Asia Pacific Telemedicine Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Telemedicine is a combination of medical sciences and telecommunication technology, thereby covering the reach of medical help to areas that were earlier difficult to access instantly. Telemedicine services are used in several medical areas containing diabetes control, genetics, primary health care, radiology, pathology, psychiatry, and cardiology etc. Telemedicine greatly enlarged the scope of the healthcare industry by providing emergency care and saving lives.

Asia Pacific Telemedicine Market Segments Size & Growth:

Asia Pacific telemedicine market is accounted for $8.51 billion in 2018 and expected to grow at a CAGR of 21.41% to reach $22.49 billion by 2025 during the forecast period 2019-2025. Major factors that are driving the market growth is due to the growing government initiatives, increasing prevalence of chronic diseases, and demand for care delivery models to enhance the quality of life. However, according to telemedicine industry analysis indigent cases of implementation and lack of surgeon support are restricting the growth of the Asia Pacific telemedicine market share.

Asia Pacific Telemedicine Market Segments Share:

Asia Pacific telemedicine market is categorised into by component which consists of services, hardware, and software. The services segment is projected to account for the significant share of the Asia Pacific telemedicine market due to the growing adoption of remote monitoring solutions by patients in remote rural areas, technological improvements in telecommunication, and the introduction of ACA and related legislation. The software segment is expected to witness the highest growth in the forecast period 2019-2025.

By mode of delivery, it is classified into cloud-based and on-premise solutions. The cloud-based segment is expected to grow at the highest CAGR during the forecast period. Growing awareness of telemedicine in rural areas is likely to fuel the growth of the telemedicine market. By speciality, it is segregated into teleradiology, telecardiology, telepathology, emergency care, others. The telecardiology market is growing at a rapid rate owing to the increasing incidence of cardiac disorders. Tele-radiology accounted for a significant share of the tele-hospitals market driven by varied usage of this technology for shifting patient’s medical reports.

Tele-consulting segment is likely to lead the telemedicine market in 2017. This can be attributed to the growing number of smartphone users and the benefits available with teleconsulting services, like reduced hospital stays, and decreased healthcare expenditure and travel cost. By Geography, the Asia-Pacific market is segmented into various regions like China, India and Japan. Increasing population and growing incidence of chronic diseases will drive the market, particularly in India and China. Japan is one of the few countries in Asia Pacific region offering universal health care insurance for all its residents. Japan Medical Association has made many efforts to support physicians in Japan to make sure the provision of quality healthcare by offering insurance coverage for telehealth services.

Asia Pacific Telemedicine Market Segments Trends:

• In March 2018, Honeywell Incorporated video capability in telehealth platforms to treat patients at home.
• In November 2017, BioTelemetry, Inc., partnered with Apple Inc. to offer cardiac monitoring services in combination with the Apple Heart Study.
• In September 2016, Aerotel and LevMed collaborated to enhance the market share and integrating the products to provide eco-friendly ECG- telemonitoring solutions.

Asia Pacific Telemedicine Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have a complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried out to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact on altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with significant competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The primary key telemedicine market leaders are:

• 3M Health Information Systems
• Agfa HealthCare NV
• Polycom Corp.,
• Siemens Healthcare
• InTouch Technologies, Inc.
• McKesson Corporation
• Medtronic Inc.
• Allscripts Healthcare Solutions Inc.
• Cisco Systems, Inc.

Along with these companies, there were many other companies considered/cited in the report while analysing the Asia Pacific telemedicine market size. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.