Telemedicine is a telecommunication technology for providing remote clinical healthcare services. Telemedicine services provide a real-time two-way communication between the patient and healthcare professional, by using electronic audio and visual means. Some of the prominent trends that the Telemedicine Market is witnessing include an upsurge in the adoption of electronic health records and an increasing vendor focus on home-based wellness tools. The deployment of telemedicine has significantly changed the healthcare paradigm, decreasing the overall cost and increasing the efficiency of medical care.
The end-users of the telemedicine market are telehospitals/teleclinics and telehome. The telehospitals/teleclinics accounted for the highest revenue, capturing XX% of the share in 2016. However, the telehome segment is expected to grow at a faster rate during the forecast period due to rising inclination towards personalized home-based healthcare tools.
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The dearth of healthcare professionals in rural and remote areas provides telemedicine an opportunity to spread its reach to millions of patients worldwide, delivering improved products with higher patient satisfaction.Telemedicine applications are surging due to the high prevalence of chronic diseases and hypertension, rising smartphone users, growing geriatric population, and a consistent need for improved quality services at an affordable rate. Moreover, the rising medical tourism and increasing government initiatives and funding are expected to propel the growth of the Global Telemedicine Market.
Some of the key factors inhibiting the market growth include high technological cost, lack of resources and trained professionals, privacy and security concern as well as inadequate healthcare infrastructure in developing economies. A major limitation is training the older generation of doctors currently working in the healthcare industry and convincing them to adopt telemedicine in practice. As a result, it is believed that the full market potential of telemedicine can be tapped only after the next generation of doctors takes over the medical industry and that is expected to take another couple of decades.
The Global Telemedicine Market is fragmented on the basis of technology, specialty area, and service.
The North American region is by far the largest in the global telemedicine market and is expected to continue its dominance across the globe. The European Market, segmented into the United Kingdom, Germany, France, Italy, Spain, and rest of Europe, is the second leading market for telemedicine. In the coming years, however, the telemedicine market is expected to witness the highest growth in the Asia-Pacific region, with special emphasis on India, China, and Japan. The Middle East & Africa regional market is also expected to witness a significant growth in the near future, mainly due to lack of strict guidelines for the practice and improving access to healthcare services.
Some of the key players in the market include Aerotel Medical Systems, Allscripts Healthcare Solutions, AMD Global Telemedicine, Biotelemetry Inc., Cardiocom, Honeywell Lifesciences, Intouch Technologies, and Lifewatch.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
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Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
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