan to expand your product reach to the EU Market, Contact us on +353 (0)91-704804 / firstname.lastname@example.org for a Free Regulatory Consultation. Med-Di-Dia provides various Regulatory services, including EU Authorised Representative.
Data input from CBInsights