A new market study, titled “Global Markets for Telemedicine Technologies”, has been featured on WiseGuyReports.
Summary
The global telemedicine market is estimated to be $31.2 billion in 2018 and it is expected to reach $72.5 billion by 2023, growing at a CAGR 18.3% during the forecast period (2018 to 2023).
Telemedicine technology potentially targets the underserved, the elderly and their caregivers, persons with chronic diseases, employees and dependents, and fitness-oriented individuals. The adoption of telemedicine is increasing worldwide. This can be attributed to its ability to improve quality of care, access patients in rural communities, reduce hospital admissions and readmissions, enhance patient engagement and improve time management and convenience. Telemedicine also addresses the physician shortage globally. Additonally, the growing prevalence of chronic diseases, growing elderly population, and increasing healthcare costs are factors driving this market. Currently, mHealth (mobile
health) is the largest application of telemedicine. With the wide variety of mobile health apps available in the market and new mobile medical devices that are consumer-friendly, patients are now dependent on technology to monitor and track their health.
On other hand, the lack of reimbursement, regulatory issues, lack of physican knowledge and acceptance are some of the factors restraining the growth of the telemedicine market.
North America dominates the global telemedicine market with a majority of the market share. The use of telemedicine programs is integrated into more than half of all U.S. hospitals, as well as into specialty departments, home health agencies, private physician offices, homes and workplaces. However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period.
Report Scope
Telemedicine involves two-way communication between healthcare providers and their patients using audio and/or video technology. It is defined as exchange of medical information from one site to another through electronic communications. This report analyzes the market trends of telemedicine technologies with data from 2016, estimates from 2017 and projections of compound annual growth rates through 2022 (forecast period 2017 – 2022), as well as regional markets for telemedicine.
The markets in this report have been segmented based on type, products, services, clinical applications and geography. The type segment in this report covers telehospital/teleclinics and telehome. The product types covered in this report include hardware and software, as well as telecommunications, networks and connectivity. The hardware segment is further divided into home care hardware and telehospital/teleclinic hardware. Home care hardware covers monitoring and diagnostic equipment. Telehospital/teleclinic hardware includes videoconferencing units and store-and-forward units (such as teleimaging equipment and pathological units). The software segment is further divided into clinical outcome practice evaluators, e-prescriptions, diagnostic software and electronic health records. Based on service type, the markets in this report are divided into teleconsultation, telemonitoring, tele-education, telecare, teletraining and telesurgery. Telemedicine clinical applications cover therapeutic areas such as radiology, cardiology, psychiatry, pathology, neurology, dermatology, orthopedics, emergency care and gynecology, as well as end-user applications like hospitals, clinics and home care.
The research uncovers many paradigms shifts in the studied market in terms of regional competitive advantage, competitive landscape among the key players in the telemedicine industry and market dynamics. A holistic study of the market has been carried out by incorporating factors needed to analyze future trends, including country-specific demographic conditions, business cycles and market-specific microeconomic influences. The report provides a comprehensive review of market drivers, restraints, opportunities and available patents. Key vendor analysis and new products and developments with financials are also provided to enable easy decision-making.
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Report Includes
– 24 data tables and 26 additional tables
– An overview of the global telemedicine market
– Country specific data and analysis for United States, Canada, Mexico, UK, France, Germany, China, India, Japan, Brazil, South Africa and GCC Countries
– Detailed description of telemedicine hardware providers, software providers, telecom and networking companies, healthcare companies, and health insurance providers
– Evaluation of the potential role of telemedicine to improve collaborative healthcare status
– Identification of new technological developments and latest business trends developing in the telemedicine market
– Comprehensive company profiles of key players in the market, including IBM Corp., Medtronic Inc., Siemens Healthcare, Agfa HealthCare NV and BioTelemetry Inc.
Table of Contents
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Telemedicine Overview
Chapter 4 Market Breakdown by Type
Chapter 5 Market Breakdown by Technology
Chapter 6 Telemedicine Services Market
Chapter 7 Telemedicine Clinical Applications
Chapter 8 Market Breakdown by Region
Chapter 9 Patent Review and New Developments
Chapter 11 Analysis of Market Opportunities
Chapter 12 Stakeholders: Opportunities Analysis
Chapter 13 Company Profiles
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