Press release
Asia-Pacific Telehealth Market to Surpass $176.63 Billion by 2030
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According to Meticulous Research®, the Asia-Pacific telehealth market is poised to achieve a valuation of $176.63 billion by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 24.2% during the forecast period. This projection underscores the market's promising outlook, driven by factors such as the scarcity of healthcare professionals, supportive government policies, a burgeoning geriatric population grappling with chronic diseases, the ongoing wave of digitalization, and a growing awareness of the manifold advantages offered by telehealth solutions.
The report identifies key growth opportunities within the Asia-Pacific telehealth market, including advancements in telerobots, the integration of artificial intelligence, and the utilization of virtual assistants. These innovations are anticipated to catalyze market expansion by enhancing service delivery and patient care. Nevertheless, the market faces challenges, including technical complexities, security breaches, regulatory obstacles, and concerns related to telehealth examinations, patient privacy, and confidentiality, which may temper growth to some extent.
Prominent players in the Asia-Pacific telehealth market, as profiled in the report, include Aerotel Medical Systems (1998) Ltd. (Israel), Cerner Corporation (U.S.), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), AMD Global Telemedicine, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Doctor On Demand, Inc. (U.S.), MDlive Inc. (U.S.), Siemens Healthineers AG (Germany), Teladoc Health, Inc. (U.S.), Zipnosis, Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Tunstall Group (U.K.), ClearArch, Inc. (U.S.), and Resideo Technologies Inc. (U.S.).
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Asia-Pacific Telehealth Market: A Glimpse into the Future
The Asia-Pacific telehealth market is meticulously segmented based on Components (Services, Hardware, Software), Applications (Psychiatry, Radiology, Cardiology, Primary Care, Dermatology, Remote ICU, Other Applications), End Users (Healthcare Providers, Patients, Healthcare Payers, Other End Users), and Country. The report delves into the competitive landscape, evaluating industry competitors and analyzing their market share at the country level.
Key findings from the report reveal that, in 2023, the services segment is poised to dominate the Asia-Pacific telehealth market, fueled by increased adoption of teleconsultation and telemonitoring. This trend is attributed to the rising geriatric population, a surge in chronic diseases, and heightened awareness and acceptance of telehealth solutions. The services segment is anticipated to thrive on factors such as enhanced access to specialist care, cost reduction, improved health outcomes, heightened healthcare efficiencies, and increased satisfaction among both doctors and patients.
Furthermore, the psychiatry segment is forecasted to hold the largest market share in 2023 within the applications category. The rapid acceptance of telepsychiatry as a tool for enhancing access, quality, and efficiency in mental health treatment, coupled with the shortage of primary psychiatric care and the impact of the COVID-19 pandemic, has fueled the adoption of telepsychiatry services.
In the realm of end users, the healthcare providers segment is anticipated to command the largest share in 2023. This dominance is attributed to the growing demand for convenient care in conjunction with the shortage of medical professionals.
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Among the countries analyzed, China is expected to lead the Asia-Pacific telehealth market in 2023, driven by the high adoption of new imaging technologies, improving healthcare infrastructure, and a focused effort on healthcare digitalization. China's digital healthcare landscape stands out, with over 90% of the country's health professionals embracing digital health tools, including Electronic Health Records (EHRs) and telehealth services, propelled by significant government involvement.
About Meticulous Research®
Meticulous Research® is a leading global market research company providing comprehensive market intelligence reports, custom research, and consulting services to clients from various industries. With a diligent and precise approach, we provide qualitative and quantitative analysis of market trends, growth projections, competitive landscapes, and strategic recommendations. Our research team is committed to delivering high-quality market insights to help organizations make informed decisions.
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