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Asia Pacific mHealth Market Size to Exceed USD 99.4 Bn by 2026

Author : Ronak Bora | Published Date : 2020-11-17 

The Asia-Pacific mHealth market is expected to observe impressive growth over the forecast time period due to the increasing prevalence of chronic diseases, especially among geriatric population. As per a report by the United Nations, several APAC countries including Australia, China, and Japan have a growing elderly population, which is anticipated to increase in number over the coming years. Consequently, with the increasing geriatric population, the number of people suffering from chronic neurological illnesses like  Alzheimer’s, Dementia has substantially increased, creating a need for effective health tracking solutions.

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Meanwhile, various initiatives undertaken by regional governments have also boosted the growth of mHealth industry in APAC. With rising government initiatives and investments, there has been rise in launch of new smartphones across APAC, this is likely to increase the adoption of mHealth services among users. Additionally, the growing trend of using smart wearable devices among patients and health-conscious population will greatly impact the market positively.

According to reports, the APAC mHealth market is expected to surpass a valuation of $99.4 billion by 2026.

Below are three key trends that are likely to majorly influence APAC mHealth market expansion over the coming years.

Rising adoption of smart wearable devices

Wearable devices segment is likely to witness lucrative growth of around 41.5% over the forthcoming time period. The projected growth can be ascribed to the increasing need for monitoring conditions such as blood pressure, and diabetes among others. As per the National Institute of Health, India and China are two of the world’s most populated nations, with nearly 150 million patients who are suffering from diabetes.

Due to the rising prevalence of diabetes, the need for daily health monitoring has significantly increased the demand for these wearable devices. In fact, the use of  smart wearable medical devices or smartphone-based medical devices have become essential tools in promoting the overall health.

Increasing use of mHealth services by physicians

In terms of end-use, physicians segment will witness substantial growth over the coming years. In 2019, the segment held a valuation of approximately $2,792.9 million. This growth is ascribed to growing use of mobile devices by physicians which is resulting into the transformation of clinical practices in various facets of healthcare across APAC. The use of mHealth technology significantly elevates access point-of-care tools in order to ensure enhanced patient outcomes with better decision making.

Moreover, populations residing in far off locations have also increased their access to various mHealth services owing to the increasing adoption of mHealth technologies by physicians. This is allowing physicians to effectively facilitate their services across remote locations with the help of technology.

Rising adoption of mHealth services in China

On the geographical front, China mHealth market, in 2019, accounted for a valuation of approximately $2.3 billion and is further projected to grow substantially over the forthcoming years. This anticipated growth is ascribed to the growing elderly population and increasing incidence of chronic disorders. Various initiatives undertaken by government mainly to expand mHealth services in China has substantially increased the number of mHealth users.

With the ongoing COVID-19 outbreak, the use of various mHealth devices and apps has substantially increased among consumers. In addition, increasing investments on digital healthcare with a well-developed IT infrastructure has further increased the adoption of mHealth facilities.

Samsung Healthcare Solutions, Johnson & Johnson, Omron Healthcare, Inc., Medtronic PLC, Cisco Systems Inc., Philips Healthcare and AT&T among many others are some of the key players operating in the Asia-Pacific mHealth market.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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