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The Asia Pacific (APAC) - Wireless Healthcare Market size is estimated to grow at a CAGR of 22.91% between 2022 and 2027. The market size is forecast to increase by USD 41.13 billion. The growth of the market depends on several factors, including the increasing adoption of wearables, the growing ageing population and the growing demand for remote health monitoring. The use of wireless technology in traditional healthcare applications such as disease diagnosis, patient monitoring, and treatment, as well as other tools that might assist in aiding people in improving their health and well-being, is known as wireless healthcare.
This APAC wireless healthcare market report extensively covers market segmentation by component (hardware, software, and services) and Application (healthcare amenities, home care, pharmaceuticals, and others). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing adoption of wearables is notably driving the market growth. Technological advancements have resulted in the development of healthcare devices with improved characteristics. Some of the advanced healthcare devices that are currently available across the world market, including APAC - wireless healthcare market, which can be used in wireless healthcare applications are biosensors, smartwatches, wearable electrocardiogram (ECG) monitors, wearable, hands-free wristbands, activity trackers, glucose monitors, smart diapers, bionic suits, implantable devices, digital tattoos, and pedometers.
In addition, these smart wearable devices help patients monitor and track their health on a routine basis. Also, people can track their body temperature, heart rate, calorie intake levels and values, sleep statistics, and glucose levels to prevent several health issues, such as obesity and heart disease which creates an Asia Pacific - wireless healthcare market demand. The rising number of health-conscious people in the region is anticipated to boost the demand for such wearables, which, in turn, will fuel the growth of the wireless healthcare market in APAC during the forecast period.
The growing use of IoT in healthcare is an emerging trend shaping the market growth. The use of IoT devices helps bridge the gap between physical and digital data sources by providing the monitoring of patients in real time in the healthcare industry. The rising number of endeavours launched by governments across the region to facilitate the use of IT in the healthcare sector, the need to lower healthcare costs, and the increasing penetration of the internet along with easy access availability are propelling the emergence of the IoT in the healthcare industry in APAC and which helps in the Asia Pacific - wireless healthcare market expansion.
Moreover, innovations and technological advancements, such as wearable medical devices, have enhanced the quality of the APAC - wireless healthcare market. Therefore, the rising demand for IoT-connected systems to enhance healthcare services is anticipated to fuel the growth of the wireless healthcare market in the region during the forecast period.
Data privacy and security issues a significant challenges hindering the market growth. The upsurge in the risks of cyberattacks in the healthcare industry has raised significant problems over privacy and data protection among players in the industry, which include hospitals, clinics, and insurance companies. Healthcare organizational information and patient data have become vulnerable to cyberattacks with the integration of data-generating devices with healthcare systems and the growing availability of data from health insurance companies and hospitals at a centralized location. In addition, with telecom network operators having easy access to the information generated by wireless healthcare solutions as well as insurance companies, end-users, including healthcare facilities and patients, are concerned about their privacy and security despite the legal frameworks to protect them.
Consequently, The vulnerability of patient data to such attacks has become a major concern among healthcare facilities due to the rising instances of cyberattacks on healthcare organizations which may have a negative impact on the Asia Pacific (APAC) - wireless healthcare market growth. Therefore, the inability of healthcare facilities to assure the privacy and safety of the large amounts of data that are generated is anticipated to impede the growth of the wireless healthcare market in APAC during the forecast period.
The market share growth by the hardware segment will be significant during the forecast period. In APAC, the hardware segment accounted for the largest market share in the Asia Pacific (APAC) - wireless healthcare market in 2022. For hospitals and other healthcare facilities to streamline their workflows, they need to store, process, and manage patient- and business-related data efficiently.
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The hardware segment was the largest and was valued at USD 4.18 billion in 2017. To store patient-related and hospital data securely, hospitals and physicians are investing in servers to deploy EHR/electronic medical record (EMR) systems and storage and backup devices. Healthcare facilities and providers are also expected to boost their spending on network infrastructure and communication devices with the trend of remote healthcare, telehealth, and mobile health gaining traction. This will guarantee the provision of uninterrupted and good quality healthcare services and have a positive impact on the APAC - wireless healthcare market growth. Such factors will fuel the growth of the hardware segment of the wireless healthcare market in APAC during the forecast period.
The healthcare amenities segment accounted for the largest market share in the wireless healthcare market in APAC in 2022. Hospitals, clinics, ambulatory surgical centres (ASCs), and nursing home centres are considered healthcare amenities. To obtain the medical history of patients more quickly, healthcare providers use EHRs during emergencies. Having access to the blood type and allergy information of patients can be vital when considering the treatment of gravely wounded or ill people in emergency cases. Consequently, the integration of IT in healthcare has several advantages, which include enhanced quality of care, accuracy, reduced costs, and seamless collaboration. Therefore, the rising enactment of wireless healthcare in different healthcare amenities, the rising preference for hospital visits among patients, and the convenience offered by wireless healthcare solutions will drive the growth of the Asia Pacific (APAC) - wireless healthcare market through the healthcare amenities segment during the forecast period.
The APAC Wireless Healthcare Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
APAC Wireless Healthcare Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agfa Gevaert NV - The company offers wireless healthcare solutions such as MUSICA patented fractional multiscale processing technology which provides excellent image quality compared to standard image processing and care.
Baxter International Inc. - The company offers wireless healthcare solutions that connect IOT medical devices to collect and analyze patient data in real-time.
Canon Inc. - The company offers wireless healthcare solutions which is empowered by artificial intelligence technology to the entire process of CT scanning and imaging, bringing CT imaging into the field of intelligent perception imaging.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The APAC wireless healthcare market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
APAC Wireless Healthcare MarketScope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 22.91% |
Market growth 2023-2027 |
USD 41.13 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
22.45 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agfa Gevaert NV, Baxter International Inc., Bio Rad Laboratories Inc., Canon Inc., Carestream Health Inc., F. Hoffmann La Roche Ltd., FUJIFILM Corp., General Electric Co., Koninklijke Philips N.V., Masimo Corp., Medtronic Plc, Mindray Bio medical Electronics Co. Ltd., Nihon Kohden Corp., Oracle Corp., Samsung Electronics Co. Ltd., Shimadzu Corp., Siemens AG, Stryker Corp., Terumo Corp., and Zebra Technologies Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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