Meticulous Research® has unveiled a report titled, ‘Asia-Pacific Telehealth Market by Component [Hardware (Peripheral Devices, Monitors), Software (Cloud, On-premise), Services (Real-time, Remote Monitoring)] Application (Radiology, Cardiology, Psychiatry) End User (Provider, Payer, Patient) – Forecast to 2030.’
The latest research from Meticulous Research® indicates that the Asia-Pacific telehealth market is projected to grow to $176.63 billion by 2030, with a CAGR of 24.2% during the forecast period. This growth is driven by several factors, including the shortage of healthcare professionals, supportive government policies, an aging population with chronic diseases, increasing digitalization, and greater awareness of telehealth benefits. Advancements such as telerobots and developments in AI and virtual assistants are expected to offer additional growth opportunities. However, technical issues, security concerns, regulatory barriers, and patient privacy issues may pose challenges.
Key Players
Key companies in the Asia-Pacific telehealth market include 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 report also offers insights into the competitive landscape and market share at the country level.
In 2024, the services segment is expected to be the largest component of the Asia-Pacific telehealth market. The segment’s growth is driven by the high utilization of telehealth services such as teleconsultation and telemonitoring, fueled by the aging population, increased prevalence of chronic diseases, and growing telehealth adoption. Benefits such as improved specialist care access, cost reduction, enhanced health outcomes, and increased satisfaction for healthcare providers and patients contribute to the segment’s expansion.
Among applications, psychiatry is anticipated to dominate the market in 2024. The effectiveness of telepsychiatry in improving mental health care access and quality is leading to its rapid adoption. The COVID-19 pandemic and a shortage of psychiatric care have accelerated the use of telepsychiatry for evaluations, therapy, and medication management.
For end users, healthcare providers are expected to lead the market in 2024 due to rising demand for convenient care solutions and a shortage of medical professionals.
Geographically, China is forecasted to hold the largest market share in the Asia-Pacific telehealth market in 2024. China’s substantial investment in new imaging technologies, advancements in healthcare infrastructure, and a strong emphasis on digital health contribute to its market leadership. With over 90% of health professionals using digital tools and significant government support, China is well-positioned to lead the region.
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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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