Asia Pacific IoT Healthcare Market is segmented By Component (Medical Devices, Systems and Software, and Services), By Application (Telemedicine, Clinical Operations and workflow management, Inpatient Monitoring, Connected Imaging, Medication Management, Others), By End User (Hospitals and Clinics, Clinical Research Organizations, Research and Diagnostic Laboratories), and By Country (India, China, Japan, South Korea, Rest of Asia Pacific) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Asia Pacific IoT Healthcare Market Overview
The Asia Pacific IoT Healthcare Market is expected to grow at a CAGR of 22.28% during the forecast period 2023-2030.
IoT (Internet of Things) in healthcare refers to the use of connected devices and sensors to gather and transmit data among healthcare practitioners, patients, and medical devices. The objective is to improve healthcare delivery while also increasing patient participation and satisfaction and improving overall results. IoT monitors patient health in real-time in the healthcare industry, assisting in the improvement of telehealth infrastructure and bridging the gap between digital and physical data.
IoT helps healthcare providers improve patient care, manage personnel, and comply with laws. IoT-connected devices have allowed remote monitoring in the healthcare business. The Internet of Things (IoT) is redefining healthcare by altering how gadgets and people interact while giving healthcare solutions. IoT applications in healthcare benefit patients, families, physicians, hospitals, and insurance companies.
Asia Pacific IoT Healthcare Market Scope
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Metrics |
Details |
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CAGR |
22.28% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
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Segments Covered |
Component, Application, End-User, and Country |
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Countries Covered |
India, China, Japan, South Korea, Rest of Asia Pacific |
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Largest Country |
China |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Asia Pacific IoT Healthcare Market Dynamics
The increasing usage of telehealth and telemedicine among the APAC population supports the rapid growth of the IoT Healthcare market in this region. The healthcare industry has seen an upsurge in demand for digital technologies, particularly during the COVID-19 epidemic. Telehealth enables remote treatment between healthcare practitioners and patients through audio or video contact, fueling industry development.
Moreover, the Asia Pacific region's expanding senior population of around 630 million has contributed to the need for remote patient monitoring equipment. These devices use IoT technology to securely transfer health data between healthcare practitioners and patients, allowing for better health monitoring and management.
Growth Factors
The rising demand for medical devices with integrated IoT technology at affordable rates drives the APAC IoT healthcare market's development pace. Manufacturers have prioritized the improvement of medical services and equipment to improve hospital patient monitoring, medical imaging management, and workflow, and this trend is expected to accelerate in the coming years due to increased R&D investments and funding by medical companies. Furthermore, the market has been driven ahead by an increase in product approvals and the introduction of novel applications.
Asia Pacific IoT Healthcare Market Segmentation Analysis
The Asia Pacific IoT healthcare market is segmented by component, application, and end user.
As a consequence of the rising popularity of telemedicine, the market is likely to rise steadily throughout the forecast period. Several factors contribute to this increase, including increased demand for remote healthcare services, accelerated telemedicine adoption as a result of the COVID-19 pandemic, increased need for remote patient monitoring and chronic disease management, and the potential cost savings and operational efficiency associated with telemedicine implementation.
Many companies and individuals are adopting this telemedicine platform, and numerous small firms are offering telemedicine products or services. For example, Malaysian health technology firm Qmed Asia launched its Qmed GO telehealth kiosk in August 2022. This kiosk functions as a "mini-clinic," providing remote internet health consultations and diagnoses done by licensed general practitioners.
Qmed GO comes with cloud-connected medical IoT devices that can monitor up to 16 key parameters in real-time. These devices' data may be viewed through the Qmed patient app and the employer reference dashboard. Qmed GO also gives you safe access to your medical information and prescription delivery services. As a result of the aforementioned reasons, the telemedicine segment is predicted to develop throughout the forecast period.
Asia Pacific IoT Healthcare Market Geographical Share
By region, the Asia Pacific IoT Healthcare market is segmented into India, China, Japan, South Korea, and Rest of Asia Pacific.
China led the APAC market in 2022 and is anticipated to showcase a notable CAGR during the forecast period. Data collecting using IoT technology has aided in the review of patient data in a way that promotes safety. During the pandemic, sensor technology was critical, with sensors being used to assess bodily states without physical touch, such as the use of infrared thermometers to gauge temperature. Given the introduction of novel coronavirus strains, adopting IoT-based sensor technologies is critical for avoiding or limiting virus transmission in the population. This trend is likely to fuel market expansion during the projected period.
India and Japan are expected to take a sizable share of the APAC market during the projected period.
Asia Pacific IoT Healthcare Market Companies
Key players are SAP SE, Koninklijke Philips N.V., CISCO Systems Inc., IBM Corporation, GE Healthcare, Microsoft, Qualcomm Life, Inc., Honeywell Life Care Solutions, Diabetizer Gmbh & Co. Kg, Proteus Digital Health, Adheretech Inc., Apple Inc.
