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Emerging Opportunities in Myanmar’s Diagnostic Imaging and In-Vitro Diagnostics by Solidiance


Economic growth and demographic changes in Myanmar are driving healthcare spending, creating emerging opportunities for private healthcare companies, especially in the Diagnostic Imaging (DI) and In-Vitro Diagnostics market. However, demand is increasing faster than supply, requiring global healthcare players to have a long strategic view of the market. The white paper analyses these trends and provides strategic insights to capitalize on these opportunities.

Yangon, Burma, December 12, 2015 --(PR.com)-- Economic growth and demographic changes in Myanmar are driving healthcare spending throughout the country, with its total healthcare expenditure set to cross USD 2 billion for FY 2015-2016. The country is also witnessing rapid growth in healthcare demand which inevitably results in the development of the healthcare system. These shifts are creating emerging opportunities for private healthcare companies, especially in the Diagnostic Imaging (DI) and In-vitro Diagnostics market.

Solidiance’s latest white paper titled “Emerging Opportunities in Myanmar’s Diagnostic Imaging and In-Vitro Diagnostics” analyses these trends and discovers that, however, demands in the market grow faster than the supply. Global healthcare players are therefore required to adapt to a fast evolving market and think of sustainable long term strategies to capitalize on these opportunities.

Myanmar’s healthcare economics

Although Myanmar’s total healthcare expenditure is the lowest among other neighbouring Asian countries, it has nevertheless increased significantly from 12% in 2010 to 40% four years later, accounting for 2.7% of total government budget in 2014.

Around 70% of Myanmar’s population stay in rural areas with minimal access to healthcare services. Private hospitals account for 14% of total hospitals and contribute to 7% of total beds in Myanmar. On the other hand, public hospitals account for ~86% of hospitals but are far behind regional quality standards. Half of the private hospitals in Yangon even have less than 25 beds.

Between 2010 and 2014, the number of deaths by non-communicable diseases (NCD) has increased from 40% in 2010 to 59% in 2014. The increasing trend of NCDs suggests the need for better diagnostic services such as Diagnostic Imaging (DI) and In-Vitro Diagnostics (IVD) in the country.

Market Potential for Diagnostic Imaging (DI) in Myanmar

In 2014, 60% of total deaths are caused by NCDs, which are mainly due to non-detection in early stages which is directly related to diagnostic imaging (DI), spurring demands for more DI equipment. However, advanced DI equipment is only available is public tertiary hospitals and big private hospitals in main cities such as Yangon, Mandalay, Nay Pyi Taw, and Taung Gyi.

2D Ultrasound machines, CT scanners and MRI scanners are present in public hospitals while more advanced equipment such as 3D, 4D and Doppler machines are found in private hospitals.

In-Vitro Diagnostics in Myanmar : Market Challenges

Private facilities are leading the In-vitro Diagnostics (IVD) testing in Myanmar – accounting for 60% in diagnostic centres in 2015. Nearly all private laboratories are standalone with 40% market share in medical check-ups and laboratory testing devices.

Myanmar is facing population pressure with increasing proportion of people above 60 years old. Growing usage of modern IVD is therefore essential to reduce cost and increase operational efficiency for the healthcare facilities.

Although the number of laboratories in Myanmar has increased in the past three years, it is still inefficient to meet growing demand. The majority of IVD tests are done in Myanmar, but the upper middle class (which represents ~10% of the population) get their IVD tests abroad for specific diseases to ensure better accuracy.
Contact Information
Solidiance
Sitaresti Astarini
+62 21 7919 2615
Contact
www.solidiance.com

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