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Meticulous Research®—leading global market research company, published a research report titled, ‘Asia-Pacific Telehealth Market by Component [Hardware (Peripheral Devices, Monitor), Software (Cloud, On-premise), Services (Real-time, Remote Monitoring)] Application (Radiology, Cardiology, Psychiatry) End User (Provider, Payer, Patient) - Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the Asia-Pacific telehealth market is projected to reach $176.63 billion by 2030, at a CAGR of 24.2% during the forecast period. The growth of the Asia-Pacific telehealth market is mainly attributed to the shortage of healthcare professionals, favorable government policies and initiatives, the increasing geriatric population coupled with chronic diseases, increasing digitalization, and rising awareness about the benefits of telehealth. In addition, the development of telerobots and the use of artificial intelligence and virtual assistants are expected to offer better growth opportunities for market expansion. However, the limitations, such as technical difficulties, security breaches, regulatory barriers, and physical examinations of telehealth and patient privacy and confidentiality issues, are expected to restrain the growth of this market to some extent.
Key Players
The key players profiled in the Asia-Pacific telehealth market are Aerotel Medical Systems (1998) Ltd. (Israel), Cerner Corporation (U.S.), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), AMD Global Telemedicine, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Doctor On Demand, Inc. (U.S.), MDlive Inc. (U.S.), Siemens Healthineers AG (Germany), Teladoc Health, Inc. (U.S.), Zipnosis, Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Tunstall Group (U.K.), ClearArch, Inc. (U.S.), and Resideo Technologies Inc. (U.S.)
Asia-Pacific Telehealth Market: Future Outlook
The Asia-Pacific telehealth market is segmented based on Component [Services {Real-time (Synchronous), Store-and-forward (Asynchronous), Remote Patient Monitoring} Hardware {Medical Peripheral Devices (Blood Glucose Monitors, Blood Pressure Monitors, Weighing Scales, Pulse Oximeters, Peak Flow Meters, ECG Monitors, Other Medical Peripheral Devices), Monitors, Telemedicine Kiosks, Telemedicine Carts} Software {Web & Cloud-based Software, On-premise Software}, Application {Psychiatry, Radiology, Cardiology, Primary Care, Dermatology, Remote ICU, Other Applications}, End User {Healthcare Providers, Patients, Healthcare Payers, Other End Users}], and Country. The study also evaluates industry competitors and analyzes their market share at the country level.
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 telehealth market. The large market share of this segment is attributed to the high utilization of telehealth services, including teleconsultation and telemonitoring, due to the increase in the geriatric population, an increase in the prevalence of chronic diseases, and a rise in the adoption and awareness of telehealth solutions. Moreover, increased access to specialist care, reduced expenses & healthcare costs, improved health outcomes, increased healthcare efficiencies, and increased doctor & patient satisfaction drive the growth of this segment.
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Among all the applications studied in the report, in 2023, the psychiatry segment is expected to account for the largest share of the Asia-Pacific telehealth market. The acceptance of telepsychiatry is rising rapidly as an efficient and effective tool for improving access, quality, and efficiency in mental health treatment. The shortage of primary psychiatric care and the outbreak of the COVID-19 pandemic have led to greater adoption of telepsychiatry services. Psychiatrists use telemedicine to provide many of the same services they would provide in person, including psychiatric evaluations, individual therapy, group therapy, family therapy, patient education, and medication management.
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 telehealth market. Factors contributing to the large market share of this segment are the rise in demand for convenient care along with the unavailability of medical professionals.
Among all the countries studied in the report, in 2023, China is expected to account for the largest share of the Asia-Pacific telehealth market. Factors such as the high adoption of new imaging technologies, improving healthcare infrastructure, and rising focus on healthcare digitalization contribute to the large market share of this segment. Compared to other Asian countries, China leads in digital healthcare. Over 90% of the country’s health professionals have adopted digital health tools, including EHRs and telehealth, and the Government of China plays a major role in it.
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Key questions answered in the report:
• What are the high-growth market segments based on component, application, end user, and country?
• What was the historical market for telehealth 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 telehealth market?
• Who are the major players in the Asia-Pacific telehealth market?
• What is the competitive landscape of the Asia-Pacific telehealth market, and who are the market leaders?
• What are the recent developments in the Asia-Pacific telehealth market?
• What strategies are adopted by the major players in the Asia-Pacific telehealth market?
• What are the geographical trends and high-growth countries?
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