Telemedicine or telehealth is the access and distribution of healthcare and information via electronic telecommunication.
It allows clinicians to communicate advice, educate, monitor and also provide distance-learning to the patients. It also facilitates supervision, and presentations between practitioners; including online information and health data management that is overall healthcare system integration.
The Global Telemedicine Market is expected to grow at a CAGR of 16.5% during the forecast period.
Market Dynamics of Global Telemedicine Market:
Unleashing communications advancements
Advances in telecommunication technologies, growing connectivity, and increasing adoption of smartphones and communication devices, growing bandwidth, developments of standard and secure protocols are the primary drivers of the market. The growing smartphone ownership rates have registered an increase of over 25 percentage points among the economies of Turkey, Malaysia, Chile and Brazil.
The secondary drivers are the economic attractions of falling cost of servicing additional customers by a preexisting network or platform, rising number of medical services provider and, and others. Cost saving due to leverage of technology and lower servicing costs due to optimization of travelling and physicians time is additional drivers.
Growing investments, IT mergers and acquisitions and start-ups are positive developments advancing the markets. For example, U.S. health IT investment registered a hefty growth from approximately 3 billion in 2013 to $7 billion in 2017.
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Key players in the Global Telemedicine Market
Key players profiled in the report are
- Koninklijke Philips N.V. (The Netherlands),
- Medtronic (Ireland)
- AMD Telemedicine Technologies (U.S.),
- General Electric Company (U.K.),
- Neusoft Corporation (China),
- McKesson Corporation (US)
- Intel (US)
- IBM (US)
The global telemedicine market is segmented on the basis of regions: The Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas accounts is the leading player in the global telemedicine market owing to an increasing demand for healthcare IT solutions, concentration of prominent market players, and availability of infrastructure for telemedicine.
Europe is experiencing a significant growth in the telemedicine market owing to the availability of funds from the Europe Union (EU) for telemedicine projects.
Asia Pacific shows phenomenal growth in telemedicine market and is expected to the fastest growing region as result of rising geriatric population and increasing prevalence of chronic diseases.
The Middle East & Africa also show a steady rise in the telemedicine market.
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Key Questions Answered In This Report
- What will the market size and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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