“Healthcare Satellite Connectivity Market Analysis By Component (Medical Device, Software), By Connectivity ( Fixed Satellite, Mobile Satellite), By End-use, By Application, And Segment Forecasts, 2017 – 2025” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977.
The global healthcare satellite connectivity market size was valued at USD 5.1 billion in 2016 and is projected to grow with CAGR of 7.1% during the forecast period. The rising healthcare expenditure toward development of eHealth, telemedicine, telehealth, and other mHealth solutions is one of the key contributors to the growth of the market.
The usage of different technology platforms is increasing rapidly as hospitals and medical institutions are focusing more toward efficiency and improved delivery of services to patients. The rising prevalence of chronic diseases, advancing age of the population, and rise in overall medical service costs are leading to increasing adoption of technology in the healthcare industry. Many rural areas still lack healthcare infrastructure, skilled workforce, and access to quality health services. The integration of technology-enabled services along with satellite connectivity assists in providing improved access to better health services to such deprived areas. The implementation of satellite connectivity enables digital imaging, remote patient monitoring, e-learning & consultation, and access to life sessions to improve the knowledge of medical professionals located at a distance.
Government initiatives play a vital role in increasing the adoption of satellite-enabled technology in healthcare as large investments are required in deploying solutions like telemedicine and mobile healthcare. Various governments are focusing on improving infrastructure in remote areas for better monitoring of diseases, delivery of professional training, and improved collection of patient’s data. For instance, the Luxembourg Ministry of Foreign and European Affairs, SES S.A. (a provider of satellite communications), and German Doctors, a Nongovernmental Organization (NGO) have launched a satellite connectivity based e-Health platform at the German Doctor’s hospital in Buda. This platform named SATMED will help improve healthcare provision and provide accessible eHealth services to the remote areas of the island of Mindanao.
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The system & software segment held the majority of revenue share in 2016 accounting for about 49.7%. Various software are available for management of patient database, medical records, and other operations. The growing demand of data analytics in healthcare and rapid implementation of technology in medical services contribute to the large share of the segment.
The services segment is expected to emerge as the fastest growing segment over the forecast period with a CAGR of 7.5%. Rising demand for seamless data flows between people and devices to boost efficiency of medical devices, enhance security, and enable informed decision-making in real-time are some of the factors that are expected to drive the growth of this segment.
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The satellite technology in eHealth was the dominating segment on 2016. The increasing number of government initiatives in various regions, rising concern for patient safety, and an upsurge in demand for effective delivery of care services are some of the key contributors of the market growth.
The others segment is anticipated to emerge as the fastest growing segment with a CAGR of 8.6% during the forecast period. The others segment includes applications such as connected imaging, emergency services & disaster response, and distance education. Advanced miniaturized equipment is used to transfer data to the medical center through the satellite systems during emergencies and in response to disasters or rescue operations.
The hospitals & clinics segment held the majority of the market in 2016 with a share of 65.3% and is expected to continue its dominance over the forecast period. The increasing demand for efficient management of hospital operations, streamlining the workflow, increasing focus on improved patient safety, rising need to reduce the associated high costs, and reduce the errors in prescription & dispensing are some of the factors that contribute to the large share of the segment.
There has been a growing adoption of technology in streamlining and managing the operations of hospitals and clinics. Adopting of technological solutions in core activities of a hospital results in various benefits such as remote monitoring of a patient’s data, data analysis from Real-Time Location Systems (RTLS) to maintain a central database record of all patients, and real-time monitoring of patient conditions, which enable provision of enhanced treatments.
Based on connectivity, the market is segmented as Fixed Satellite Services (FSS) and Mobile Satellite Services (MSS). The FSS segment was the dominating segment in 2016 due to its rising usage and increased application in eHealth and telemedicine. However, the MSS segment is expected to be the fastest growing segment with a CAGR of 10.5% over the forecast period.
FSS in healthcare is anticipated to grow rapidly owing to the growing demand for data transmission and connectivity. The FSS operates using the ground station at a given position, which is fixed to a specific location and uses the Very Small Aperture Terminal (VSAT) technology to enable high-speed data transmission to users across different locations.
The use of mobile stationary services is growing rapidly due to technological advancements such as use of mobile apps, sensors, real-time patient monitoring, and asset tracking. The rising consumption of voice and data services from emerging areas such as eHealth, telehealth, and emergency & disaster response is anticipated to significantly boost growth over the forecast period.
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