Telemedicine overcomes the barrier of distance by providing clinical health care through information technology and telecommunication. It makes health service more accessible, particularly in isolated rural areas where medical care is not consistently available primarily due to the location. Telemedicine enables effective communication between medical staff and patients, and facilitates the transmission of crucial health and medical information. Telemedicine plays a vital role in saving human lives, especially in emergencies and critical situations. Due to its fundamental application in the healthcare system, the global telemedicine market is expected to grow with a healthy CAGR during the forecast period.
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The global telemedicine market is driven by the growing number of government initiatives aimed at increasing the adoption of telemedicine at a hospital and clinic level in order to optimize the healthcare facility. Aerotel Medical Systems, Bosch Healthcare, AMD Telemedicine, GE Healthcare Ltd., Philips Healthcare, Honeywell HomMed and McKesson Ltd. are some of the major players in this market. These companies are concentrating on developing innovative models of telemedicine to offer well-organized healthcare services.
The global telemedicine market is segmented on the basis of Service Type, Technology, Application and Geography. Telemedicine services are offered in the form of Telehome and Telehospital/Teleclinic. The Telehospital segment dominates the market whereas Telehome services are growing at a faster rate. Based on technology, the telemedicine market is segmented into Telecom, Software, Hardware and Network.
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Telemedicine has a wide range of applications which includes Telecardiology, Telepathology, Teleradiology, Telepsychiatry and other sectors. The Telecardiology market is growing at a faster rate due to the rising incidence of cardiac disorders. Geographically, the global telemedicine market is segmented into North America, Europe, Asia-Pacific and LAMEA. The United States government has taken the initiative to support telemedicine services and increase its adoption in hospitals through proposed Medicare and Medicaid programs.
KEY MARKET SEGMENTS
The global telemedicine market is segmented into four broad categories: service type, technology, applications and geography.
MARKET BY SERVICE TYPE
- Telehospital/ Clinic
MARKET BY TECHNOLOGY
MARKET BY APPLICATION
MARKET BY GEOGRAPHY
- North America
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