The global market for telemedicine technologies was valued at USD 22.5 billion in 2015 and is expected to reach USD 77.2 billion by 2022f, growing at a CAGR of 19.4% during the forecast period of 2016e to 2022f. Telemedicine is also referred as telehealth or e-health. Telemedicine involves the use of telecommunications technology to deliver medical information or services to patients or other users at a distance from the provider and is a rapidly growing field of clinical medicine. Telemedicine is one of the fastest growing sectors in healthcare. Telemedicine allows healthcare professionals to evaluate, diagnose and treat patients in remote locations by using telecommunications and information technology as medium of communication between patients and doctors. Telemedicine enables patients in remote locations to access medical expertise easily, efficiently and without travel. Telemedicine provides more efficient use of limited expert resources to monitor patients in remote locations whenever it is required without leaving their facility. In addition, this technology helps local practitioners to consult with their peers and with other clinical experts when it is required. Telemedicine further allows them to participate in seminars and educational conferences.
The global telemedicine market is primarily driven by pressure to reduce healthcare costs, increased use of mobile devices for healthcare and increase in government funding. In addition, rise in base of geriatric population, increased medical treatments in remote locations, technological advancements and rise in demand for quality healthcare further propelling the growth of this market.
Despite the presence of several drivers, the market for telemedicine is facing some challenges and a major challenge is the lack of common standards. The specific standards of telehealth applications for various medical service segments still needs to be defined appropriately by healthcare administrators in various countries. Another challenge is the management of large volume of data that is increasing exponentially as a result of advances in telehealth technology. Geographically in 2015, the market for telemedicine is led by North America and is followed by Europe and APAC. Strong regulatory support, early adoption and consumer awareness made US, the leading country for telemedicine market.
The report delivers a strategic analysis of the global market for telemedicine technologies, and growth forecast for the period from 2016e – 2022f. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type of service area and application areas. It also covers geographical analysis of the market with growth forecast for the period of 2016e – 2022f. The Porter’s Five Forces analysis, value chain analysis and competitive analysis included in the report provides an insight into market dynamics and industry competition.
The study also provides information for growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry, financial analysis and various business strategies adopted by them. This report will help players in global telemedicine technologies market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.
The company profile section include detailed analysis of some of the key players such as Aerotel Medical Systems, McKesson Corporation, Cerner Corporation, AMD Telemedicine, GE Healthcare, Plycom, and Honeywell Life Care Solutions.