Tuesday, 5 April 2016
Explosion in Homecare Helps mHealth Asia-Pacific Market See Double Digit Growth
Prevalence of chronic diseases and sudden increase in the number of aging population has fueled the growth of mobile health services in the Asia -Pacific region.
Imagine the benefits of being able to carry one of the most robust diagnostic device in your pocket. These medical tools can tell if a pregnant women’s fetus is growing healthily, whether an injured cop need immediate medication and more. Research analysts at Allied Market Research (AMR) tracking the share and size, growth, demands and trends in mobile health say these sounded like a science – fiction fantasy movie but nor any more. Thanks, to the latest discoveries like mobile phone based ultrasound equipment that enable medical professionals to carry out ultrasounds almost anywhere, anytime and share images through cellular network; healthcare initiatives by Apple’s Carekit or wellness program introduced by Software – AG, future of mHealth Asia-Pacific market looks bright.
Developing nations encounter rapid growth when it comes to the prevalence of chronic diseases. Asia -Pacific today faces continuous burden particularly from the communicable diseases. Thus, countries including India, Singapore, Thailand, Japan and China among others are favoring mobile health – the applications of mobile technologies including cellular devices to support clinical care and public health. They provide a perfect response to different kinds of disease burdens. Mobile technologies are that are made available in these countries play a vital part in the healthcare segments at individual, regional as well as community levels.
Rapid Growth Predictions for mHealth Asia-Pacific market
Tremendous increase in the use of smartphones would play a pivotal part in bringing about a dramatic shift in healthcare. Industry experts predict the mobile health industry in the region would develop at an impressive rate of over 32. 5 percent in the coming five to six years. Besides this, the race would be led by the continuous advancements in the mobile cellular networks. Other factors that would act as catalysts in this rally include the ability to spend on compatible smartphones and increasing awareness among patients using connected healthcare apps.
Today, solutions consisting of telehealth monitoring and tracking has leveraged the features of smartphones to connect to different medical equipment. This further enables medical practitioners to track their patient’s wellness in real time. It is viewed as a major leap towards both affordable and smarter healthcare services. Steady increase in the number of government programs and reforms are also seen supporting the sector. An AMR study shows developing countries including Indonesia, Malaysia, Singapore and India are busy redesigning and rethinking over their existing healthcare policies. Such initiatives have encouraged many new entrants and entrepreneurs to apply disruptive technology to respond to major medical challenges.
Singapore, for instance, has been continuously offering a framework for new entrants to develop and test advanced solutions. Other nations such as Indonesia and Malaysia are keen at opening up their market to international healthcare providers to offer effective cross -vendor medical solutions.
Home Healthcare Pushes to mHealth Asia-Pacific Market Too Far
Asian healthcare device industry alone is growing rapidly and is likely to cross the $ 14.5 billion mark by 2017. Ongoing technology advancements has enhanced the performance of the home healthcare industry in Asia. Thus, information technology would act as a catalyst in addressing the several unanswered medical requirements of countries in the region. There are speculations that mobile healthcare service sector alone would be over $7.5 bn by 2018, with diagnostic services as well as telemonitoring occupying a major market share and size. China has finally emerged as the promising user for mHealth service in Asia. Japan is a second largest market and its revenue is expected to cross the $2.5 bn in sales by the same year. Ranking third in Asia, India is likely to garner more than $1 bn by 2018.
Eyeing the major developments in the sector in Asia, Allied Market Research has published a report titled “mHealth Asia-Pacific Market - Opportunities and Forecasts, 2014 – 2020.” According to the report the sector had generated about $2.3 bn in 2014. The study covers statistics on business imperatives such as growth rate, share and size and trends. Researchers applies both qualitative and quantitative techniques to explore the business performance across different countries in Asia -Pacific. Research further highlights that the sector would register a CAGR of 35 percent between 2015 – 2020.