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Asia/Pacific Healthcare Sector IT Spending to Reach $12.2 Billion in 2019
May 31, 2019 | IDCEstimated reading time: 2 minutes
According to the new Asia/Pacific (excluding Japan) Healthcare IT Sector Spending Forecast and Trends, 2017-2022, Asia/Pacific Healthcare IT Sector spending is forecast to increase from $12.2 billion in 2019 to $14.9 billion by 2022, at a CAGR of 7%. This IDC analysis report scans the regional trends and draws a picture, detailing the emerging trends in various countries aligning with their respective spending forecasts.
The report details the overall healthcare IT spend data, where China and Australia lead the game with 71% of the total IT spending. It also covers an overview of potential countries in the region by carrying out per Capita analysis and provides clarity on the type of approach to be adopted by organizations to effectively tap country potential.
Governments in 'Leaders' and "Promoters' segments aim to boost both new hospitals and software adoption aiming to improve care quality, with strong, immediate funding. In countries belonging to the 'Challengers' and 'Explorers', in the absence of strong government funding, there would be more dependence to technology supported by software and IT services, mainly driven by private investments, through 2022. Efficient public-private partnership will thrive in these segments scaling care-delivery services to wider reach.
Highlights of the report include:
- Software and IT services are the core of healthcare digitalization and act as major drivers fueling the Healthcare IT spending growth in the region.
- Healthcare Payer segment is projected to adopt increased growth rate compared to that of Providers as it gets ready to tap the potential of technology.
- While China tops in the overall healthcare IT spend, Singapore tops in the per Capita healthcare IT spending, followed by Australia.
"One of the major driving factors in the Asia/Pacific region for investment in healthcare IT is to take the care delivery to the most remote patient, particularly in the populous and vast countries like China, India and Indonesia. This could be through a remote care solution via primary care centers and cutting edge technological tools like 5G, IoT, AI and AR/VR," says Manoj Vallikkat, Research Manager at IDC Asia/Pacific Healthcare Insights.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company.
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