Meticulous Research®, a leading global market research company, has released a comprehensive 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."
According to this report, the Asia-Pacific telehealth market is projected to reach $176.63 billion by 2030, growing at a CAGR of 24.2% during the forecast period. This impressive growth is primarily driven by a shortage of healthcare professionals, favorable government policies, an increasing geriatric population with chronic diseases, rising digitalization, and growing awareness of telehealth benefits. Additionally, advancements in telerobotics, artificial intelligence, and virtual assistants are anticipated to create substantial growth opportunities. However, the market faces challenges such as technical difficulties, security breaches, regulatory barriers, and issues related to patient privacy and confidentiality, which could slightly impede its growth.
Key Players
The report profiles several key players in the Asia-Pacific telehealth market, including Aerotel Medical Systems (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 by 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 Devices), Monitors, Telemedicine Kiosks, Telemedicine Carts} Software {Web & Cloud-based, On-premise}, 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 provides competitive analysis and market share insights at the country level.
In 2024, the services segment is expected to dominate the Asia-Pacific telehealth market, accounting for the largest share. This is due to the widespread use of telehealth services, including teleconsultation and telemonitoring, driven by the aging population, increased prevalence of chronic diseases, and growing adoption of telehealth solutions. The benefits of telehealth, such as enhanced access to specialist care, reduced costs, improved health outcomes, and increased satisfaction among doctors and patients, are key growth drivers.
Among the applications analyzed, the psychiatry segment is expected to lead the market in 2024. The growing acceptance of telepsychiatry as an effective tool for improving mental health services is driving this trend. The COVID-19 pandemic and the shortage of psychiatric care providers have accelerated the adoption of telepsychiatry, offering services such as evaluations, therapy, education, and medication management.
Regarding end users, healthcare providers are projected to hold the largest share of the Asia-Pacific telehealth market in 2024. The rising demand for convenient care, coupled with the shortage of medical professionals, contributes to the growth of this segment.
In terms of countries, China is anticipated to capture the largest share of the Asia-Pacific telehealth market in 2024. China's leadership in digital healthcare adoption, including EHRs and telehealth, supported by a robust healthcare infrastructure and government initiatives, positions it at the forefront of the market.
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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 2024–2030?
- 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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