The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.Read More
APAC mHealth Market Share to Rise till USD 99.4 Bn by 2026
Published Date: 2020-10-09
Request a sample
According to the Graphical Research new growth forecast report titled Asia Pacific mHealth market value is set to exceed USD 99.4 billion by 2026. Increasing incidences of chronic diseases has elevated the demand for mHealth services that assist patients in tracking their health conditions, thereby boosting the market growth. According to a report by the United Nations, Asia-Pacific countries such as Japan, China and Australia has a growing geriatric population and is expected to increase in the near future. Thus, with the rise in geriatric population, chronic neurological illnesses such as Dementia, Alzheimer’s have also increased exponentially in these countries. Attributing to this factor, the usage of neurological monitoring applications and devices have further increased among the population. Moreover, Japan possessing the highest percentage of old people in the world and will contribute largely in the usage of mHealth services. Hence, the above-mentioned factors will fuel the growth of Asia-Pacific mHealth market in the forthcoming years.
Several government initiatives have propelled the growth of mHealth market in Asia Pacific region. According to the National Center for Biotechnology Information (NCBI), the highest number of mHealth program implementations are undertaken due to the significant government investments in healthcare sector across the region. Attributing to these initiatives, there is an increase in launch of smartphones in Asia Pacific region, that further upsurges the usage of mHealth services. Additionally, due to these initiatives, community healthcare workers have adopted mHealth technologies for instructions and guidance in remote areas of Asian countries that do not have access to the healthcare providers. Hence, the above-mentioned factors will fuel the growth of market in the forthcoming years.
However, limitations such as access to healthcare services, affordability by the consumers, and inaccurate results arising from discrepancies in mHealth devices hamper the growth of mHealth market in Asia Pacific region.
Wearable devices segment is expected to witness lucrative growth at 41.5% over the estimation period. The rapid growth can be attributed to the growing need for monitoring of conditions such as diabetes, blood pressure among others. According to the National Institute of Health, China and India are two of the most populated nations, with approximately 150 million patients suffering from diabetes. Thus, the need for regular health monitoring and treatment is addressed by the launch of smartphone-based medical devices or smart wearable medical devices. Hence, owing to this the market will witness a substantial growth in the upcoming years.
Disease and epidemic outbreak tracking segment is expected to witness rapid growth with a CAGR of 42.3%. The rapid growth in this segment can be attributed to the increase in illness across the region. According to the State Council Information Office of People’s Republic of China, approximately 260 million people in China are diagnosed with chronic illnesses every year. Therefore, these chronic illnesses needs continuous remote monitoring services. Additionally, the rising geriatric population in India and Japan leads to an increased chronic illness, thereby augmenting the usage of mHealth services. Hence, owing to the above-mentioned factors, the growth of mHealth market will propel across the region.
Physicians segment witnessed the largest revenue and was valued at USD 2,792.9 million in 2019 and is expected to contribute significantly in the growth of mHealth market. The largest share of this segment can be attributed to increased usage of mobile devices by physicians, thereby resulting in transformation of clinical practices in many aspects across the region. Additionally, the mHealth services significantly increases the access to point-of-care tools to support better clinical decision making and improved patient outcomes. Hence, the above-mentioned factors will boost the growth of the mHealth market in the coming years.
China mHealth market held the largest market share of around 25% in 2019 attributing to the growing geriatric population and rise in chronic conditions. Rising government initiatives in China for healthcare digitalization has further propelled the number of mHealth users. Moreover, as the ongoing pandemic prevails, the usage of mHealth services will increase in the region to reduce the exposure to the virus. Hence, the above-mentioned factors will significantly propel the growth of the market.
Some of the key industry players involved in market include Philips Healthcare, Medtronic PLC, Johnson & Johnson, Cisco Systems Inc., Samsung Healthcare Solutions, AT&T and Omron Healthcare, Inc. among others. These players are proposing strategic mergers, acquisitions, collaborations and partnerships to strengthen their market position. For instance, in June 2020, Samsung Healthcare Solutions launched Health Monitoring Applications in South Korea for blood-pressure monitoring and ECG tracking. This strategic move will assist the company in strengthening its industrial position in the Asia Pacific mHealth market.
Asia Pacific mHealth market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Market, By Platform, 2015-2026 (USD Million)
- Mobile Apps
- Wellness Management
- Diet and Nutrition
- Lifestyle and Stress
- Exercise and Fitness
- Health Condition Management
- Disease Specific
- Medication Reminders
- Healthcare Providers/Insurance
- Wellness Management
- Wearable Devices
- Healthcare and Fitness
- Blood Glucose Monitors
- Cardiac Monitors
- Neurological Monitors
- Respiratory Monitors
- Body & Temperature Monitors
Market, By Application, 2015-2026 (USD Million)
- Communication and Training
- Education and Awareness
- Diagnostics and Treatment
- Disease and Outbreak Tracking
- Remote Data Collection
- Remote Monitoring
Market, By End-use, 2015-2026 (USD Million)
- Insurance Company
- Research Centers
- Biopharmaceutical Companies
- Tech company
The above information is provided for the following region and countries:
- South Korea
- New Zealand