Transparency Market Research presents this most up-to-date research on “Telemedicine Technologies and Services Market (Component – Hardware, Software, and Services; End-user – Telehospital and Telehome) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023“
Telemedicine has shown a greater degree of adaptability in accordance with sectors such as communication and information. This has provided health care practitioners and patients with a wide array of services. Presently, telemedicine is routinely used in daily medical practices by professionals. Hospitals find telemedicine services to be increasingly profitable, as the reach of the services has improved significantly over the years due to the advent of tele-support. The global telemedicine technologies and services market is predominantly driven by increase in the global geriatric population, advances in mobile penetration, connectivity, and ICT services, and burden on existing hospital care due to growing health care demands. According to the World Health Organization, the global geriatric population was around 524 million in 2010 and is likely to reach 1.5 billion by 2050.
The market overview section of this report analyzes market dynamics such as drivers, restraints and opportunities that influence the telemedicine technologies and services market in the current and future scenario. Heat map among the market players is analyzed to signify the presence of market players in the relevant (hardware, software, service) segment of the market. All these factors will help the market players to decide about the business strategies and plans to be incurred in future for strengthening their position in the global market.
The telemedicine technologies and services market by component has been segmented as hardware, software and services. Telemedicine hardware involves collection of physical parts and assemble into a proper telemedicine system. The hardware segment has been categorized into videoconferencing unit, imaging unit, vital signs unit, ECG, and others. Integrated and stand alone are the type of software in the telemedicine technologies and services market. The global telemedicine services market has been segmented as interactive, store and transfer and chronic care. Based on end-user, the global telemedicine technologies and services market has been segmented into telehospital/teleclinic and telehomes.
Geographically, the telemedicine technologies and services market has been differentiated into five major regions: North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Moreover, analysis for the major countries comprising U.S. Canada, Germany, France, Japan China, India, Australia, Brazil, and Saudi Arabia have also been provided in the report.
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Based on component, the telemedicine technologies and services market has been segmented into hardware, software, and services. The hardware segment has been categorized into videoconferencing unit, imaging unit, vital signs unit, ECG, and others. The videoconferencing unit sub-segment accounted for the largest share of the hardware segment in 2014. The segment will continue to dominate the market until 2023 due to increase in preference for videoconferencing units for telemedicine solutions. The imaging unit segment is expected to expand at the highest CAGR from 2015 to 2023 owing to high demand for imaging services, mostly preferred for radiology and digital pathology services, and rapid technological advancements in the imaging segment. However, concerns over confidentiality of patient’s medical information is likely to hamper the growth of the telemedicine technologies and services market during the forecast period.
Based on software, the telemedicine technologies and services market has been segmented into integrated and standalone. The integrated software segment dominated the market in 2014 due to high adoption rate and technological innovations. Telemedicine services (interactive, store and transfer, and chronic care management) is the most promising segment of the telemedicine market owing to worldwide popularity and ability to provide high definition and quality medical services in remote areas. People in developing nations cannot afford technologically advanced products due to financial crisis and low disposable incomes. Hence, they opt for cost-effective and consistent telemedicine services. Therefore, the services segment is likely to gain momentum in developing countries such as India, China, Brazil, and South Africa.
Based on end-user, the global telemedicine technologies and services market has been segmented into telehospital/teleclinic and telehome. The telehospital segment dominated the market primarily due to high adoption rate of technologically advanced and cost-effective innovative telemedicine services and products and rising preference of patients toward telemedicine services for telehospital.
The global telemedicine technologies and services market is characterized by the presence of major companies such as Aerotel Medical Systems Ltd., AMD Global Telemedicine, Inc., General Electric Company, Honeywell International, Inc., and LifeWatch AG.
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