DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Digital Health Market Size, Share & Trends Analysis Report by Technology (Tele-healthcare, mHealth, Healthcare Analytics), by Component (Hardware, Services), by Region (China, Australia), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific digital health market size is expected to reach USD 326.7 billion by 2030 and is expected to expand at a CAGR of 26.5%
Growing chronic disease patient population, and favorable government initiatives to develop digital healthcare platforms are some of the major factors anticipated to drive the market growth over the forecast years. In addition, rapidly growing healthcare IT infrastructure and increasing demand for remote patient monitoring services are also expected to boost the market growth in the region. Moreover, the growing penetration of smartphones and the internet is supporting the market growth.
For instance, according to GSMA's, The Mobile Economy Asia Pacific report, in 2021, 1.8 billion people will subscribe to mobile services by 2025, which is 62% of the total population of the region. The telehealthcare segment dominated the market in terms of revenue share in 2021 due to the increasing consumer-centric digital health ecosystems and rapid change towards the implementation of telehealthcare platforms for remote patient monitoring.
The government-imposed lockdowns and restrictions on social movement have risen the adoption of telehealthcare services during the COVID-19 period in the region. The main services provided by telehealth includes specialist consultant services, prescribing drugs/pharmacy, and mental health.
Moreover, due to the lockdown and travel ban, many patients turned to remote treatment and diagnosis using telehealth platforms, which, in turn, is anticipated to drive the segment over the forecast periods.
Based on components, the hardware segment dominated the market in 2021 owing to the rapid digitalization of healthcare institutions and the high adoption of hardware platforms, such as mobiles, tablets, computers, and wearables by patients. In addition, the increasing focus of hospitals on investing in digitalization to increase patient satisfaction and minimize error further supports the segment growth.
However, the highest growth rate is anticipated from the software segment during forecast years owing to the rapid digitalization of healthcare facilities and increasing adoption of healthcare software & applications to improve patient engagement for health management.
Asia Pacific Digital Health Market Report Highlights
- The rise in cases of coronavirus decreased the in-person health consultation and increased the demand for virtual health consultation
- This factor boosted the adoption of digital health during the COVID-19 pandemic. In addition, promotional activities are undertaken by the governments during the pandemic to use mobile applications for remote health management also propelled the market growth
- The continuous lockdown and shut down the impact and higher patient population coupled with the concerns regarding medical staff shortage also drove the adoption of virtual healthcare services, thereby accelerating the market growth
- Furthermore, a rise in developmental activities of medical and fitness apps by the manufacturers due to high consumer demand also boosted the market growth
Market Segmentation and Scope
- mHealth wearables
- mHealth apps
- mHealth services
- Healthcare analytics
- Digital health systems
Market Driver Analysis
- Increasing adoption of digital healthcare
- Rise in artificial intelligence, IoT, and big data
- Growing adoption of mobile health applications
- Supportive initiatives and increasing strategic alliances
- High penetration of smartphones
Market Restraint Analysis
- Cybersecurity and privacy concerns
- Digital health technology unable to deliver the promised results
Asia Pacific Digital Health Market Analysis Tools
Industry Analysis - Porter's
Pipeline analysis (Upcoming technologies)
- Apple Inc.
- AirStrip Technologies
- Google Inc.
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
- Telefonica S.A.
- Vodafone Group
- Cerner Corporation
- McKesson Corporation
- Epic Systems Corporation
For more information about this report visit https://www.researchandmarkets.com/r/lojt9s