Overview:

In the year 2018, Asia-Pacific Telemedicine Market was valued at USD 8.51 Billion. By the year 2023, it is expected to reach USD 22.45 Billion at pace of 21.40% CAGR.

Telemedicine is a telecommunication technology for providing remote healthcare services through real-time and two-way communication between the healthcare provider and patient. This technology helps to communicate between medical staff and patients and it is also useful to transmit the health and medical information. Telemedicine plays an important role in saving human lives, during emergencies and critical situations.

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Underlying Causes

The growth for Asia-Pacific Telemedicine Market is driven due to factors like rising prevalence of chronic diseases, growing geriatric population, increasing the adoption of telemedicine at a hospital and clinic, increasing healthcare expenditures. In addition, rising funds by government for the development of telemedicine devices, technological advancement in medical device and services, introduction of advanced telemedicine devices is expected to drive the market growth. However, unfavorable reimbursement policies, and lack of consumer awareness is expected to hinder the growth rate for Asia-Pacific telemedicine market during the forecast period.

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Geographic Segmentation:

Based on geography the Asia-Pacific Telemedicine Market has been primarily divided into China, India, South Korea, Japan and Australia. India and China holds the largest market share in the Asia-Pacific telemedicine market followed by Japan due to increasing population, rising chronic diseases, and improving healthcare facilities are the driving factors in this region.

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Key Players:

Leading companies for Asia-Pacific Telemedicine Market are AMD Global Telemedicine, Medtronic, Inc., McKesson Corp, GE Healthcare (U.K.), CISCO Systems, Inc., Aerotel Medical Systems, Honeywell Lifesciences, Cerner Corporation, Philips healthcare, CardioComm, 3M, Robert Bosch Healthcare, Apollo Hospitals (India), Neosoft (China), Polycom Corp., F. Hoffmann-La Roche Ltd., SnapMD (U.S.), InTouch Technologies, Inc., OBS Medical Ltd., Siemens Healthcare, LifeWatch AG, Agfa HealthCare NV, Biotelemetry, Inc., Allscripts Healthcare Solutions.

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