Analysis of The Telemedicine Market in Asia-Pacific
As identified through recent Frost & Sullivan surveys across the telehealth industry, access to care is a key issue across the world. The key telehealth markets include telemedicine, remote monitoring, mobile health (mHealth), and wearables. Telehealth enables anytime-anywhere access to healthcare services, thus serving a pressing market need.
Consumers as well as telehealth companies in developed countries agree that telemedicine is a core technology-based healthcare service that is in demand and is expected to generate high market returns in the near future. The major industry trends driving telemedicine adoption in North America include the availability of reimbursement, the adoption of standards and guidelines, technology improvements, and the increasing interest in specialized telemedicine consults.
The Asia-Pacific (APAC) scenario is similar to Western countries in that governments and healthcare providers have acknowledged the needs and the benefits of telemedicine in the region. However, the lack of education and training, along with virtually absent industry standards, has hampered market development across most part of the region. The key challenge is the lack of a sustainable business model because reimbursement mechanisms are under-developed and consumers are unable to pay.
About this report
Telemedicine is not a new concept in healthcare; it has been practiced in the form of pilots and charitable projects for over a decade across Asia-Pacific countries. However, recent advancements in information and communication technologies have led to a significant decrease in the costs associated with telemedicine, spurring a sudden market boom. In this study, Frost & Sullivan explores the revolution in technological, regulatory, and business models, which is driving telemedicine growth and adoption in the region.
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