Asia Pacific Software as a Medical Devices Market Trends and Analysis by 2027
Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027Asia Pacific Software as a Medical Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Forecast by Device Type (PCs/Laptop, Smartphones/Tablets, and Wearable Devices), Application (Screening and Diagnosis, Monitoring and Alerting, and Disease Management), Deployment Type (Cloud and On-Premise), and Country
- Report Date : Aug 2020
- Report Code : TIPRE00012993
- Category : Technology, Media and Telecommunications
- Status : Published
- Available Report Formats :
- No. of Pages : 97
The Asia Pacific software as a medical devices market is expected to reach US$ 17,108.77 million by 2027 from US$ 3,470.73 million in 2019. The market is estimated to grow at a CAGR of 22.7% from 2020 to 2027.
The growth of the Asia Pacific software as a medical devices market is attributed to the increasing adoption of information technology in healthcare, growing number of collaborations for research & product development amongst healthcare and IT companies, and rising popularity of connected devices. However, the increased risk of data breach limits the growth of market in this region. Countries in Asia Pacific are expecting to witness huge challenge due to growing COVID-19. Due to outbreak of disease, healthcare industries has been affected badly. Due to growing coronavirus cases, many business related activities such as product launches and product promotion conferences has been postponed, leading to restraining the growth of the market.
The Asia Pacific software as a medical devices market is expected to witness significant growth during the forecast period due to increasing adoption of IoT in healthcare. The Internet of Things (IoT) has played an important role in the healthcare development. The technology is also actively integrated into converting the digital platforms into medical devices that has helped these devices to be beneficial on all levels starting from in-patient treatment to population health condition monitoring. The healthcare industry has recently begun to invest in IoT and medical software development due to various advantages underlying their integration. These advantages include real-time patient health tracking in hospital and home settings through wearable devices consisting of data tracking software, improvement in patient adherence to monitor the growth and effect of a particular treatment through particular software accessed from smartphones or tablets and others.
Japan is among the major countries in the software as a medical devices market in this region. In the country, the pharmaceuticals and medical devices legalized by the Pharmaceutical and Medical Device Agency (PMDA) and the Ministry of Health, Labor, and Welfare (MHLW). The Pharmaceutical and Medical Device Agency or PMDA is an impartial agency that works with the MHLW to review the effectiveness and safety of medical products in Japan. The country is relying on a risk-based classification system, which is used to categorize medical devices into four classes that are based on the associated risk such as Class I – lowest potential risk and Class IV – highest potential risk. In November 2014, the PMDA act came into forces in the Japanese market to runs the legal framework for the regulation of pharmaceuticals, medical devices, drugs, in vitro diagnostic reagents, cosmetic products, and cellular therapy & regenerative products.
Asia Pacific Software as a medical devices market Revenue and Forecast to 2027 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Asia Pacific Software as a medical devices market Segmentation
By Device Type
- Smartphone/Tablets
- Wearable Devices
- PCs/Laptop
By Application
- Screening and Diagnosis
- Monitoring and Alerting
- Disease Management
By Deployment
- Cloud
- On-Premise
By Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Company Profiles
- Velentium LLC
- Tietronix Software Inc.
- S3 Connected Health
- Zühlke Group
- Science Group
Asia Pacific Software as a Medical Devices Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 3,470.73 Million |
| Market Size by 2027 | US$ 17,108.77 Million |
| Global CAGR (2020 - 2027) | 22.7% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Forecast Device Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
Market Research & Consulting
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- Velentium LLC
- Tietronix Software Inc.
- S3 Connected Health
- Zühlke Group
- Science Group
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