The BRIC Telemedicine Marketis projected to extentat a CAGR of 19.2%, USD 1.20 billion by 2020 from USD 498.7 million in 2015.
Telemedicine is the use of electronic communications for medical information exchange from one site to another in order to improve a patient’s clinical health status. In this report, the BRIC telemedicine market is broadly segmented by component, application, delivery mode, and country.
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On the basis of component, the BRIC telemedicine market is divided into
The services segment accounted for the largest share of the BRIC telemedicine market in 2015. Factors such as rising adoption of remote monitoring solutions and technological advancements in telecommunications are contributing to the growth of this segment.
On the basis of deployment mode, the BRIC telemedicine system market is categorized:
The web-based segment accounted for the largest share of the BRIC telemedicine delivery mode market in 2015. Factors such as huge customer base and remote data accessibility are driving the growth of this segment.
On the basis of application, the BRIC telemedicine market is segmented into:
- Other applications.
The teleconsultation segment accounted for the largest share in 2015.
China accounted for more than half of the BRIC telemedicine market in 2015. It is a major market for telemedicine due to factors such as the huge awareness and acceptance of telemedicine, rising incidences of chronic and lifestyle diseases, and growing healthcare expenditure. In addition, major local companies have easy access to this market, which makes it the largest and most significant market for suppliers. Brazil, on the other hand, is expected to grow at the highest CAGR over the next five years. Growth in the Brazilian telemedicine market is mainly driven by the increased purchasing power, emerging mindset towards wellness, and rising healthcare expenditure.
Market Drivers of BRIC telemedicine market
- Telecommunication growth in BRIC countries
- Rising prevalence of chronic diseases
- Need for better healthcare in rural areas
- Cost-effectiveness of telemedicine
Restraints of BRIC telemedicine market
- Lack of skilled resources
- High infrastructure cost
- Legality, Privacy, and Security Concerns
Opportunities in BRIC telemedicine market
- Growth potential for stakeholders
- Favorable government initiatives
Challenges in BRIC telemedicine market
- Lack of telemedicine standards
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The need for better healthcare in rural areas, tremendous growth in telecommunication, rising prevalence of chronic diseases in BRIC nations, and low cost of telemedicine are the major factors fuelling the growth of this market. However, high infrastructure cost and lack of skilled resources may restrain the market growth. On the other hand, favorable government initiatives present a huge growth potential for telemedicine in the BRIC nations.
Reasons to buy Telemedicine Market report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the BRIC telemedicine market; high-growth regions; and market drivers, restraints, and opportunities.
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The Telemedicine Market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on gallery equipment offered by the top players in the global BRIC telemedicine market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the BRIC telemedicine market.• Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for BRIC telemedicine across various regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global BRIC telemedicine market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global BRIC telemedicine market.
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