APAC Telemedicine Market

APAC Telemedicine Market Size (2022 to 2027)

The telemedicine market in the Asia-Pacific region is estimated to grow from USD 10.33 billion in 2022 to USD 27.24 billion by 2027, with a compound annual growth rate (CAGR) of 21.40% during the forecast period. Though it is a small part of the healthcare department presently, it is one of the fastest-growing sectors in the overall healthcare market. In addition, the recent healthcare reforms have transformed the telemedicine market and expanded the reach of these applications.

MARKET DRIVERS:

The incidence of chronic diseases is significantly growing in the Asia-Pacific region. Chronic diseases affect people's lives by declining the quality of life, impaired mobility, and increasing mortality rate. Telemedicine includes phone calls and video calls for the interaction between the healthcare provider and the patients. Nearly half of the people in Asia suffer from chronic diseases such as diabetes, cancer, and cardiovascular diseases. Some people suffering from chronic diseases cannot move from one place to another for primary treatment. These people use telemedicine from any place where there are living. Telemedicine for hypertension and rheumatoid arthritis provides the best treatment for patients. Therefore, the growing number of people suffering from chronic diseases in the APAC region is anticipated to fuel the growth of the telemedicine market in this region.

The growing interest of people and increasing awareness of remote consultation among the APAC population are further propelling the telemedicine market in the Asia-Pacific region. Nowadays, most people are using telemedicine for their health check-ups. Due to the increasing older population in this region, most people of this age group are using telemedicine to reduce the transport burden on the person. They can also make appointments for doctor consultations at their convenient time. This telemedicine is also used for people who are suffering from a disability. By using this telemedicine, these disabled people won't depend on a third person for doctor consultation for treating their health issues.

Increased internet usage and smartphones are estimated to favor the market growth during the forecast period. Smartphone users are increases over the last ten years. People also use these smartphones for doctor consultations and for tracking their health by using some apps installed on their phones. Additionally, areas with high internet access made it easy to use this telemedicine in their area. Every person, including older people, also uses these smartphones and internet access to their phone which drives the market forward.

The recent Covid-19 pandemic and growing incidence of infectious diseases are expected to promote the market in this region. The Covid-19 pandemic has forced most healthcare providers to move to telemedicine for patient care. As a result, most people and healthcare providers are using telemedicine to reduce the spread of viruses from person to person, which is expected to favor the market during the forecast period.

MARKET RESTRAINTS:

Factors such as lack of internet in some areas of Asia-Pacific, high costs associated with remote monitoring devices, and increasing healthcare fraud and data security issues are restraining market growth. In addition, the lack of usage of telemedicine among uneducated and older people due to unfamiliarity with the technology also hampers the growth of the APAC telemedicine market.

COVID-19 impact on the APAC telemedicine market:

In India, the COVID-19 incidence is very high. People find the provision of medical care is the need of the hour. Telemedicine helps manage diabetes and chronic disease patients during this lockdown period. Covid-19 significantly affects diabetes, cardiovascular, and aged populations; telemedicine helps patients have quality treatment procedures without visiting hospitals or clinics. The local physicians and hospitals will drive the market's growth in the future.

China recently used all the professional platforms, including expert information and telemedicine, to connect with patients. Telemedicine provides guidance, consulting, and training virtually. It is 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 COVID-19. Increasing dieticians and local physicians using telemedicine will drive the market. Also, the patient's active participation will drive the market's growth.  

In Japan, telemedicine has been available since 2018, but the occupancy of the Japanese market share in the APAC market has spiked due to the increasing number of COVID-19 cases. 1,10,000 hospitals and clinics are using telemedicine to treat patients. The rising geriatric population is also one of the factors for the market to grow. Telemedicine will be the only option for doctors and patients only when the condition is not severe; these upcoming conditions are expected to boost the market growth.  

Services included GP and some consultation services provided by the medical specialists of mental health treatments, chronic diseases, pregnancy counseling, and old-age care amenities. Emergencies of patients and the lack of doctors for treatment will be challenging. The increasing patient count will drive market growth in the forecast period. Covid-19 lockdowns and regulations on social distancing will make use of telemedicine essential and will drive 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, reducing the excess spread of COVID-19 in hospitals and clinics. The responses the people gave were huge, and they found it safe that these factors would promote the telemedicine market in South Korea.   

This research report on the APAC telemedicine market has been segmented and sub-segmented into the following categories:

By Type: 

• Technology
  • Hardware
  • Software
  • Telecommunications
• Service
  • Remote Patient Monitoring
  • Store-and-Forward
  • Real-Time Interactive

By Application: 

• Tele-Cardiology
• Tele-Radiology
• Tele-Pathology
• Tele-Dermatology
• Tele-Neurology
• Emergency Care
• Home Health
• Others

By Delivery Mode: 

• Web-Based
• Cloud-Based
• Others

By End-Users: 

• Tele-Hospitals
• Tele-Homes
• Others

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest Of APAC

The APAC region accounted for a substantial share of the global telemedicine market in 2021 and is anticipated to showcase a healthy CAGR during the forecast period. The increasing population and rising incidence of chronic diseases will drive the market mainly in India and China.

India dominated the APAC market in 2021 owing to increased digitization. This telemedicine is carried out in India through a service called eSanjeevani. Due to the presence of more rural areas in this region, where transportation systems limit regular access to hospitals. At present, Narayana Hrudayalaya, Apollo Telemedicine Enterprises, and Asia Telemedicine are some of India's most significant private-sector telemedicine players.

China had a healthy share in the APAC market in 2021. Increasing usage of remote patient monitoring devices in this region drives the market forward. In China, the government has based on telemedicine to overcome the gaps in access to medical care between urban and rural areas. In addition, the government has implemented many regulatory policies for telemedicine safety and secure usage in this region.

Japan is one of the few countries in the Asia Pacific region providing universal healthcare insurance for all citizens. Japan Medical Association has made various efforts to support physicians in Japan to ensure the provision of quality healthcare by offering coverage for telehealth services under the universal healthcare insurance system. Recently, Japan has started using this telemedicine technology in their region to improve the patient's lifestyle and lessen infection spread. Japan has universal health coverage and is one of the countries with the highest life expectancy in the world. Recently most of the people in this region have been seeking telemedicine. Many awareness programs were also conducted in Japan to increase telemedicine use, which forward the market growth during the forecast period.

KEY MARKET PLAYERS:

Companies playing a promising role in the Asia Pacific telemedicine market profiled in this report 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).