SEATTLE, June 08, 2021, (MEDGADGET) — A telemedicine is type of healthcare facility that allows the use of electronic communications, in order to provide clinical services without requiring a patient to come to a clinic or hospital. According a joint survey conducted by WEGO Health and American Telemedicine Association (ATA), in 2016, consumers are more interested in using telehealth as a replacement or complement technique for in-person patient care. Video conferencing in healthcare reduces re-hospitalization by extending care at home, delivers video-audio consultation, provides easy-to-use interface, and reduces travel time and associated costs. Moreover, video telemedicine improves efficiency by clear content sharing and facilitating more participant to engage into discussion.
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Video telemedicine for treating patients is an important aspect of telemedicine facility, which facilitates reliable quality and clinical efficiency to in-home care, acute care, and ambulatory care. Telehealth continues to gain importance in healthcare industry as patients are realizing the value of virtual care options and substituting it for in-patient care option. Moreover, telemedicine extends the healthcare solutions to the rural patients and to the patients living in the remote location areas, which increases accessibility to care at lower costs. Healthcare professionals and independent physicians are increasingly using telemedicine applications and software services to avail video conference with patients, when they lack infrastructure for in-house patient care. The 2017 U.S. Telemedicine Industry Benchmark Survey conducted by REACH Health, among physicians, healthcare executives, nurses, and other healthcare professionals in the U.S. found that telemedicine continues to evolve from specialty service to mainstream service. Moreover, 94% of participants choose video conferencing feature (integrated audio and video for live patient engagement) and found it the most valuable tool in telemedicine platform service.
Over 50% of patients surveyed by the Health Industry Distributors Association (HIDA), in 2016, were more satisfied receiving telehealth service, and 54% said that the experience was better than traditional physician clinic visit. Moreover, more than half of the survey respondents learned about telehealth from their physicians rather than telemedicine service provider. Moreover, the physician and consulting healthcare professionals are an important link to provide telemedicine services to the patients, thereby to increase growth of the video telemedicine market in near future.
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Market Dynamics- Drivers
Growing need for delivering healthcare services to increasing geriatric population, growing dearth of physicians, and increasing prevalence of chronic diseases are expected to drive growth of the global video telemedicine market during the forecast period. Moreover, increasing adaptation of mobile phones, smartphone, and tablet into healthcare IT segment facilitating technology penetration and incorporation of big data to allow more efficient, more effective, and improved operational efficiency in telemedicine services, which in turn, is expected to drive the global video telemedicine market growth in the near future.
According to the World Health Organization (WHO), around 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all global deaths. Chronic obstructive pulmonary disease (COPD) is a chronic lung disease, accounting for 3 million deaths in 2015, according to the same source. The 2016 Physician Supply and Demand Report, released by Association of American Medical College (AAMC), projects the significant physician shortfall, in the U.S. between 2014 and 2025, which is ranges between 61,700 and 94,700.
However, to generate good future prospects for video telemedicine market there is dire need for robust network, technological expert, and necessary communication infrastructure, which is expected to restrain growth of the global video telemedicine market during the forecast period, especially in emerging economies. Healthcare Information and Management Systems Society (HIMSS) made request in 2017 U.S. Congressional Asks, to pass the Creating Opportunities Now for Necessary and Effective Care Technologies (CONNECT) for Health Act. The act is intended to significantly remove hurdles to telemedicine expansion in Medicare, by allowing more telehealth experiments using alternate payment models and incentive programs. The HIMSS aims to increase funding for broadband expansion in rural areas through this step.
Global Video Telemedicine Market Taxonomy:
On the basis of deployment, global video telemedicine market segmented into:
- On-premise video conferencing
- Cloud-based video conferencing
On the basis of component, global video telemedicine market segmented into:
On the basis of application, global video telemedicine market segmented into:
- Others (Orthopedics, Pathology, etc.)
On the basis of communication technologies, global video telemedicine market segmented into:
- Broadband ISDN
- Satellite communication
On the basis of end user, global video telemedicine market segmented into:
- Home Care services
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Video telemedicine to become effective tool as in-person care for Parkinson’s disease
According to the study published in Neurology Journal, in April 2017, video telemedicine is expected to become a new tool to improve care for people suffering from Parkinson’s disease and essentially for those patients who do not have easy access to a neurologist. Moreover, the study finding shows that video telemedicine for chronic disease such as Parkinson’s disease is more effective than in-patient care. Furthermore, the broader adaptation of technology has a potential to expand the access to patient-centered care facilities.
Major companies operating in the global video telemedicine market are Huawei technologies Co. Ltd., Polycom Inc., Vidyo Inc., Adobe Systems Incorporated, Cisco Systems, Inc., Avaya Inc., ZTE Corporation, West Corporation, and Microsoft Corporation.
Table of Content
Global Video Telemedicine Market Research Report
Section 1: Global Video Telemedicine Industry Overview
Section 2: Global Economic Impact on Video Telemedicine Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Video Telemedicine Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Video Telemedicine Market Forecast
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