Global Telemedicine Market Research Report Analsysi By Service Type (Telenursing), Component (Software, Hardware), Deployment (Cloud-Based, On-Premises), Application (Cardiology, Radiology, Dermatology) End Users (Hospitals, Clinics) – Global Forecast Till 2023
Telemedicine Market Insights
As per the latest report published by Market Research Future (MRFR), the global telemedicine market is anticipated to grow with a lucrative CAGR of 16.8% during 2017-2023 and reach a valuation of USD 56,738.3 Mn by 2023.
The increase in number of remote patients is augmenting the adoption of telemedicine in several healthcare organizations. The advancements in telecommunication technologies used in telemedicine are streamlining the process of diagnosis and delivering treatment remotely. Patients suffering from chronic diseases like diabetes require continuous monitoring that requires prolong hospitalization over frequent episodes of treatment. The ability of telemedicine to eliminate inconveniences caused due to long duration of admission is prompting its utility among the growing number of patients suffering from chronic disorder. The increase in the geriatric population, those demand for home medical care, is also bolstering the demand for telemedicine. Technical advancements like e-hospitals and electronic medical record (EMR) being incorporated in telemedicine system is marking its efficacy. These factors are anticipated to propel the global telemedicine market growth.
On the flip side, although, telemedicine is curbing down the hospital expenses, the cost of implementing telemedicine technologies is high. This can impede the market expansion over the assessment period. Additionally, lack of trained professionals is a constraint on the global telemedicine market growth.
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Telemedicine Market Analyzed by Key Players
Prominent companies that are operating in the global telemedicine market are CardioNet, Intel Corporation, Koninklijke Philips NV, Tunstall Healthcare, Cardiocom, General Electric, Cerner Corporation, IBM Corporation, Iris Telehealth, Allscripts Healthcare Solutions, Cisco, Medtronic, TeleVital, Honeywell Lifesciences, Care Innovations, Aerotel Medical Systems Ltd., Medvivo Group Ltd., AMD Global Telemedicine Inc., and CareClix, SHL Telemedicine.
Telemedicine Market Segmental Overview
The global telemedicine market study is segmented on the basis of, application, component, deployment, service type, and end use.
Based on the service type, the global telemedicine market has been segmented into tele-radiology, tele-nursing, tele-pharmacy, tele-oncology, and tele-dermatology.
Based on the component, the telemedicine market has been segmented into hardware and software. The hardware segment has been narrowed down to medical peripheral devices and monitors. The software segment has been classified into standalone software and integrated software.
Based on the deployment, the global telemedicine market has been segmented into on-premise and cloud-based.
Based on the application, the global telemedicine market has been segmented into, ophthalmology, radiology, cardiology, dermatology, and psychiatry.
Based on the end use, the global telemedicine market has been segmented into hospitals, home care, and clinics.
Regional Analysis
By region, the global telemedicine market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East Asia and Africa.
In 2017, the telemedicine market in North America and Europe have held large market shares. Owing to the increase in adoption of competent telemedicine systems these regions are expected to maintain its dominance over the forecast period. Governments are making efforts to provide more efficient healthcare facilities owing to technical advancements is driving the telemedicine market growth in these regions.
MRFR observes that the telemedicine market in the Asia Pacific region is expected to exhibit a rapid growth during the evaluation period. Governments in emerging economies like India, Japan, and China are making significant efforts to upgrade the healthcare system. This is a major factor that is expected to drive the market growth in the coming years. The Indian telemedicine market is estimated to touch a valuation of USD 32 million by 2020.
Telemedicine Industry News
June 2019: OakBend Medical Center based in Texas has launched telemedicine cart for patients afflicted with cardiac disorder. The system helps cardiologist to virtually examine the patient and decide if hospitalization is essential. Its enhanced video technology allows doctor to examine patients over a distance and also sync with patient’s medical chart.
TABLE OF CONTENTS
1 Report Prologue$ 1,350.00
2 Market Introduction$ 0.00
2.1 Introduction 17
2.2 Assumptions & Limitations 17
2.2.1 Assumptions 17
2.2.2 Limitations 17
2.3 Market Structure 17
3 Research Methodology$ 0.00
3.1 Research Process 20
3.2 Primary Research 20
3.3 Secondary Research 20
3.4 Market Size Estimation 21
4 Market Dynamics$ 950.00
4.1 Introduction 23
4.2 Drivers 24
4.2.1 Increasing Adoption Of EHR/EMR 24
4.2.2 Increasing Prevalence Of Chronic Diseases Like Diabetes, Cancer, And Others 25
4.2.3 The Dearth Of Physicians In The Presence Of Increasing Healthcare Services Demands 26
4.3 Restraints 27
4.3.1 The High Cost Of Implementing Telemedicine Systems Like EMR & EHR And The Need For Training 27
4.3.2 Stringent Government Regulations 28
5 Market Factor Analysis
…Continued
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