Around 65 percent of hospitals in the APAC region are planning to spend more on digitalization to raise patient satisfaction and minimize medical errors.
FREMONT, CA: According to a regional poll, the majority of hospitals in the Asia-Pacific area intend to spend more on digitalization over the next three years in order to improve patient happiness and reduce medical errors. A survey with over 400 hospital executives was conducted by L.E.K. Consulting recognized trends that are defining APAC hospitals’ priorities and how they have adapted during COVID-19. In Japan, digital health solutions are not yet a priority or they are unaware of them, says four in ten executives. The report shows that the top spending categories are therapies, and non-therapeutic appliances such as sterilization equipment, medical furniture, infection control. On the contrary, the lack of different solutions, adjusting the standard of care for digital care and increased concerns around patient privacy are a setback holding the adoption of digital health solutions. Due to the ongoing uncertainty, fewer hospitals are actually planning to increase their overall spending over the next three years.
There is also a reduction on planned capital expenditure on medical devices and equipment, especially diagnostic imaging equipment. Still, seven in ten executives believe that many hospitals are aiming to raise their spending on implantable medical devices and consumables this year. Conclusively, due to restrictions on physical access to healthcare institutions during the pandemic, many doctors have engaged with sales representatives through digital channels.Owing to the growing need for more remote patient monitoring services and the fast adoption of digital technologies, the global market is expected to grow at 15.1 percent CAGR by 2028, which was valued at 96.5 billion dollars last year. Growing smartphone penetration and internet connectivity, availability of mobile health apps, and increasing usage among physicians and patients are the major driver for this mobile health technology space. Additionally, the development of new products and shifting technological advancements will also contribute to this market.