The global telecardiology market was valued at approximately USD 3.6 billion in 2019 and it is anticipated to grow at a healthy growth rate of 14% over the forecast period of 2020-2027.
Telecardiology is a technology that helps to achieve remote diagnosis and treatment of heart disease using telecommunication.
Factors such as growing prevalence of cardiovascular disorders and increasing adoption of electronic medical record (EMR)/electronic health record (EHR) are expected to drive the market growth. According to the World Health Organization (WHO), 17.9 million people die every year globally due to cardiovascular diseases. Other factors responsible for market growth include rising demand for healthcare services.
However, privacy & security concerns and stringent government regulations is expected to negatively impact the market growth during the forecast period.
Impact of COVID-19
COVID-19 pandemic lead to a worldwide healthcare emergency. All the healthcare facilities were majorly concentrated on curbing the spread of the disease. However, there has been a rising concern regarding other diseases which are not related to COVID-19. In case of cardiac disorders, majorly all the hospitals are adopting telecardiology solutions to address the patients’ problems. Therefore, the COVID-19 pandemic has positively impacted the telecardiology market globally, due to its increasing adoption in hospitals as well as clinics and by physicians as well as patients.
The global telecardiology market has been segmented into imaging techniques, technology, and end user.
On the basis of imaging techniques, the global telecardiology market is divided into X-ray, mammography, nuclear imaging, computed tomography (CT), fluoroscopy, ultrasound, magnetic resonance imaging (MRI) and others. The computed tomography (CT) segment held the largest market share in 2019 owing to its increasing usage for imaging purposes.
By technology, the global telecardiology market is classified into telecom & networking, software and hardware. Telecom & networking segment is expected to grow at the fastest CAGR owing to the rising technological advancements.
The market on the basis of end user is segmented into hospitals, ambulatory surgical centers, diagnostic centers, and others. Hospitals segment held the largest market share of the telecardiology segment as they are the primary care centers.
By region, the global telecardiology market is segmented into the North America, Europe, Asia-Pacific, and LAMEA.
North America is estimated to lead the global market in 2019, owing to the presence of a well-developed healthcare sector and increasing adoption of healthcare services. The Centers for Disease Control and Prevention (CDC) in 2017 stated that about 86.9% of the office-based physicians used the EMR/EHR system. The Europe market is expected to garner significant market share owing to the increasing government support to meet the healthcare needs and rising adoption of new technologies. The telecardiology market is the Asia-Pacific region is anticipated to grow at the fastest CAGR owing to the rising prevalence of cardiovascular disorders and growing awareness regarding telehealth services. The market in LAMEA is expected to witness slow growth owing to the lack of proper healthcare services, especially in Africa.
Key market players covered in the report include Siemens AG (Germany), Teleradiology Solutions (TRS) (US), Global Diagnostics Limited (UK), Mednax, Inc. (US), Onrad, Inc. (US), Telediagnostics Services Pvt. Ltd (US), Everlight Radiology (UK), Agfa-Gevaert Group (Belgium), Radiosphere National Radiology Group, Inc. (US), Fujifilm Medical Systems, Inc. (Japan), and others. These companies are involved in product approvals and investments in research & development to manufacture technologically advanced anesthesia machines.
For instance, in January 2019, American Well launched the American Well 760 Cart. This allows acute care teams at health systems to get remote specialists on board. With this, the company expanded its telecardiology portfolio.
Have Any Query? Ask Our Experts: https://www.reportocean.com/industry-verticals/sample-request?report_id=bw965
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Name: Nishi Sharma
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)