Market Size of Asia Pacific Wireless Healthcare Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2020 |
| CAGR | 24.79 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Wireless Healthcare Market Analysis
The Asia Pacific Wireless healthcare market is expected to register a CAGR of 24.79% during the forecast period 2020 - 2025. In Asia-Pacific, especially in China, the smart healthcare industry has gained significant growth over the years, and it is primarily driven by the high investment in the 5G infrastructure in the region, thus driving the market growth.
- According to the National Broadband Plan conceived by the Federal Communications Commission (FCC) in India, the healthcare industry is capable of saving around USD 700 billion, in the next 15-20 years, with the utilization of remote patient monitoring technology.
- In conjunction with the electronic health records (EHRs), physicians can be more efficient during their consultation hours without physically visiting the patients every few hours. They can also prove to be the most quantifiable RoI for hospitals since operational costs can be saved by reducing re-admissions, in-person visits, and staff engagement.
- Seeking growth opportunities in the region for the wireless healthcare market, healthcare-tech startups in the region are actively attracting funding from investors. The India-based startup, mfine, recently bagged a series B funding of USD 17.2 million from the Japanese venture-capital, SBI Investment. The company helps doctors expand their reach beyond cities' physical boundaries and has served over 800 towns in India.
- Furthermore, Wipro's Remote Patient Monitoring and Care Management Solution offers an integrated home-installed system that utilizes wireless data transmission. Its medical-grade communication technologies and protocols enable health-related guidance, personalized care management, and processes to improve treatment adherence.
- The pandemic period since venture capital funds marked early 2020 increased the investments in startups specializing in artificial intelligence, cloud-based health solutions, the internet of things, and smart home. The allied healthcare IT leaders are banking on a list of companies that make technologies that help keep tabs on patients remotely.
