The European telemedicine market grew from $3.1 billion in 2010 to $4.8 billion in 2011 and will almost triple to $12.6 billion in 2019 at a CAGR of 12.82% over the next five years.
Telemedicine services are used in several medical areas including diabetes control, primary health care, psychiatry, genetics, radiology, pathology, cardiology etc.
The major driving force for this market is increasing aging population, rising healthcare costs, rising prevalence of chronic diseases. Technological innovations and advancements fuel the market growth. Major market constraints are high technological costs, lack of physician support, poor cases of implementation and lack of sufficient resources for the telemedicine market in- general, specifically in developing and underdeveloped nations.
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Market segmentation is done based on type (Telehospitals and clinics, Telehomes), on technology (hardware, software, telecom, services), on clinical applications (Teleconsultation, Telepathology, Telecardiology, Telesurgery, Teleradiology, Teledermatology), and on geography (France, Italy, Germany).
Some of the key participants in the global telemedicine market include Aerotel Medical Systems Limited, AMD Telemedicine, Johns Hopkins Medicine, Mennen Medical Corp., NightHawk Radiology Services LLC, Philips Healthcare, SHL Telemedicine Ltd., Siemens Healthcare, Polycom, TANDBERG, TeleVital Inc., Templeton Readings LLC, United Therapeutics Corporation, Welch Allyn Protocol, Inc. and World Care International Inc., among others.
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