Asia-Pacific healthcare IT market to post double-digit growth in the next six years

Japan and India account for more than half of market share.

Asia-Pacific’s healthcare IT (HCIT) solutions and services market is set to expand at a compounded annual growth rate (CAGR) of 15.3%, according to a report by Allied Market Research.

Growth in the region will be driven by increasing awareness about the benefits of healthcare IT solutions, as well as improvements in healthcare infrastructure and increases in healthcare expenses across emerging markets such as India and China.

The report also projects that the global healthcare IT market will reach US$297b by 2022, more than double the 2015 level of US$125b, on the back of increasing demand for quality healthcare solutions, supportive government initiatives, growing acceptance of mHealth and telehealth practices, and increasing adoption of smartphones for healthcare provision.