|
|
 |
|
Viewing report
|
|
|
|
Healthcare Information Technology Market in Southeast Asia
Frost & Sullivan, April 2011, Pages: 152
This market engineering research service has been developed to address the dynamics of healthcare information technology in Thailand, Singapore, and Malaysia. The market is divided into subsegments that include administrative and clinical healthcare IT. This research study presents the key findings for the Southeast Asian healthcare information technology market. It provides insights and forecasts market size. This research service also discusses market trends, drivers, and restraints, technology trends and Southeast Asian government initiatives. The study concludes with a section on IT ranking, covering six main parameters
Research Overview
This Frost & Sullivan research service titled Healthcare Information Technology Market in Southeast Asia analyzes the markets in Thailand, Malaysia, and Singapore. The study provides an in-depth analysis of the market drivers and restraints, industry trends, and competitive environment in addition to the challenges and issues faced by market participants. In this research, Frost & Sullivan’s expert analysts thoroughly analyze the following segments: administrative and clinical healthcare IT (HIT).
Market Overview
The HIT Market in Southeast Asia Grows in Leaps and Bounds as Quality of Medical Services Improves
Over the last few decades, opportunities have been proliferating in the HIT market in Southeast Asia. The market has been growing at a furious pace. Singapore is the market leader with a clear vision for a well-integrated electronic records system. Malaysia and Thailand, on the other hand, are adopting healthcare IT but at a less aggressive pace. There is a growing demand for improved healthcare services from the rising middle class that has high purchasing power. Moreover, the phenomenon of medical tourism is encouraging healthcare service providers to market themselves better to cater to this segment. Numerous private healthcare service providers in the three countries are using state-of-the-art facilities and treatments to lure medical tourists. In 2009, the Southeast Asian healthcare IT market was valued at $103.8 million. It is expected to witness a compound annual growth rate (CAGR) of11.6 percent from 2009 to 2016 and reach $223.9 million in 2016. This revenue makes up for software licensing. “The high economic growth in these regions is fuelling growth in the market, and heavy emphasis is being placed on improving the infrastructure to allow better foreign direct investment,” notes the analyst of this research service. “All three nations are quickly ascending the steep learning curve that is part of IT development, through the continuous implementation of efficient and sustainable systems in their healthcare settings.”
Southeast Asian countries are quite receptive to new technological products, provided they will benefit the healthcare service provider or country as a whole and are cost effective. Lately, many IT companies are expanding aggressively in these countries. Apart from treatment in Southeast Asia being competitively priced, there are a number of alternative therapies, which are not available in western countries, provided in this region. Moreover, an increase in affordable transportation and availability of tourism-friendly infrastructure in all three countries has caused a boom in medical tourism. Foreign patients are expecting medical records to be digitalized in these Asian countries.
Security Concerns Cloud Market Prospects
The volume of healthcare data has been growing exponentially, and issues surrounding security have been gaining greater significance. Thus, there is a heightened need for the secure management and storage of historical and current medical data of patients through data-archiving techniques for future reference. Addressing this challenge is likely to affect cost-control measures at a hospital level. Apart from this, the lack of central government funding for HIT has restricted its adoption in government healthcare facilities. The central governments of all three countries may consider HIT as an expense rather than an investment. Singapore and Malaysia have shown considerable improvement in terms of HIT spending in the last few years, though not on a robust scale. Limited knowledge about applications of information technology in the healthcare-provider space also restrains the total market.
“In terms of the competitive landscape, there are few strong local competitors in the healthcare IT market,” says the analyst. “However, vendors are doing well, as some healthcare service providers prefer local vendors.” Foreign vendors have an edge, with strong product and healthcare industry expertise. Many of the local vendors have partnerships with foreign vendors, especially since local vendors lack experience with healthcare-related products. Governments in Southeast Asian countries are encouraging partnerships, to benefit from a spillover effect on technology and healthcare expertise.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Administrative HIT
- Clinical HIT
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
