The Asia Pacific wireless healthcare market size is projected to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing advancements in wireless communication technologies.
Wireless health is monitoring and treatment of illness with help of network service providers, technology developers, and enterprise data management communities. It can improve the quality of life of patients and doctor-patient efficiency. It is mainly used to treat the patients who are virtually connected to doctor by video conferencing and to the people where the healthcare facilities are not available.
The COVID-19 pandemic positively impacted the wireless healthcare market due to rapid growth in digital health and telehealth services, which is important for remote diagnosis, care, and consultation.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for wearable gadgets to continuously monitor patients is projected to boost the market growth in the coming years.
- Rising geriatric population is anticipated to the market growth during the forecast period.
- Growing burden of chronic conditions is estimated to spur the market growth in the coming years.
- Increasing use of fitness devices is anticipated to drive the market growth during the forecast period.
- Rising adoption of healthcare IT solutions is anticipated to the market growth during the forecast period.
- Increasing need for quality care is estimated to spur the market growth in the coming years.
- Growing need for upgrading the existing software is projected to boost the market growth in the coming years.
- Rising demand for availability of technologically advanced products and their use in health monitoring is projected to boost the market growth in the coming years.
- Growing Internet penetration is anticipated to the market growth during the forecast period.
- Issues related to cyber security and security is estimated to restrict the market growth.
- Lack of skilled IT professionals can restrict the market growth.
- Data security concerns is estimated to restrict the market growth.
- Increasing awareness among people about technology has led to new opportunities in the market.
Scope of the Report
The report on the Asia Pacific wireless healthcare market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Asia-pacific Wireless Healthcare Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Components (Hardware, Software, and Services) and Applications (Hospitals and Nursing Homes, Home Care, and Pharmaceuticals)
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Geography
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China, Japan, India, Australia, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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AT & T Inc.; Cisco System Inc.; Koninklijke Philips N.V.; Qualcomm Technologies Inc.; and Samsung Electronomics Co. Ltd.
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Asia Pacific Wireless Healthcare Market Segment Insights
Software segment to hold a significant market share
On the basis of components, the market is divided into hardware?, software?, and services. The hardware segment is anticipated to hold a key share of the market in the coming. However, the software segment is anticipated to expand at a rapid pace during the forecast period.
Pharmaceuticals segment is projected to expand at a considerable CAGR
Based on applications, the market is segregated into hospitals and nursing homes?, home care?, and pharmaceuticals. The hospitals and nursing homes segment is expected to represent a key share of the market in the upcoming years, as they can provide expert medical attention and provide round-the-clock care. On the other hand, the pharmaceuticals segment is anticipated to expand at a rapid pace during the forecast period owning to better health outcomes, low price, and intense growth and competition.
India is estimated to account a major market share
On the basis of regions, the Asia-pacific wireless healthcare market is classified as China, Japan, India, Australia, and Rest of Asia Pacific. Japan is expected to constitute a key share of the market during the projected period due to initiatives undertaken for the development of eHealth and clinical interoperability. However, the market in India is anticipated expand at a rapid pace during the forecast period owing to laws and standards that are being introduced for securing patient information, thereby protecting patient interests.
Segments
Segments Covered in the Report
The Asia-pacific wireless healthcare market has been segmented on the basis of
Components
- Hardware
- Software
- Services
Applications
- Hospitals and Nursing Homes
- Home Care
- Pharmaceuticals
Geography
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
Key Players
- AT & T Inc.
- Cisco System Inc.
- Koninklijke Philips N.V.
- Qualcomm Technologies Inc.
- Samsung Electronomics Co. Ltd
Competitive Landscape
Key players competing in the Asia-pacific wireless healthcare market includes AT & T Inc.; Cisco System Inc.; Koninklijke Philips N.V; Qualcomm Technologies Inc.; and Samsung Electronomics Co. Ltd.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
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