A total of 215 deals were announced in the Asia-Pacific (APAC) region during the week ended 29 March 2020, according to GlobalData’s deals database.

The number marked a decrease of 18.6% when compared with 264 deals announced during the previous week.

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Deal activity in the APAC region and across the globe has been experiencing a decline due to the coronavirus (COVID-19) outbreak.

In most of the key APAC markets, deal activity saw a plunge during the week ended 29 March 2020 compared to the previous week.

Deal volume in India dropped by 63.4%, while South Korea and China experienced 40% and 4.4% decline, respectively.

Japan and Australia, however, witnessed 20.7% and 40% growth in deal volume.

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There was a decline in deal activity in sectors like healthcare (including pharmaceuticals and medical equipment) and travel and tourism during the week ended 29 March 2020, compared to the previous week. The retail sector, however, witnessed improvement in deal activity.

Most of the key deal types witnessed a decline in volume during the week. M&A deals volume declined by 32.1%, and private equity, venture financing and partnerships deals dropped by 44.4%, 5.7% and 36.4%, respectively.

The number of licensing agreements announced during the week surged by 33.3%.