The size of the Asia Pacific Healthcare IT Market is anticipated growing with a CAGR of 7.2% during the forecast period.
Some of the key drivers of the Asia Pacific healthcare IT market are paperless technology, increased government programs in healthcare IT sectors, cloud services adoption, and chronic disease prevalence. In addition, sustainable growth of the economy over the past two decades, key government policies in effect, increased IT capabilities & outsourcing, increased incidences of chronic diseases, the advent of big data in healthcare, and improvements in the results of medical processes are the main factors that drive growth in markets.
A major barrier to the market is the lack of IT expertise among healthcare professionals in this area. Although they are better qualified than their U.S. counterparts, their skills can be further developed. IT specialists are currently struggling to cope with complex business analytics technologies and medical professionals are unable to take advantage of these approaches to their advantages. This not only inhibits the growth of the market but also concerns the accuracy of health care analytics for businesses. Very few private companies in this region have carried out health care analytics.
Over the past few years, with the exponential increase in the IT healthcare industry, there has been a significant growth in healthcare analytics that can predict future patterns, monitor quality, and make decisions using chronological data. Increased investment by government and non-governmental institutions in Research & Development is contributing to the growing market demand. It would help improve performance, reliability, and service delivery, resulting in improved quality of patient care and clinical outcomes that laterally minimize health care costs and hospital readmission.
This research report segmented & sub-segmented the Europe Healthcare IT Market into the following categories:
It is anticipated that emerging economies like China, India, and ASEAN will offer high-growth opportunities across all sections. The Asia-Pacific healthcare market is estimated to grow at a significant rate during the forecast period by Frost & Sullivan. Variables such as large patient populations, particularly in China and India, increasing per capita income, boosting investments by key market players in the healthcare sector, and raising awareness of modern technologies are driving APAC market growth. Healthcare problems remain the same in the APAC region, though; access and affordability of new technologies require complex and innovative solutions from all stakeholders in the market.
In addition, the rising number of medical systems such as hospitals, clinics, nursing homes, and other outpatient care settings; the increasing prevalence of chronic disorders in this area will drive the APAC region's Healthcare IT Market.
The state and federal governments in Australia are also supporting HIT initiatives across the state and across the region. Health Smart, a four-year development project in the state of Victoria and Health Connect, the federal government's national electronic health records system, are some indications of such programs in the past. This will help in the growth of the market in this region.
Companies like Cerner Corporation, Oracle Corporation, Mckesson Corporation, Philips Healthcare, Novarad Corporation, GE Healthcare, Carestream Health, eClinicalworks, EPIC Systems Corporation, Siemens Healthcare (Siemens AG), Athenahealth Inc. and Allscripts Healthcare Solutions, Inc. are playing a key role in the APAC Healthcare IT Market.
APAC Healthcare IT Market