Healthcare Information Technology Market in Asia Pacific to surpass USD 119.5 Bn by 2026

Healthcare information technology has emerged as a rapidly growing segment in Asia Pacific offering improved quality of life and affordable patient care solutions. The healthcare IT domain is likely to witness robust growth in the coming times due to its various benefits like constant data tracking and management of large volumes of patient data.

Rising awareness among the population with respect to enhanced accessibility to internet services will lead to an increase in the use and demand for healthcare IT services, especially in the developing regions like Asia Pacific where the healthcare system is rapidly evolving. Moreover, the market players that are involved in the launch of innovative products and services related to healthcare IT have also supported the growth in the industry.

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APAC healthcare IT market size will reach USD 119.8 billion by 2026. The surging need to offer effective patient care in remote regions has supported an increase in investments by many leading market players. Additionally, the healthcare IT experts in the region are highly investing in start-ups such as The Hello Health Group.

This group has more than 35 million users on the consumer health platform and offers necessary information related to diseases control and prevention. The governments in APAC are involved in extending strong funding to bolster the development of new hospitals that are combined with software tools to provide efficient patient care.

Concerning the type of solution, radiology information system sector was valued at more than USD 913 million in the year 2019 in APAC. The growth in the segment is due to the increasing need for patient data management and the rise in the geriatric patient population that suffers from chronic illnesses. Moreover, the need for cost-effective healthcare IT system and the use of cloud-led technology has supported the use and demand for radiology IT systems.

Heavy investments have been made to enhance the healthcare information technology market which has subsequently led to the rise in number of users adopting radiology information systems. Moreover, across APAC, the growing cases of cyber-attacks have led to the use of RIS. In addition to this, the region is emerging as a hub for outsourcing services with the growing awareness related to workflow management, driving the number of users.

With respect to the end-use, the healthcare information technology market is classified into healthcare providers and healthcare payers. In the year 2019, healthcare providers segment held the maximum market share of healthcare information technology market in Asia Pacific and was valued at USD 24,068 million. The huge growth in the segment is due to the provisions offered by the healthcare information domain like remote patient monitoring and healthcare analytics.

Moreover, a large number of healthcare providers are using healthcare IT services to maintain the record of the patients and to minimize medical errors further offering suitable treatment. The use of healthcare IT services has also enhanced the work-life balance of medical service providers.

Regionally speaking, Japan healthcare information technology market has witnessed significant growth over the years and was valued at USD 12,086 million in the year 2019. The huge growth in the healthcare information technology market is due to the aging population leading to a rise in the use of healthcare analytics to manage large volumes of data.

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High geriatric population along with the need for advanced and targeted healthcare services has led to the demand for healthcare IT services. Technologically advanced healthcare IT in Japan is steering the number of users of healthcare IT services.

Asia Pacific healthcare information technology market is bestowed with many prominent companies that are actively aiming at encouraging the adoption of advanced technologies to the healthcare industry, simplifying tasks and ensuring reliability. Few of the many market players include McKesson Corporation, Epic Systems Corporation, Siemens Healthineers, Allscripts Healthcare Solutions, Inc., and IBM Corporation.

Table of Contents (ToC) of the report:

Chapter 1.    Methodology

1.1.   Methodology

1.2.   Market definition

1.3.   Forecast parameters

1.4.   Data sources

1.4.1.  Secondary

1.4.1.1.   Paid sources

1.4.1.2.   Unpaid sources

1.4.2.  Primary

Chapter 2.    Executive Summary

2.1.   Asia Pacific healthcare information technology market 3600 synopsis, 2015 – 2026

2.1.1.  Country trends

2.1.2.  Solution trends

2.1.3.  End-use trends

Chapter 3.    Asia Pacific Healthcare Information Technology Market Insights

3.1.   Industry segmentation

3.2.   Industry landscape, 2015 – 2026

3.3.   Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.   Rising penetration of smartphones and internet users

3.3.1.2.      Growing geriatric population prone to chronic diseases

3.3.1.3.      Increasing adoption of smart wearable devices

3.3.2.  Industry pitfalls & challenges

3.3.2.1.   Security and privacy issues

3.4.   COVID-19 impact analysis

3.5.   Technology landscape

3.6.   Porter’s analysis

3.7.   Competitive landscape, 2019

3.7.1.   Strategy dashboard

3.8.   PEST analysis

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