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APAC Digital Health Market Size to Surpass $107.5 Bn By 2026

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According to the Graphical Research new growth forecast report titled “APAC Digital Health Market Size By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors), Apps (Medical, Fitness)}, Health Analytics, Digital Health System (EHR, e-prescribing System)], By Component [Hardware, Software, Services], Industry Analysis Report, Country Outlook (China, Japan, India, Australia, South Korea, Malaysia, Indonesia, Thailand, Singapore, Philippines)”, Estimated To Exceed USD 107.5 Billion By 2026

Increasing importance of digital health and technologies led to increase in venture capital investment to a great extent. For instance, Healthtech funding in the Asia Pacific region reached USD 5.5 billion in 2018 that was almost four times as compared to the funding achieved in 2015. Countries such as China, India and Southeast Asia were leading in terms of signing healthtech in Asia Pacific region. Such a steady amount of funding will make digital health a stable market to invest in. Furthermore, large number of investors are showing interest in funding digital health platforms and start-ups owing to immense growth opportunities and favorable return-on-investment. Therefore, increasing number of venture capital investments will spur growth of APAC digital health market in the future.

Furthermore, in India, Indian Health Service (IHS) maintains an EHR for IHS, Tribal, and Urban Indian health care facilities. This EHR, called the Resource and Patient Management System (RPMS), provides many of its facilities access to decades of personal health information and epidemiological data on local populations. Such government initiatives should propel the APAC digital health market growth.

On the basis of technology, the APAC digital health market is segmented into tele-healthcare, mHealth, healthcare analytics and digital health system. Digital Health system segment accounted for about USD 7.0 billion in 2019 and is expected to show lucrative market growth during the forecast time period. Super specialty clinics and hospitals are using healthcare informatic technologies such as Electronic Health Record (EHR) and Radiology Information System (RIS) that are integrated with medical transcription IT solutions. These technologies help to lessen the medical documentation timelines and help invest greater effort in diagnostic procedures. This will increase the segment adoption that will in turn impact the overall market growth.

On the basis of components, the APAC digital health market is segmented into hardware, software and services. The software segment accounted USD 4.7 billion in 2019 and is anticipated to show steady pace of 33.2% CAGR throughout the analysis time period. Owing to technological advancements, growing software applications and affordable cost associated with these software applications will drive the segmental growth. Furthermore, the cloud-based solutions have leveraged significantly in healthcare settings in the past few years. With cloud-based solutions providing computing potential and high data storage, hospitals could benefit from strengthening data protection at reduced cost. This will increase the adoption and propel the segment growth.

The China digital health market accounted revenue of USD 3.9 billion in 2019 and is expected to show significant growth over the forthcoming years. High growth rate is due to rising disposable income coupled with rising incidence of lifestyle disorders such as diabetes and hypertension in the country. Widespread adoption of new technologies such as mobile devices, initiatives by the Chinese government to assist eHealth to meet long-standing inefficiencies will further drive the market growth. Moreover, the government has reduced barriers in e-commerce, that makes it easier to register for online pharmacies and drives market growth in China.

Major market players operating in digital health industry are BioTelemetry, Allscripts Healthcare, McKesson Corporation, Koninklijke Philips, Cerner Corporation, Cisco and Qualcomm among others. These market players focusing on various business strategies such as collaboration, geographic expansion to strengthen their market position. For instance, in March 2019 Abbott launched digital service program in India. This launch helped the patient in various healthcare needs for treatment and awareness. The launched has strengthen the company’s geographical expansion.

APAC digital health 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:

APAC Digital Health Market, By Technology, 2015-2026 (USD Million)

  • Tele-healthcare
    • Telecare
      • Activity monitoring
      • Remote medication management
    • Telehealth
      • LTC monitoring
      • Video consultation
  • mHealth
    • Wearable
      • BP monitors
      • Glucose meter
      • Pulse oximeter
      • Sleep apnea monitors
      • Neurological Monitors
      • Others
    • Apps
      • Medical apps
      • Fitness apps
  • Health Analytics
  • Digital health system
    • Electronic health records (EHR)
    • e-prescribing system

APAC Digital Health Market, By Component, 2015-2026 (USD Million)

  • Hardware
  • Software
  • Services

The above information is provided for the following countries:

  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • Thailand
    • Indonesia
    • Philippines