The Asia Pacific Telemedicine Market size is estimated to grow from USD 8.51 billion in 2020 to USD 22.45 billion in 2025, with a compound annual growth rate (CAGR) of 21.40 % over the next five years. Though it is a small part of the healthcare department presently, it is one of the fastest-growing sectors in the overall healthcare market. The recent healthcare reforms have transformed the telemedicine market and also expanded the reach of these applications.
Increasing population, a growing number of chronic diseases, a lack of strict guidelines for the practice and improving access to healthcare services are the primary reasons for telemedicine growth in the Asia Pacific region. The shortage of doctors in rural areas is a crucial opportunity for the growth of this market in this region. Limited reimbursement facilities and a lack of consumer awareness hinder the growth of the telemedicine market in these countries.
In India, the current count of patients suffering from COVID-19 is around 1, 45,000. Where people find the provision of medical care is the need of the hour. Telemedicine is useful for managing diabetes and chronic disease patients during this lockdown period. Covid-19 has a significant effect on diabetes, cardiovascular and aged population where telemedicine helps these patients to have quality treatment procedure without visiting hospital or clinics. The local physicians and hospitals will drive the growth of the market in the future.
China recently using all the professional platforms, including expert’s information and telemedicine to connect with patients. Telemedicine provides guidance, consulting and training virtually. It is found to be beneficial for all types of patients in this pandemic. The Anti-epidemic Experts group in China found a telemedicine platform will play a key role in controlling the COVID-19. Increasing dieticians and local physicians using telemedicine will drive the market. Also, the active participation of the patients will drive the growth of the market.
In Japan, telemedicine is available since 2018, but the market shares have hit the highest mark due to the increasing number of COVID-19 cases. 1, 10,000 hospitals and clinics are using telemedicine to treat the patients. Increasing geriatric population is also one of the factors for the market to grow. Using telemedicine will be the only option for doctors and patients only when the condition is not so severe, this upcoming conditions will drive the market growth.
Services included GP and some consultation services provided by the medical specialists of mental health treatments, chronic diseases, pregnancy counselling and old-age care amenities. Emergencies of patients and the no availability of the doctors for the treatment will be challenging. Increasing patients count will drive the market growth in the forecast period. Covid-19 lockdowns and regulations on social distancing will make use of telemedicine essential will drive the growth shortly.
In South Korea, the government has recently allowed telemedicine on a trial basis. Doctors and nurses suggest virtual visits are the only way to treat patients, and it also reduces the excess spread of the COVID-19 in hospitals and clinics. The responses given by the people were huge, and they have found it safe these factors will promote the telemedicine market in South Korea.
This research report segmented and sub-segmented into the following categories:
Regionally, the Increasing population and rising incidence of chronic diseases will drive the market mainly in India and China. Japan is one of the few countries in the Asia Pacific region, providing universal healthcare insurance for all its citizens. Japan Medical Association has made various efforts to support physicians in Japan to ensure the provision of quality healthcare by offering insurance coverage for telehealth services under the universal healthcare insurance system.
Telemedicine players are focused on improving their technology offerings in terms of hardware, network, and software (i.e., enabling technologies). Healthcare companies are estimating the return on investment (ROI) and clinical outcomes of telemedicine technology. Tier I players are assessing opportunities in telemedicine in the form of consolidation. Insurance companies are taking a realistic look at the ability of telemedicine to support e-healthcare and considerably improve the bottom line.
Most promising companies in the Asia Pacific telemedicine market are AMD Global Telemedicine, CISCO Systems, Inc., Medtronic, Inc., GE Healthcare, Honeywell Lifesciences, Philips healthcare, McKesson Corp, Aerotel Medical Systems, CardioComm, Cerner Corporation, Apollo Hospitals (India) and Neosoft (China).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Type
5.1.1 By Technology
5.1.1.1 Hardware
5.1.1.2 Software
5.1.1.3 Telecommunications
5.1.2 By Service
5.1.2.1 Tele-Monitoring
5.1.2.2 Store-and-Forward
5.1.2.3 Real-Time Interactive
5.3 By Applications
5.3.1 Tele-Cardiology
5.3.2 Tele-Radiology
5.3.3 Tele-Pathology
5.3.4 Tele-Dermatology
5.3.5 Tele-Neurology
5.3.6 Emergency Care
5.3.7 Home Health
5.3.8 Others
5.4 By Delivery Mode
5.4.1 Web-based
5.4.2 Cloud-based
5.4.3 Others
5.5 By End User
5.5.1 Tele-Hospitals
5.5.2 Tele-Homes
5.5.3 Others
6.1 Introduction
6.2 China
6.3 India
6.4 Japan
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 GE Healthcare
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 AMD Telemedicine
8.3 CISCO Systems, Inc.
8.4 Medtronic, Inc.
8.5 Honeywell Lifesciences
8.6 Aerotel Medical Systems
8.7 Philips healthcare
8.8 McKesson Corp
8.9 Cerner Corporation
8.10 CardioComm
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
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