Asia-Pacific Telemedicine Market
The APAC Telemedicine market is analyzed based on the five major countries such as China, Japan, India, Australia, South Korea, and the rest of APAC. The APAC region is expected to be the fastest-growing region among all other regions. The growth of the market in the APAC region is expected to grow at a faster pace owing to factors such as the growing prevalence of chronic disease in countries such as Australia, India, and others. Furthermore, the rising incidence of chronic ailments like cancer and diabetes is expected to develop the market during the assessment timeframe. Also, the lack of physicians in the presence of growing health care services demands boosts telemedicine market share are projected to drive the APAC telemedicine market during the forecast period.
Countries in APAC are facing challenges due to the increasing incidence of COVID-19. People are packing India's public hospitals, as many are unable to afford private ones that generally uphold higher standards of care. The outbreak has severely affected the tourism industry and imposed supply chain disruptions. Moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Although telemedicine has been used spottily in Indian health care so far. In 2020 COVID-19 pandemic provided the nation's health systems an unprecedented opportunity to make a concerted effort to increase access and coverage. India's digital health market is poised to grow rapidly over the next five years, propelled by the COVID-19 pandemic, according to a MedTech article published in 2020. E-pharmacies in India are also gaining traction and are expected to account for 10% to 12% of all sales of medicines in the next five years, up from the current 2% to 3% level. The growth will be driven by solid regulations, increased funding, and the creation of a more substantial digital infrastructure. Thus, in APAC, the COVID-19 pandemic brings to the forefront digital solutions that allow patients to gain access to a doctor without stepping into a hospital or clinic. For instance, according to Philips' 2019 Future Health Index survey, Singapore, China, and Australia are early adopters of telemedicine across APAC. Before the pandemic, these countries were already characterized by robust telemedicine platforms and government support. Moreover, telemedicine practices in India have slowly and steadily gained a foothold. ISRO took various steps for the department of information technology (DIT), the ministry of external Affairs, the ministry of health and family welfare, and the state governments played a vital role in developing telemedicine services in India. Healthcare professionals who are in the frontline response to the COVID-19 pandemic are at the highest risk of infection. Hence, adopting telemedicine can help to minimize the risk by reducing the number of personal interactions. Thus, the rising need for telemedicine in the pandemic is likely to boost the market growth during the forecast period.
Strategic insights for the Asia-Pacific Telemedicine provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 13,430.12 Million |
| Market Size by 2028 | US$ 45,710.04 Million |
| Global CAGR (2021 - 2028) | 19.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia-Pacific Telemedicine refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The telemedicine market in APAC is expected to grow from US$ 13,430.12 million in 2021 to US$ 45,710.04 million by 2028; it is estimated to grow at a CAGR of 19.1% from 2021 to 2028. Smartphones are making healthcare practices more comfortable and manageable as they play key role in the collection of patient’s health data; moreover, they can also act as a medium to provide healthcare services as well as to provide prescriptions, medical knowledge, recommendations, and so on. The telemedicine technology allows healthcare providers to support patients throughout disease surveillance, guidance treatments, and chronic disease management. However, the COVID-19 pandemic has had a big impact on internet user research, and hence, the actual figures are likely to be much higher. In addition, in 2018, UNICEF developed RapidPro, a unique and innovative dashboard-system, to help the Malaria Sub-directorate of the Ministry of Health (MoH) in keeping track of health; the system is in effect since 2018, spanning 20 provinces and 20,000 villages. UNICEF is likely to continue to refine and expand the use of telemedicine tools to enhance the capabilities of communities and governments to manage HIV and malaria infections, awareness, immunization, and integrated national data as well as to ensure the long-term sustainability and scalability of the RapidPro program, as it is gradually being handed over to the government.
APAC telemedicine market is segmented into type, product and services, specialty, delivery mode, and country. APAC telemedicine market, based on the product and services is segmented into software and hardware, tele-consulting, tele-monitoring, and tele-education/training. In 2020, the software and hardware segment held the largest share of the market. APAC telemedicine market, based on the type was segmented into telehospital, and telehome. In 2020, the telehospital segment held the largest share of the market. APAC telemedicine market, based on the specialty was segmented into cardiology, gynecology, orthopedics, neurology mental health (psychiatry) and others. In 2020, the others segment held considerable share of the market. APAC telemedicine market, based on the delivery mode was segmented into mobile, web, and call centers. In 2020, the mobile segment held the largest share of the market. Based on country, the APAC telemedicine market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.
A few major primary and secondary sources referred to for preparing this report on the telemedicine market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Allscripts Healthcare Solutions, Inc.; Cerner Corporation; Cisco Systems, Inc.; Honeywell International, Inc.; Insight; Koninklijke Philips N.V.; McKesson Corporation; and Teladoc Health.
The Asia-Pacific Telemedicine Market is valued at US$ 13,430.12 Million in 2021, it is projected to reach US$ 45,710.04 Million by 2028.
As per our report Asia-Pacific Telemedicine Market, the market size is valued at US$ 13,430.12 Million in 2021, projecting it to reach US$ 45,710.04 Million by 2028. This translates to a CAGR of approximately 19.1% during the forecast period.
The Asia-Pacific Telemedicine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Telemedicine Market report:
The Asia-Pacific Telemedicine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Telemedicine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Telemedicine Market value chain can benefit from the information contained in a comprehensive market report.
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