Wireless healthcare market in APAC to grow by USD 41.13B from 2022-27

The “wireless healthcare market in APAC by component (hardware, software, and services) and Application (healthcare amenities, home care, pharmaceuticals, and others)- Forecast and Analysis 2023-2027” report has been added to the Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the wireless healthcare market in APAC from 2022 to 2027 is USD 41.13 billion.

The increasing adoption of wearables is the key factor driving the market growth. The development of medical devices with better characteristics has been due to advances in technology. Biosensors, Smartwatches, ECGG sensors, Handsfree wristbands, wearable activity trackers, glucose monitors, smart diaper suits, Bionic implantable devices, digital tattoos, and pedometers are some of the advanced healthcare products available today that can be used in wireless medical applications. This demand for such wearables is expected to be boosted by the increasing number of people in the region who are health-conscious.

Market challenge
Data privacy and security issues are significant challenges restricting market growth. Privacy and data protection issues have become a major challenge for the healthcare sector’s players, which include hospitals, health centers, and insurance companies, with an increase in cyber security risks. Moreover, the end consumers, including healthcare providers and patients, have concerns regarding their privacy and security despite legislative frameworks for protecting them, since telecom network operators can easily access information generated by wireless healthcare solutions as well as insurance companies.

Key companies in the wireless healthcare market in APAC:
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. Technavio