The Asia Pacific Telemedicine Market is estimated to grow from $6.13 billion in 2015 to $16.16 billion in 2020, with a compound annual growth rate (CAGR) of 21.40 % over the next five years.
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Though it is a small part of the healthcare department presently, it is one of the fastest growing sector in the overall healthcare market.
The recent healthcare reforms have transformed the telemedicine market and also expanded the reach of these applications.
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The rise in average age has resulted in elderly patients who need maximum healthcare; this is increasing the overall healthcare cost.
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The total number of healthcare professionals is not enough to meet the needs of the rising global population. With healthcare specialists spread across the globe, the teleconsultation–referrals–second opinion chain has extended significantly to various regions.
Use of telemedicine helps in advancing individual health with the assistance of electronic media. It also increases accessibility by dropping the distance barriers between the doctors and patients.
Increasing population, growing number of chronic diseases, lack of strict guidelines for the practice and improving access to healthcare services are the primary reasons for telemedicine growth in Asia Pacific region. Shortage of doctors in rural areas is a key opportunity for the growth of this market in this region.
limited reimbursement facilities and a lack of consumer awareness hinder the growth of the telemedicine market in these countries.
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The Asia Pacific market for telemedicine is segmented on the basis of Technology (Hardware, Software, Telecommunications), Service (Remote Patient Monitoring, Store-and-Forward, Real-Time Interactive), Applications (Tele-Cardiology, Tele-Pathology, Tele-Radiology, Tele-Dermatology, Tele-Neurology, Emergency Care, Home Health), Delivery mode (Web-based, Cloud-based) and End User (Tele Hospitals, Tele Homes).
Medical consultation services will be the regularly used form of telemedicine by doctors for increasing the outreach of their medical advice. The tele-monitoring segment will also enjoy an upward shift owing to the increasing diabetic and disabled population.
Asia Pacific Telemedicine Market Geographical Analysis
- South Korea
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Asia Pacific Telemedicine Market Leaders' Analysis
- GE Healthcare
- AMD Telemedicine
- CISCO Systems, Inc.
- Medtronic, Inc.
- Honeywell Lifesciences
- Aerotel Medical Systems
- Philips healthcare
- McKesson Corp
- Cerner Corporation
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