Care Delivery Transformation through Telehealth Provides Growth Opportunities in Asia-Pacific
Countries in Asia-Pacific Progress from Home Monitoring to Smart Cities, says Frost & Sullivan
KUALA LUMPUR, Malaysia, July 13, 2016 /PRNewswire/ -- Increased usage of mobile and broadband internet across the Asia-Pacific region has propelled the adoption of new care delivery models to address healthcare industry challenges like rising costs, increasing incidence of chronic and infectious diseases, and ageing populations. Telehealth is helping to optimize costs, improve resource efficiency in primary care and aged care, drive medical tourism, and engage the young and healthy population in early intervention, prevention and wellness.
New analysis from Frost & Sullivan, Asia-Pacific Telehealth Outlook 2016-2020 (http://www.frost.com/sublib/display-report.do?id=P8A4-01-00-00-00&src=PR), finds that the Asia-Pacific Telehealth market, which includes telemedicine, remote patient monitoring (RPM) and mobile health (mHealth), was estimated at US$1.02 billion in 2015 and is expected to reach US$1.79 billion in 2020, growing at a compound annual growth rate (CAGR) of 12%. The greatest market enabler has been technology evolution.
Governments in Asia-Pacific are also playing a significant role in driving technology development and adoption by investing in infrastructure, such as nation-wide 3G and 4G access, developing telehealth and eHealth roadmaps and creating policies that directly or indirectly attract investment in health technology.
Paradoxically, while the demand and opportunity potential for telehealth technologies is strong, vendors and healthcare providers in the region have not been able to grow their businesses to the aspired scale and volume.
"A number of pilots have failed to reach commercialization due to poor clinician adoption, an unfavourable regulatory environment and the lack of clarity around payment models," says Natasha Gulati, Transformational Health Industry Manager, Frost & Sullivan Asia-Pacific. "Establishing a sustainable business model is the single most critical business challenge for market participants today and we are constantly working with our clients to introduce business model innovation in this domain."
Industry participants are cognizant of these challenges and are rapidly moving towards market sophistication by introducing new technologies, ecosystem partnerships and reimbursement models. Primary care providers, particularly in the private sector, are already using integrated telehealth platforms that are either patient-paid or paid for by the provider because they improve cost and workflow efficiency. Key technologies transforming primary care models include mHealth apps for patient monitoring and communication, clinical wearables, remote home monitoring devices and virtual clinics. On the other hand telecoms and technology vendors are developing connected diagnostics kits, ubiquitous sensors for homes and hospitals as well as specialized care delivery services through qualified clinical personnel.
At a country level, telecoms are working with governments to help build Smart Cities and Smart Nation infrastructure with telehealth as a key area almost always included in a Smart City plan. Such projects allow vendors to expand their presence and penetration into strategic industries and also bring in their experience and expertise from other regions to Asia-Pacific.
Telehealth will significantly change care delivery models in Asia-Pacific including changing the roles and responsibilities of various industry stakeholders, particularly patients. Its greatest impact will be in driving patient engagement by allowing them to generate and access a lot more meaningful health data which will help them manage their own health more actively. While government support towards technology implementation has played a major role in driving the market, the region now needs to explore change management strategies that will drive adoption, especially amongst providers. With these developments in the pipeline the telehealth market in the region is set for growth.
For more information on this research, you can view a complimentary webinar at: https://www.brighttalk.com/webcast/5565/200517
Asia-Pacific Telehealth Outlook 2016-2020 is part of the Connected Health (http://ww2.frost.com/research/industry/healthcare/connected-health) Growth Partnership Service program. Frost & Sullivan's related studies include: 2015 U.S. Creating a Culture of Health - A Survey of US Consumers, Health Insurance Information Technology: US Overview and Outlook, 2014-2020, NA Remote Patient Monitoring (RPM) Market, The US Ambulatory EHR Market: 2015-2020, Mobile Health (mHealth) Market in Australia, and the US Hospital Real-time Location Systems Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Asia-Pacific Telehealth Outlook 2016-2020
P8A4-48
Contact:
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com
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