Asia-Pacific Telehealth Market, By Type (Software, Systems, Hardware, Telecommunication) Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, On-Premise Delivery Mode) Application (General Consultation, Pathology, Cardiology, Surgery, Gynecology, Neurology, Radiology, Dermatology, Ophthalmology, Orthopedics, Others) End User (Hospital Telehealth, Physician Telehealth, Home Telehealth) – Industry Trends and Forecast to 2030.
Telehealth Market Analysis and Size
The growing consumer base for remote healthcare consultation, especially after the pandemic, is enhancing the market size. An increase in healthcare digitalization activities and multiple government initiatives in remote patient monitoring are anticipated to boost the market's growth in the upcoming years. The growing number of COVID-19 cases in Asia Pacific escalated the adoption of digital health platforms for remote healthcare services.
Data Bridge Market Research analyses a growth rate in the telehealth market in the forecast period 2023-2030. The expected CAGR of the telehealth market tends to be around 7.5% in the mentioned forecast period. The market was valued at USD 1,159.16 million in 2022 and will grow to USD 2,067.34 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Telehealth Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Software, Systems, Hardware, Telecommunication) Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, On-Premise Delivery Mode) Application (General Consultation, Pathology, Cardiology, Surgery, Gynecology, Neurology, Radiology, Dermatology, Ophthalmology, Orthopedics, Others) End User (Hospital Telehealth, Physician Telehealth, Home Telehealth)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Teladoc Health, Inc. (U.S.), Siemens (Germany), Cisco Systems, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), IBM (U.S.), Oracle (U.S.), Medtronic (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Tunstall Group (U.K.), American Well (U.S.), CareCloud, Inc. (U.S.), eClinicalWorks (U.S.), AMD Global Telemedicine (U.S.)
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Market Opportunities
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Market Definition
Telehealth is the wide use of digital information and communication technologies to avail health care services remotely and manage health care. Telehealth is helpful in observing and enhancing ongoing health issues, such as medication changes or other chronic health conditions. It is done mainly online with internet access on a computer, tablet, or smartphone.
Asia-Pacific Telehealth Market Dynamics
Drivers
- Rise in Healthcare Digitalization Activities and Government Initiatives
Increased healthcare digitalization activities and rising government initiatives in remote patient monitoring are anticipated to boost the market's growth over the upcoming years. For instance, in 2020, the Indian Government launched National Telemedicine Service or eSanjeevaniOPD, which will complete around 1.2 crore teleconsultations by 2021. In addition, growing promotion by the Government and non-government organizations for the increasing use of telehealth and remote patient monitoring services for long-term care services is also anticipated to enhance the market growth in the Asia-Pacific region. Thus, this factor increases the growth of the market.
- Growing Technological Advancements in Telehealth
Huge technological advancements associated with digital health consultation and telecommunication increased the market growth. For instance, the Chinese Government launched a "close contact detector" application that provides information about the person is suspected or confirmed of having the virus. Additionally, increasing initiatives by healthcare organizations to digitalize health systems have enhanced market growth.
Opportunities
- Increasing Growth in the Software Devices
The software component is expected to increase the market growth due to the growing availability of healthcare software and the huge development of software for health management. In addition, the increasing digitalization activities of healthcare institutions and the rising adoption of apps among patients, providers, and insurance payers are expected to accelerate market growth over the coming years. Thus, this factor boosts market growth.
- Increasing Strategic Collaborations and Acquisitions by Market Players
The growing rate of collaboration and acquisition activities by major market players and the increasing number of startups in the market are estimated to boost the market. For instance, Doctor Anywhere, a Singapore-based company, acquired one of the largest telemedicine platforms in Thailand, Doctor Raksa, in 2021. This platform helped over a million customers with services, such as electronic medical summaries, e-prescriptions, online Doctor and pharmacist consultations, and prescription refills. Thus, these kinds of acquisitions will increase market growth.
Restraints/Challenges
- Behavioral Hindrances Using a Remote Monitoring System
Doctors and patients often lack familiarity with many new practices and face difficulty in adopting new devices and giving up conventional practices. Aged people may also deny using telehealth and telemedicine services because of unfamiliarity with technology. Behavioral barriers impose significant barriers to telehealth and telemedicine adoption. Thus, all these factors hamper the growth of the market.
This telehealth market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the telehealth market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2020, Columbia Asia Hospital group launched a telehealth service that offers numerous services including Doctor through video call, medical advice and/or clinical management, and drug prescriptions.
- In 2020, IHH Healthcare was one of Asia's largest privately-owned healthcare groups. It recently launched telemedicine services in Singapore, Malaysia, Turkey, India, and Hong Kong. This initiative led patients to avail more convenient access to IHH's full suite of services, from consultation to doorstep delivery.
Asia-Pacific Telehealth Market Scope
The telehealth market is segmented on the basis of type, delivery mode, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Software
- Systems
- Hardware
- Telecommunication
Delivery Mode
- Cloud-Based Delivery Mode
- Web-Based Delivery Mode
- On-Premise Delivery Mode
Application
- General Consultation
- Pathology
- Cardiology
- Surgery
- Gynecology
- Neurology
- Radiology
- Dermatology
- Ophthalmology
- Orthopedics
- Others
End User
- Hospital Telehealth
- Physician Telehealth
- Home Telehealth
Telehealth Market Regional Analysis/Insights
The telehealth market is analyzed and market size insights and trends are provided by type, delivery mode, application and end user as referenced above.
The major countries covered in the telehealth market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China is expected to have the highest growth rate in the forecast period due to the growing geriatric population and increased integration of digital healthcare facilities with treatment providers. Additionally, the rise in virtual healthcare delivery platforms for electronic health records and patient therapy systems is also boosting the market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The telehealth market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for telehealth market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the telehealth market. The data is available for historic period 2011-2021.
Competitive Landscape and Asia-Pacific Telehealth Market Share Analysis
The telehealth market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to telehealth market
Key players operating in the telehealth market include:
- Teladoc Health, Inc. (U.S.)
- Siemens (Germany)
- Cisco Systems, Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- IBM (U.S.)
- Oracle (U.S.)
- Medtronic (Ireland)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Tunstall Group (United Kingdom)
- American Well (U.S.)
- CareCloud, Inc. (U.S.)
- eClinicalWorks (U.S.)
- AMD Global Telemedicine (U.S.)
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