Asia Pacific Digital Health Industry Overview
The Asia Pacific digital health market size was valued at USD 40.3 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 26.5% from 2022 to 2030.
The increasing consumer base for remote healthcare consultation, growing investments in digitalization of healthcare institutions, and rising number of chronic and infectious disease patient populations are some of the major factors anticipated to drive the market growth. In addition, the growing adoption of virtual healthcare services and increasing internet penetration are also expected to accelerate the market growth in this region. Furthermore, the increasing number of COVID-19 cases in Asia Pacific accelerated the adoption of digital health platforms for remote healthcare services.
Gather more insights about the market drivers, restrains and growth of the Asia Pacific Digital Health Market
This, in turn, is anticipated to boost the market growth over the coming years. For instance, according to the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), the total number of COVID-19 cases is projected to rise to over 74.1 million in the Asia Pacific by the end of January 2022. Moreover, the growing adoption of the internet and smartphones in the Asia Pacific region accelerated the scope of using medical, health fitness applications, which, in turn, is anticipated to boost the market growth. For instance, according to the World Bank Data, the percentage of individuals using the internet in South Asia increased from 18.78% in 2018 to 35.33% in 2019.
In addition, the large population living in remote locations are also seeking virtual healthcare services, which is further anticipated to support the market growth. Furthermore, increasing awareness about telehealth services and the growing demand for low-cost remote patient monitoring services are expected to propel the market over forecast years. The growing prevalence of several chronic and infectious disorders in Asia Pacific and the increasing geriatric population, prone to several old age disorders, are also predicted to drive the adoption of remote healthcare services. For instance, in 2021, the Integrated care for chronic diseases in Asia Pacific countries report by the WHO reported that about one-fourth of the population in this region will be 60 years old by 2050.
The WHO also predicted a 20% increase in death due to non-communicable diseases in the year between 2010 to 2020. Therefore, the urgent need for continuous care using digital platforms to manage and treat non-communicable diseases is further supporting the market growth. In addition, the growing adoption of clinical information systems in the form of telehealth and electronic medical records to deliver real-time care and self-management support is also anticipated to support the market growth over the coming years. Moreover, this kind of platform eliminates the need for an in-person consultation and reduces the hassles of scheduling appointments, which, in turn, reduces unnecessary costs and care expenses, thereby driving the market growth.
Furthermore, an increase in healthcare digitalization activities and growing government initiatives in the field of remote patient monitoring are also expected to propel the growth of the market over the coming years. For instance, the Indian Government launched National Telemedicine Service or eSanjeevaniOPD in April 2020, which completed about 1.2 crore teleconsultations by September 2021. In addition, increasing promotion by the government and non-government organizations for the use of telehealth, telecare, and remote patient monitoring services for long-term care services is also expected to accelerate the market growth over the forecast years in Asia Pacific.
The growing unprecedented public health crisis COVID-19 pandemic has catalyzed digital healthcare platform adoption in the region. Rapid infection of COVID-19 and the risk of virus transmission among the patients and medical professionals also increased the demand for remote healthcare service adoption. In addition, the government-imposed lockdown and shut down in the populated countries, such as India and China, reduced the face-to-face healthcare consultation and increased the virtual consultation services adoption, propelling the market growth during the COVOD-19 pandemic.
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Asia Pacific Digital Health Market Segmentation
Grand View Research, Inc. has segmented the Asia Pacific digital health market on the basis of technology, component, and region:
APAC Digital Health Technology Outlook (Revenue, USD Million, 2016 - 2030)
- Tele-healthcare
APAC Digital Health Component Outlook (Revenue, USD Million, 2016 - 2030)
- Software
- Hardware
- Services
APAC Digital Health Regional Outlook (Revenue, USD Million, 2016 - 2030)
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
Market Share Insights
- November 2021: Doctor Anywhere, a Singapore-based company, acquired Doctor Raksa, one of the largest telemedicine platforms in Thailand.
- February 2020: The Chinese government launched a “close contact detector” application that gives information about the near person who has been suspected or confirmed of having the virus.
Key Companies profiled:
Some prominent players in the Asia Pacific digital health market include
- Cerner Corp.
- Allscripts
- Apple, Inc.
- Telefonica S.A.
- McKesson Corp.
- Epic Systems Corp.
- QSI Management, LLC
- ATT
- Vodafone Group
- Airstrip Technologies
- Google, Inc
- Samsung Electronics Co. Ltd
- HiMS
- Orange
- Softserve
- Qualcomm Technologies, Inc.
- MQure
- Computer Programs and Systems, Inc.
- Vocera Communications
- IBM Corp.
- Cisco Systems, Inc.
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