Telemedicine Market: Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2021
Market Benefits
The global market for telemedicine is expected to grow at a significant pace during the forecasting period. Telemedicine is a telecommunication technology for providing remote healthcare services through real-time two-way communication between the healthcare provider and patient, by using electronic audio and visual means. The deployment of telemedicine has significantly changed the healthcare paradigm, due to various technological innovation in the field of medical device and services. The growing geriatric population coupled with rising prevalence of chronic diseases, dearth of healthcare professionals worldwide, improvements in telecommunication infrastructure, and need for affordable treatment options due to rising healthcare costs are some of the factors expected to propel the growth of telemedicine market in the coming years. Some of the key factors inhibiting the growth of telemedicine market include lack of skilled and trained professionals in the remote areas, privacy and security concern and availability of telecommunications bandwidth.
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Top Players:
Global Telemedicine Market - Company Profiles and Recent Developments
- McKesson Corporation
- Philips Healthcare
- GE Healthcare Ltd.
- IBM
- Cerner Corporation
- AMD Global Telemedicine, Inc
- Cisco Systems, Inc
- Honeywell Life Care Solutions
- Medtronic plc
Data Sources
Amigo Market Report employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by Amigo Market Reports dedicated team of qualified professionals with deep industry experience and expertise.
Research Methodologies
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.
Telemedicine Market Analysis by Region - Geographically, the global telemedicine market is dominated by North America and Europe. North America accounted for lion's share of the total telemedicine market on account of high demand for technologically advanced products. Europe is the second leading market for telemedicine and is likely to maintain its position throughout the forecasting period. In the coming years, the telemedicine market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on India, China, and Japan.
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Market Segments:
By End-Users Global Telemedicine Market Analysis - Based on end users, the telemedicine market has been segmented into Telehospitals/Teleclinics and Telehome. The telehospitals/teleclinics segment accounted for highest revenue in 2016. However, telehome segment is estimated to grow at the fastest rate during the forecasting period because of the rising inclination towards personalized healthcare.
By Specialty Global Telehospitals/Teleclinics Market Analysis - In 2016, Teleradiology accounted for maximum share of the telehospitals market by specialty, driven by wide usage of this technology for transferring patient's medical reports. The introduction of technology-enabled, accurate, and real-time medical imaging devices favor their application in hospitals, particularly for emergency cases. Telecardiology is the second largest application of the telehospitals market being followed by Telepsychiatry with XX% share in 2016. The Telepathology segment stands at the fourth spot while Teledermatology captures least share of the global telehospitals/teleclinics market.
By Component Global Telemedicine Market Analysis - In terms of component, the services segment commands the largest share of the global telemedicine market. The software segment is an integral part of telehealth solutions and works as an interface between the database and end users. The software segment is expected to witness the highest growth during the forecast period.
Global Telemedicine Market and Forecast - by End-Users (2009 - 2021)
- Telehospitals/Teleclinics
- Telehome
Based on Specialty Telehospitals/Teleclinics market is further segmented into
Teleradiology
Telecardiology
Telepsychiatry
Telepathology
Teledermatology
Others
Global Telemedicine Market and Forecast - by Component (2009 - 2021)
- Services
- Hardware
- Software
- Telecom and Networking
Global Telemedicine Market and Forecast - by Region (2009 - 2021)
- North America
- Europe
- Asia-Pacific
- Rest of the World
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