The digital health market size in the APAC was worth USD 11.2 billion in 2020 and is estimated to showcase a CAGR of 29.2% during the forecast period.
Digital healthcare uses information technology services and processes to deliver healthcare programs to accelerate better health development. In the current COVID-19 pandemic situation, digital healthcare proved to be an effective solution. In the APAC, an increasing number of coronavirus patients and strict government regulations drive the APAC digital healthcare market.
The growing use of digital solutions to remotely ensure the patients' health during the Covid-19 outbreak propels the digital healthcare market's growth in the APAC region. Additionally, the rise in the number of electronic devices like smartphones with access to the internet and new lifestyle-related health issues enhances this market's demand. The use of numerous healthcare apps by China and India's government contributes to expanding the APAC digital healthcare market.
Many surgeons and practitioners are reluctant to adopt a digital healthcare platform due to security concerns about patient data. In addition, the Indian healthcare system lacks connectivity and continuity for the development of the digital healthcare system. The high cost of service and maintenance and lack of technical knowledge among the people about digital healthcare solutions are substantial challenges for the APAC digital healthcare market.
Impact of COVID-19 on the APAC digital health market:
COVID-19 has bolstered the APAC digital health market; people could not go to the gyms due to the lockdown, which forced them to stay at home during the pandemic. In addition, the lockdown helped to launch new apps or popularize established ones in the fitness sector. Therefore, the COVID-19 pandemic had a positive influence on the digital health market in the APAC region.
Doctors worldwide are using telemedicine as a new old means to reach their patients, owing to the unrestrained growth of COVID-19 and granting of stay-at-home orders. 64% of healthcare workers in leading countries such as Singapore use some digital to monitor their patients. In China and Singapore, where telemedicine has already gained hold, COVID-19 is expected to enhance the usage of the technology. The COVID-19 pandemic has a favorable impact on online pharmacies and markets associated with healthcare information technology.
In response to COVID-19, Japan has used experiential learning to promote the benefits of digital. In addition, it focuses on telemedicine and clinical trials as instruments for reducing infections rates and planning future preventative measures. In Japan, it has been discovered that switching to digital health reduces the diagnostic mistake rate, which is believed to be around 30%.
India’s fast adoption of digital was highlighted during the COVID-19. Other digital health solutions, such as CureFit, Medlife, PharmEasy, are gaining traction at this time. Following the debut of Aarogya Setu, a smartphone app for contact tracing, syndromic mapping, and self-assessment.
This research report on the APAC digital health market has been segmented and sub-segmented into the following categories:
In 2020, the Chinese digital health market had immense growth, and due to the high adoption of online hospitals during the Covid-19 outbreak, digital consumption has significantly increased. More than 1000 doctors have started online consultancy during this pandemic. Also, Alibaba's online hospitals have 1.6 million requests from people to create online services in 2020.
The digital health market in India has been gaining momentum over the last few years, and the number of participants in the Indian market is significantly growing. Also, the memorandum of understanding is proliferating to train physicians and substantially influences the market's growth. During the Covid-19 outbreak, several registered medical practitioners were providing telemedicine, as per Indian guidelines. About 76% of healthcare professionals in the country are using digital health records in their practices. 13.69 Cr Indians use the Aarogya Setu app according to Indian council medical research, which is predicted to fuel the demand of the digital healthcare market.
The Japanese digital health market was estimated at 3.8 billion USD in 2020. The rise in cases of hypertension and applications towards mobile health and telehealth surge the digital health care market in this region: growing coronary heart diseases and an increase in the aging population drive this market further.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the APAC digital health market profiled in this report are Apple Inc., AirStrip Technologies, Google Inc., Orange, Allscripts Healthcare, LLC, Mckesson Corporation, Athenahealth Inc., At&T Inc., Biotelemetry, Inc., Cerner Corporation, Cisco Systems, Inc., Koninklijke Philips Nv, Eclinicalworks, Ihealth Lab, Inc. and General Electric Company.
RECENT MARKET DEVELOPMENTS:
In 2020, Japanese start-ups were enhancing the deployment of telemedicine and clinical trials to overcome the Covid-19 pandemic and plan for future disease outbreaks. HIMSS and Health 2.0 conference mainly focuses on launching AR & AI in Japan to boost the digital healthcare market.
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