Meticulous Research®—a leading global market research company, published a research report titled, ‘Asia-Pacific Healthcare IT Market by Product [{EMR, EHR, RCM, PACS, mHealth, RIS, Telehealth, SCM, Healthcare Analytics, HIE}, Component {Software, Service}, Delivery Mode {Web, Cloud}, End User {Hospitals, Homecare, Pharmacies, Ambulatory}] - Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the Asia-Pacific healthcare IT market is projected to reach $153.70 billion by 2030, at a CAGR of 20.2% during the forecast period. The growth of the Asia-Pacific healthcare IT market is mainly attributed to advancing value-based care in the Asia-Pacific region, increasing awareness about digital health, rising use of big data in healthcare management, high return on IT investment in the Healthcare industry, and supportive government initiatives for healthcare IT. In addition, the rising adoption of AI and IoT in healthcare and the growing adoption of cloud-based solutions are expected to offer better growth opportunities for market expansion. However, high installation and maintenance costs are expected to restrain the growth of this market to some extent.
Key Players
The key players profiled in the Asia-Pacific healthcare IT market are Cerner Corporation (U.S.), McKesson Corporation (U.S.), International Business Machine Corporation (IBM) (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), GE HealthCare Technologies Inc. (U.S.), athenahealth, Inc. (U.S.), Optum, Inc. (U.S.), Dell Technologies Inc. (U.S.), Oracle Corporation (U.S.), Infor, Inc. (U.S.), Cognizant Technology Solutions Corporation (U.S.), Nuance Communications, Inc. (U.S.), eClinicalWorks (U.S.), NextGen Healthcare, Inc. (U.S.), Computer Programs and Systems, Inc. (U.S.), Conifer Health Solutions, LLC. (U.S.), and 3M Company (U.S.).
Asia-Pacific Healthcare IT Market: Future Outlook
The Asia-Pacific Healthcare IT market is segmented by Product [{Healthcare IT Provider, Healthcare Payer Solutions, HCIT Outsourcing}, by Delivery Mode {Web & Cloud-Based, On-Premise}, by Component {Services, Software, Hardware}, by End User {Healthcare Providers, Healthcare Payers}], and Country. The study also evaluates industry competitors and analyzes their market share at the country level.
Among all the product types studied in the report, in 2023, the healthcare IT provider solutions segment is expected to account for the largest share of the Asia-Pacific healthcare IT market. The healthcare IT provider solutions segment is further segmented into clinical and non-clinical healthcare IT solutions. In 2023, the clinical HCIT solutions segment accounted for the largest share of the healthcare IT provider solutions market. Factors such as a growing focus on patient safety & care, increasing demand for integrated healthcare systems, and changing regulatory requirements for healthcare providers are contributing the largest share of this market.
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Among all the delivery modes studied in the report, in 2023, the web & cloud-based segment is expected to account for the largest share of the Asia-Pacific healthcare IT market. Factors such as flexibility of working from remote areas, affordability, automated updating features, less capital investment, and limited requirement of IT resources are driving the growth of the segment.
Among all the components studied in the report, in 2023, the services segment is expected to account for the largest share of the Asia-Pacific healthcare IT market. Factors contributing to the large market share of this segment include the increasing need to reduce healthcare costs, the growing installation of digital solutions, and increasing demand for healthcare services across the region are the key factors contributing to the largest share of the market.
Among all the end users studied in the report, in 2023, the healthcare providers segment is expected to account for the largest share of the Asia-Pacific healthcare IT market. Factors contributing to the large market share of this segment include the expansion of tertiary/specialty care hospitals, increasing investments & regulatory, growing incidences of chronic diseases, increasing demand for quality healthcare, and growing healthcare infrastructure in the region are expected to drive the segment’s growth.
Among all the countries studied in the report, in 2023, China is expected to account for the largest share of the Asia-Pacific healthcare IT market. Factors such as large investments in healthcare infrastructure improvement over the years, the country’s strong growth in urbanization and economic expansion, growing purchasing power, and rising healthcare spending are expected to drive the market in the country. Healthcare spending in China reached approximately USD 583.43 million by 2020. This was primarily fueled by increasing per capita incomes, growing healthcare spending, and government healthcare reforms.
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Key questions answered in the report:
• What are the high-growth market segments regarding product, delivery mode, component, end user, and country?
• What was the historical market for healthcare IT solutions in Asia-Pacific?
• What are the market forecasts and estimates for 2023–2030?
• What are the major drivers, restraints, challenges, and opportunities in the Asia-Pacific healthcare IT market?
• Who are the major players in the Asia-Pacific healthcare IT market?
• What is the competitive landscape like, and who are the market leaders in the Asia-Pacific healthcare IT market?
• What are the recent developments in the Asia-Pacific healthcare IT market?
• What strategies are adopted by the major players in the Asia-Pacific healthcare IT market?
• What are the geographical trends and high-growth countries?
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