APAC Telemedicine Market

The Asia Pacific Telemedicine Market size 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.

The 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 developing 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 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 has a significant effect on diabetes, cardiovascular, and aged population where telemedicine helps these patients to 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 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 has been 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 patients. The rising 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 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 the treatment will be challenging. The increasing patient 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 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

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 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.

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).