30 May 2019
New IDC Report Expects Asia/Pacific Healthcare Sector IT Spending to Reach USD 12.2 Billion in 2019
SINGAPORE, May 31st, 2019 – 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 USD 12.2 billion in 2019 to USD 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.
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IDC Health Insights
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