Global telemedicine market size Predicted from 2018 to 2021A Story by sumit choudhari Telemedicine serves as a provision for various remote clinical services. This involves the application of a variety of electronic, audio, and visual means.
Telemedicine
serves as a provision for various remote clinical services, which incur with
the help of real-time, two-way communication between the patient and the
healthcare provider. This involves the application of a variety of electronic,
audio, and visual means. Increasing adoption of electronic health record (EHR)/
electronic medical record (EMR) is a major driver for market growth during the
forecast period. Office of the National Coordinator for Health Information
Technology (ONC) stated that in 2015 about 64% of the physicians used
electronic health record (EHR) with the capability to exchange secure messages
with patients. The noted increase was over 50% from 2013. Moreover, the
increasing prevalence of chronic diseases like diabetes, cancer, besides others
and a dearth of physicians in the presence of increasing health care services
demands boosts the market growth. According to the National Cancer Institute in
2016, an estimated 1,685,210 new cases of cancer were diagnosed in the U.S., and
about 595,690 died from the disease. Additionally, a study published in the
Journal of Medical Internet Research stated that the Chinese American
Physicians E-Hospital became operable in 2015. This E-hospital provides online
customer service from the initial teleconsulting to international transfer and
treatment for Chinese individuals around the world. However, the high cost of
implementing telemedicine systems, i.e., EMR & EHR and need for
telemedicine training followed by stringent government regulations pertaining
to telemedicine are estimated to restraint the market growth during the
forecast period. Additionally, another data from ONC in 2014 stated that the
estimated cost of purchasing and installing an electronic health record (EHR)
ranges from USD 15,000 to USD 70,000 per provider which affect the
affordability of the devices and hence is expected to influence the market
negatively.
Global Telemedicine market
is expected to grow at a CAGR of 16.8% and reach USD 56,738.3 by 2023. Intended Audience ·
Pharmaceutical companies ·
Biotechnological institutes ·
Government and Private Laboratories ·
Research and Development (R&D)
Companies ·
Medical Research Laboratories ·
Market Research and Consulting Service
Providers Telemedicine
Market Segmentation: The global telemedicine market is segmented on the
basis of service type, component, deployment, application, and end user. On the basis of the service type, the market is segmented into telenursing, tele pharmacy, teleradiology, tele dermatology, tele-oncology, others. On the basis of the component, the market is categorized into software and hardware. The software segment is sub-segmented into integrated software and standalone software. The hardware segment is sub-segmented into monitors and medical peripheral devices. On the basis of the deployment, the market is segmented into cloud-based and on premises. On the basis of the application, the market is segmented into cardiology, ophthalmology, psychiatry, radiology, dermatology, and others. On the basis of the end user, the market is segmented into hospitals, clinics, home care. Competitive
Dashboard: AMD Global Telemedicine Inc CardioNet CareClix Cerner Corporation Cisco GENERAL ELECTRIC IBM Corporation Intel Corporation Iris Telehealth Koninklijke Philips N.V. Medtronic SHL Telemedicine, TeleVital Aerotel Medical Systems Allscripts Healthcare Solutions Cardiocom Honeywell Lifesciences Tunstall Healthcare Care Innovations Medvivo Group Ltd. Aerotel Medical Systems Lt Regional
Outlook: The Americas dominate the
global telemedicine market due to the presence of a well-developed healthcare
sector, increasing adoption of healthcare IT. According to the Centers for
Disease Control and Prevention in 2017, approximately 86.9% of the office-based
physicians used EMR/EHR system Moreover, rising
healthcare expenditure and presence of major players within the region boost
the market growth. Europe stands second in
the global telemedicine market owing to increasing adoption of new of new
technologies in the healthcare sector and increasing government support to
address the healthcare demands. According to the Parliamentary Office of
Science and Technology in 2016, the Integrated Digital Care Fund awarded
approximately 63 million to NHS Trusts for facilitating the adoption of
electronic health records. On a regional basis, Europe is divided into Western
Europe and Eastern Europe. Western Europe leads the market in the developed
economies like Italy, U.K, France, and others. Asia Pacific is estimated
to be the fastest growing region due to a huge patient pool and growing
telemedicine sector. Moreover, the presence of continuously developing
economies like India, China and Australia within the region fuels the market
growth. According to the Indian Brand Equity Foundation in 2017, telemedicine
sector was estimated to be a fast emerging sector in India. The Indian telemedicine
market is estimated to reach USD 32 million by 2020. The Middle East & Africa has the least share in the global telemedicine market due to the presence of poor economies, lack of healthcare services and stringent government policies, especially within the Africa region. It is estimated that a majority of the market of the Middle East & Africa is held by the Middle East. This can be attributed to the due to the presence of a well-developed healthcare sector and huge healthcare expenditure within the region. Major
Table of Contents: Chapter
1. Report Prologue Chapter
2. Market Introduction 2.1 Definition 2.2 Scope of The Study 2.2.1 Research Objective 2.2.2 Assumptions 2.2.3 Limitations Chapter
3. Research Methodology 3.1 Introduction 3.2 Primary Research 3.3 Secondary Research 3.4 Market Size Estimation Chapter
4. Market Dynamics 4.1 Drivers 4.2 Restraints 4.3 Opportunities 4.4 Challenges 4.5 Macroeconomic Indicators 4.6 Technology Trends & Assessment Chapter
5. Market Factor Analysis 5.1 Porter’s Five Forces Analysis 5.1.1 Bargaining Power of Suppliers 5.1.2 Bargaining Power of Buyers
TOC
Continued….! © 2018 sumit choudhariAuthor's Note
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Added on November 21, 2018 Last Updated on November 21, 2018 Tags: Telemedicine Market Size, Telemedicine Technology, Telemedicine Market, Telemedicine Industry, Telemedicine Market Trends Author
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