How Will the Asia-Pacific Healthcare IT Market Reach $153.70 Billion by 2030?


Posted July 30, 2024 by Pratiksha

Projected to soar to $153.70 billion by 2030, the Asia-Pacific Healthcare IT Market is set to grow at an extraordinary CAGR of 20.2% between 2024 and 2030.
 
The Asia-Pacific healthcare IT market is on a trajectory to achieve $153.70 billion by 2030, with an impressive CAGR of 20.2% from 2023. This growth marks a significant shift from basic IT functions to advanced clinical applications and data management.

Driving Factors and Opportunities:

Government-Backed Digital Health Initiatives: Thailand's DEPA and AstraZeneca Thailand partnership, Australia's Digital Health Agency efforts, and India's Ayushman Bharat Digital Mission are key drivers promoting digital health solutions.
Cloud Solutions: The complexity of healthcare data is driving the adoption of scalable and flexible cloud solutions. Clinical applications like imaging data management and telehealth are set to see rapid growth.
Value-Based Care and AI Integration: The move towards value-based care, growing digital health awareness, and the integration of big data, AI, and IoT offer substantial growth opportunities.
Segment Insights:

Healthcare IT Provider Solutions: Expected to be the largest segment in 2023, driven by the need for integrated systems and patient safety.
Web & Cloud-Based Solutions: Anticipated to dominate due to their cost benefits and flexibility.
Services Segment: Projected to grow significantly due to the need for expert implementation and management of healthcare IT systems.
China's Leading Position:
China is forecasted to hold the largest market share by 2023, driven by its aging population, high prevalence of chronic diseases, improved healthcare infrastructure, and extensive government digitization efforts. AI and telehealth services adoption further enhance growth prospects.

Leading Companies:
Key players in the market include Cerner Corporation, McKesson Corporation, IBM, Allscripts Healthcare Solutions, Koninklijke Philips N.V., and GE HealthCare Technologies, driving innovation and market expansion in the Asia-Pacific region.
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Last Updated July 30, 2024