System and Software Segment has the Largest Share of Component in the Asia Pacific Healthcare Satellite Connectivity Market during 2021–2028

According to a new market research study on “Asia Pacific Healthcare Satellite Connectivity Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Application, Connectivity, and End User” is expected to reach US$ 2,421.2 million by 2028 from US$ 1,584.4 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific Healthcare satellite connectivity market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the government initiatives for promotion and development of satellite connectivity-based solutions in healthcare and rising adoption of eHealth are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the concerns regarding data privacy.

The COVID-19 pandemic has critically impacted the region, but it has also provided an opportunity for stakeholders to realign their future path based on strategic intent and focus. Moreover, various companies such as have been manufacturing patient monitoring devices with biosensors for easy and quick results. Governments in Asia and the Pacific were uncertain about the relative costs and benefits of funding telemedicine on a large scale. When the epidemic hit, the advantages of digital health systems were immediately evident. Governments immediately made digital health platforms available to the general public as a result of reducing the virus's spread. Australia extended Medicare coverage for telemedicine, South Korea eased restrictions on telemedicine to treat Covid-19 patients remotely, and Japan launched a free government-backed remote health service utilizing digital health tools. For rapid Covid-19 tests in distant locations, Indonesia's Ministry of Health partnered with ride-hailing giant Gojek and telemedicine provider Halodoc.

The market for healthcare satellite connectivity market is segmented into component, application, connectivity, and end user. Based on component, in 2021, system and software segment are estimated to account for the largest market share in the Asia Pacific healthcare satellite connectivity market. The growth of this segment is attributed to the growing demand for data analytics in healthcare and the rapid implementation of technology in medical services. Furthermore, lack of proper infrastructure in rural areas, and growing demand for real-time distance learning, telemedicine, and video services of higher quality are some of the other factors contributing to the growing adoption of satellite technology in healthcare.

Inmarsat Global Limited, Hughes Network Systems, SES S.A., Globalstar, EUTELSAT COMMUNICATIONS SA, AT&T Intellectual Property, and DISH Network L.L.C. are among the leading companies in the Asia Pacific healthcare satellite connectivity market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in July 2021, Globalstar, Inc. announced a partnership with FocusPoint International Inc. to provide crisis assistance services under the Global Overwatch & Rescue Plan to Globalstar customers worworldwide.

The market for healthcare satellite connectivity market is segmented into component, application, connectivity, and end user. Based on component, the healthcare satellite connectivity market is segmented into medical device, system and software, and services. Based on application, the healthcare satellite connectivity market is segmented into ehealth, and others. Based on connectivity, the healthcare satellite connectivity market is segmented into mobile satellite services, and fixed satellite services. Based on end user, the healthcare satellite connectivity market is segmented into clinical research organization, hospitals and clinics, research and diagnostic laboratories, and others. Geographically, the healthcare satellite connectivity market is segmented into Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific).

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