The changing dynamics of the healthcare industry have had a major impact on the trajectory of the global telemedicine technologies and services market. The report indicates that the global market will grow at a rapid pace as the world is witnessing emergence of deadly diseases and adoption of technologies in the remotest corners of the world. The rising uptake technology has allowed several medical professionals to reach out to a bigger patient base and offer critical tele-support. In the coming years, the global telemedicine technologies and services market is poised to revolutionize the way diseases are managed.
Transparency Market Research provides a detailed analysis of the global telemedicine technologies and services market in its latest research report. The publication presents an unbiased scrutiny of the global market with the help of SWOT analysis and Porter’s five forces analysis. It highlights the impact of political, economic, environmental, and technological aspects on the overall scenario. Furthermore, it also evaluates the competitive landscape present in the global market.
The World Health Organization states that the geriatric population across the globe is likely to reach 1.5 billion by the end of 2050 from 524 million in 2010. Thus, the exponential rise in the number of geriatrics is likely to be the key growth driver for the global telemedicine technologies and services market. Advent of technology, rapid penetration of mobile phones, superior connectivity, and emergence of ICT services are likely to make a collective contribution to the soaring profits of the global market.
On the basis of component, the global market is divided into services, software, and hardware. Of these, the telemedicine services division is gain steady momentum as it offers high quality of medical services in the remotest areas. It has enabled a wider reach of medicine and science to the patients in need through reliable technology and well-established infrastructure. The cost-effectiveness of telemedicine technologies and services can especially be felt in developing regions of the world where basic amenities remain significantly unaffordable. Analysts estimate that the persistent demand for healthcare facilities, medical advice, and emergence of endemics in developing countries will bolster the growth of the services segment in the foreseeable future.
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In terms of geography, the global telemedicine technologies and services market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these, North America is leading the pack and is expected to maintain its stance in the near future. As of 2014, the regional market held a whopping share of 53.3% in the global telemedicine technologies and services market. It robust communication, healthcare, and medical infrastructure in the region are expected to drive the North America telemedicine technologies and services market. Strong presence of suppliers, hospitals, and higher acceptance of technology is also expected to keep North America at the forefront.
On the other hand, Asia Pacific is also expected offer several lucrative opportunities to the global market. The large population base, various unmet medical needs, and a emergence of the medical tourism industry are all expected to have a positive impact on the regional market in the near future.
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.
Some of the leading players operating in the global telemedicine technologies and services market are Aerotel Medical Systems Ltd., General Electric Company, LifeWatch AG, AMD Global Telemedicine, Inc., and Honeywell International, Inc.
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