PCA FORECASTS THE TELEMEDICINE MARKET IN ASIA
Pioneer Consulting Asia-Pacific releases its COVID-19 adjusted Telemedicine industry forecasts for key Asian markets: Indonesia, Malaysia, Singapore & Thailand
Overview - Telemedicine Industry Forecasts
Telemedicine is expected to see up to three-fold growth in key SE Asian markets by 2023, with user penetration in Indonesia, Malaysia, Singapore & Thailand projected to reach 21%, 23%, 24% and 21% in 2023, respectively.
The strong growth in telemedicine usage was catalysed by the COVID-19 pandemic in 2020 as consumers generally became more open to using digital platforms for a range of previously offline activities and actively avoided in-person medical consultations. On the back of this hike in popularity, other contributing factors include consumers becoming more health conscious, increasing number of healthcare providers and start-ups entering the telemedicine space, and increase in partnerships and subsidies by government bodies.
There is currently a lack of reliable forecasts for the telemedicine industry in key Asian countries such as Indonesia, the Philippines, Thailand, Malaysia, and Singapore, despite these countries experiencing unprecedented growth in the digital content sectors (including telehealth and telemedicine), especially during Covid-19.
As leading experts in digital content sectors in Asia, PCA has developed proprietary forecasts to provide its clients with guidance on how the telemedicine market will develop over the next 3 years.
Singapore is expected to have the highest telemedicine user penetration, followed by Malaysia, Indonesia and Thailand.
As there are still areas of Malaysia not dominated by any telemedicine providers, private healthcare players and foreign investments are aggressively entering Malaysia’s telemedicine space. Private hospitals are also rolling out their own telemedicine services and telemedicine start-ups are entering Malaysia as part of their international expansion plans to capture more users.
Countries covered (SE Asia)
Table of Contents
Telemedicine Market Size in Indonesia, Malaysia, Thailand, and Singapore
1.1 Scope of the Study (About Telemedicine)
2 RESEARCH METHODOLOGY
4.1 Indonesia telemedicine user forecasts and assumptions
4.3 Thailand telemedicine user forecasts and assumptions
4.4 Malaysia telemedicine user forecasts and assumptions
4.5 Singapore telemedicine user forecasts and assumptions