The Asia Pacific Telecare Market would witness market growth of 7.4% CAGR during the forecast period (2021-2027).
The growing use of internet networks, as well as smartphone innovation to improve worldwide connectivity, has made it easier to solve care delivery gaps and use telehealth services. The growing need for smartphones and tablets to track health and wellness, as well as to control the rising occurrence of chronic illnesses, is allowing more consumers to leverage more advanced ways of treatment and diagnostics. The increasing utilization of smartphones and other smart devices is considerably propelling the utilization of telecare services. Several healthcare practitioners and insurance companies are teaming up in order to develop strategies to encourage the use of telehealth apps and services. For instance, In Southeast Asia, Haldoc declared a ten-fold growth in active users by 2020.
The private players are gaining substantial prominence and finance in this region. There is a significant number of investments, which are being done by numerous market players as well as government authorities of this region, which are also expected to be used in order to extend the company's capabilities and make its digital health platform more accessible and affordable. in addition, the market is also estimated to observe a considerable demand for telecare services in various emerging economies like India and China in the next years due to rising developments and innovations across the telecommunications sector. Additionally, the healthcare market in India is being driven by a growing occurrence of lifestyle disorders, rising demand for cost-effective healthcare delivery solutions due to rising the emergence of telemedicine, technological advancements, rapid health insurance penetration, and government initiatives such as e-health, as well as tax benefits and incentives.
The China market dominated the Asia Pacific Telecare Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $467.7 million by 2027. The Japan market is estimated to witness a CAGR of 6.8% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 8.1% during (2021 - 2027).
Based on Product Type, the market is segmented into Activity Monitoring and Remote Medication Management. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Telecare Market is Projected to reach USD 5.5 Billion by 2027, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Pfizer, Inc., Sanofi S.A., Johnson & Johnson, AllScripts Healthcare Solutions, Inc., AT&T, Inc., Samsung Electronics Co., Ltd., Apple, Inc., Qualcomm, Inc., and Google LLC.
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