Health Care Industry

The global healthcare industry is a complex and diverse sector, encompassing a wide range of activities, services, and players involved in the prevention, diagnosis, treatment, and management of diseases and health conditions. It includes hospitals, clinics, pharmaceutical companies, biotechnology firms, medical device manufacturers, health insurance providers, and public health organizations. The industry operates at multiple levels—local, national, and global—and is influenced by various factors such as technological advancements, demographic trends, economic conditions, and government policies.

DR. Dr. AM Luthfi Parewangi Sp. Pd., Director of Global Health Center – Fundamental Asia (GHC-FA) emphasized that the combined GDP of 140 developing countries in the world was estimated to be around $30 trillion (2022). On the other hand, the global healthcare market (which includes private hospitals, public hospitals, pharmaceuticals, medical devices, and other healthcare services) is projected to reach a value of around $12 trillion in 2024. Private hospitals make up a significant portion of about $3 trillion.

The $12 trillion healthcare market is 40% of the combined GDP of 140 developing countries. While the picture shows a promising development in health care industry, the other side of the picture tells something heartbreaking in the public health. DR. Dr. AM Luthfi Parewangi Sp. Pd. re-emphasized that most health crisis occur in these 140 developing countries, where low scores in life expectancy, high infant and maternal mortality rates, low physician and hospital bed density, and limited access to healthcare are evident. Furthermore, it is common to find weak institutional performance in efficiency and quality of care and low levels of patient satisfaction in these countries.

Global Health Center – Fundamental Asia (GHC-FA) works with Ministry of Health particularly from developing countries on implementing the Fast Track Health Sector Develpment Program. The Global Health Center – Fundamental Asia also can work with WHO, UNICEF, World Bank, PAHO, ECDC, Centers for Disease Control and Prevention (CDC), Global Fund to Fight AIDS, Tuberculosis and Malaria, Gavi, the Vaccine Alliance, Bill & Melinda Gates Foundation, International Federation of Red Cross and Red Crescent Societies (IFRC), and other institution to address the public health accesss and quality in the world.