March 11, 2020
As per the report titled ‘Asia Pacific Digital Health Market Size By Technology, Country Outlook, Industry Forecast, 2019 – 2025’, available with Market Study Report LLC, Asia Pacific digital health market is anticipated to cross USD 80.7 billion valuation by 2025.
According to reliable estimates, several government initiatives promoting the use of digital health solutions among physicians and patients are driving the market growth. Inflow of investments for development of telecommunication network and healthcare infrastructure will further foster the market growth during the forecast period.
Increasing prevalence of lifestyle diseases such as diabetes, hypertension, obesity, obstructive sleep apnea, and chronic obstructive pulmonary disease is boosting the demand for technologically advanced solutions for the treatment and prevention of these diseases, which in turn is encouraging the adoption of digital services across the healthcare sector.
Rising disposable income and changing lifestyle are also complementing the market growth. However, lack of awareness and stringent regulatory framework may hamper the market growth in the forthcoming time period.
Based on the technology, Asia Pacific digital health market is categorized into tele-healthcare, mHealth, health analytics, and digital health systems. The tele-healthcare segment is anticipated to grow with a CAGR of 31.8% between 2019 and 2025. Rising funds for telehealth, lack of doctors, rapidly developing telecommunication sector, and growing awareness regarding telehealth are the factors driving the segmental growth. Accessibility in remote areas and real-time treatment plans are encouraging the adoption of tele-healthcare facilities in Asia Pacific.
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Considering the geographical landscape, Asia Pacific digital health market is split into India, China, Japan, South Korea, Australia, Malaysia, Indonesia, Thailand, Singapore, and Philippines. Among these, India digital health market is anticipated to register 35% CAGR during the analysis period, owing to increasing requirement for efficiently storing and managing healthcare data coupled with a growing need to reduce operational cost. Moreover, favorable government initiatives regarding digital health services will positively impact the market growth in the coming years.
Prominent players of Asia Pacific digital health market include companies like Allscripts Healthcare Solutions Inc., Cerner Corporation, Philips Healthcare, BioTelemetry, Inc., Cisco Systems, iHealth Lab, Inc., eClinicalWorks, AT&T, McKesson Corporation, Qualcomm, and Koninklijke Philips N.V.
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