Elderly Healthcare in Asia Pacific Will Cost US$20 Trillion over the Next 15 Years

SINGAPORE–(BUSINESS WIRE)–Elderly healthcare in the Asia Pacific region will cost more than US$20
trillion between 2015 and 2030, according to a new report released today
by Marsh & McLennan Companies (NYSE:MMC), a global professional services
firm offering clients advice and solutions in risk, strategy, and
people, and its newly launched Asia Pacific Risk Center (APRC). The
center is MMC’s inaugural risk research institute in the region and is
supported by the Singapore Economic Development Board (EDB).

The APRC’s report, Advancing into the Golden Years — Cost of
Healthcare for Asia Pacific’s Elderly
, forecasts a steep rise in
elderly healthcare costs and calls for urgent action from governments,
insurers, healthcare providers, corporates, and citizens.

Commenting on the findings of the center’s first report, Wolfram
Hedrich, Executive Director, APRC said: “The Asia Pacific region is
ageing at a faster rate than any other region in the world. Key
stakeholders, including governments, insurers, and individuals, are not
fully prepared from a financing, infrastructure, and workforce
perspective for the escalating costs of caring for more than 200 million
additional elderly citizens in the region.”

Pressing need for action on healthcare for the elderly in Asia Pacific

Although Asia Pacific is a diverse region, by 2030 it is anticipated
that there will be a 71 percent increase in the number of elderly people
aged 65 and above, compared to a 55 percent increase in North America
and a 31 percent increase in Europe during the same timeframe.

Annual elderly healthcare expenditure is expected to reach US$2.5
trillion by 2030 in Asia Pacific, five times more than what it cost in
2015. Cumulatively, between 2015 and 2030, elderly healthcare is
forecast to cost US$20 trillion, representing half of all healthcare
expenditure in the region during that period.

The region will also face a shortage of an estimated 18.2 million
professional long-term caregivers by 2030. Significant investment in
both infrastructure and human capital will be required to meet the

The report conveys a pressing need for action, and highlights global
best practices and innovative approaches to elderly healthcare — such as
the need for radical changes to public policy and healthcare business
models — to which key stakeholders in Asia Pacific should pay particular

To read the report, please click here.

About Marsh & McLennan Companies

MARSH & McLENNAN COMPANIES (NYSE: MMC) is a global professional services
firm offering clients advice and solutions in the areas of risk,
strategy and people. Marsh
is a leader in insurance broking and risk management; Guy
is a leader in providing risk and reinsurance intermediary
services; Mercer
is a leader in talent, health, retirement and investment consulting; and Oliver
is a leader in management consulting. With annual revenue of
$13 billion and approximately 60,000 colleagues worldwide, Marsh &
McLennan Companies provides analysis, advice and transactional
capabilities to clients in more than 130 countries. The Company is
committed to being a responsible corporate citizen and making a positive
impact in the communities in which it operates. Visit www.mmc.com
for more information and follow us on LinkedIn
and Twitter @MMC_Global.

About the Asia Pacific Risk Center (APRC)

The Asia Pacific Risk Center is Marsh & McLennan Companies’ research
institute dedicated to analyzing the key risks facing industries,
governments, and societies in Asia, and identifying practical ways to
build resilience and realize opportunity. The APRC helps decision makers
address these risks through research and insight that combine MMC’s
rigorous analytical approach to risk management with leading thinking
from renowned research partners.

About BRINK Asia

BRINK Asia (www.brinknews.com/asia)
is a digital platform made possible by Marsh
& McLennan Companies
and managed by Atlantic
Media Strategies
, the digital consultancy of The Atlantic. BRINK
Asia delivers practical and timely insights to top executives and policy
leaders in the Asia Pacific region and worldwide. It combines knowledge
and expertise from across MMC with other leading experts on risk and
resilience. BRINK Asia informs global decision makers on current and
emerging risks relevant to the Asian market. BRINK Asia is part of the
global BRINK digital platform (www.brinknews.com).


Marsh & McLennan Companies
Laura Schooler, +1-212-345-0370
Francine Minadeo, +1-212-345-6417