Telemedicine Market Forecast Period(2018-2023):
According to the research report, the Global Telemedicine Market is Published by the Market Data Forecast. The market was estimated to grow from USD 35.46 billion in 2018 to USD 80.61 billion in 2023 with a compound annual growth rate (CAGR) of 17.85% over the next five years.
Telemedicine Market represents a small share in the healthcare market currently, it is one of the fastest budding sectors in the overall healthcare market. Although telemedicine programs have been in vogue for nearly half a century, the recent healthcare reforms have been instrumental in promoting the increased usage of such applications.
The increase in average age has resulted in elderly patients who need maximum healthcare; this is increasing the overall healthcare cost globally. Patients today are more aware and demand better healthcare services. The total number of healthcare professionals is not enough to meet needs of the increasing number of patients. With healthcare specialists spread across the globe, the teleconsultation–referrals–second opinion chain has expanded globally. Use of telemedicine helps in improving individual health with the assistance of electronic media. It also increases accessibility by tumbling the distance barriers between medical service providers and patients.
Increasing population, growing number of chronic diseases and rising cost of healthcare services are the significant key drivers for the growth of global telemedicine market. In addition, increased use of technology in healthcare conveyance and dearth of physicians in rural areas is foreseen to offer new prospect for growth of telemedicine market. On the other side, lack of trained and skilled professionals in the remote areas, dearth of consumer awareness about new-fangled technology and its uses are some of the key aspects inhibiting the growth of telemedicine market
Telemedicine Market Segmentation:
Technology
Service
Applications
Delivery mode
End User
Medical consultation services will keep on to be the most regularly used form of telemedicine used by physicians for escalating the outreach of their medical advice. The tele-monitoring segment will also enjoy an upward trend owing to the increasing diabetic and disabled population.
Regional Insights:
On the basis of geography, the market is analysed under various regions namely, North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America and Europe accounts for the major share of the market. This is owed to high acceptance for technology in these regions. Brazil, China, Russia and India are expected to show high growth rate due to increasing population and rising incidence of chronic diseases
Telemedicine players are focused on improving their technology offerings in terms of hardware, network, and software (i.e., enabling technologies). Healthcare companies are evaluating the return on investment (ROI) and clinical outcomes of the telemedicine technology. Tier I players are evaluating opportunities in telemedicine in the form of consolidation. Insurance companies are taking a realistic look at the ability of telemedicine to support e-healthcare and considerably improve the bottom line.
Major Companies Operating the Telemedicine Market:
Some of the major companies operating in the Telemedicine Market are AMD Global Telemedicine, GE Healthcare (U.K.), CISCO Systems, Inc., Medtronic, Inc., Honeywell Lifesciences, Aerotel Medical Systems, Philips healthcare, McKesson Corp, Cerner Corporation, CardioComm. Other players in the telemedicine market are Apollo Hospitals (India), 3M, Robert Bosch Healthcare, Neosoft (China), SnapMD (U.S.), Polycom Corp., F. Hoffmann-La Roche Ltd., InTouch Technologies, Inc., LifeWatch AG, OBS Medical Ltd., Siemens Healthcare, Agfa HealthCare NV, Allscripts Healthcare Solutions, Biotelemetry, Inc.
Scope of The Market Report:
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies.
Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The factors influential in effecting the market dynamics and trends are discussed in detail at the product level.
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 By Technology
5.1.1.1 Hardware
5.1.1.2 Software
5.1.1.3 Telecommunications
5.1.2 By Service
5.1.2.1 Tele-Monitoring
5.1.2.2 Store-and-Forward
5.1.2.3 Real-Time Interactive
5.3 By Applications
5.3.1 Tele-Cardiology
5.3.2 Tele-Radiology
5.3.3 Tele-Pathology
5.3.4 Tele-Dermatology
5.3.5 Tele-Neurology
5.3.6 Emergency Care
5.3.7 Home Health
5.3.8 Others
5.4 By Delivery Mode
5.4.1 Web-based
5.4.2 Cloud-based
5.4.3 Others
5.5 By End User
5.5.1 Tele-Hospitals
5.5.2 Tele-Homes
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Germany
6.2.4 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 GE Healthcare
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 AMD Telemedicine
8.3 CISCO Systems, Inc.
8.4 Medtronic, Inc.
8.5 Honeywell Lifesciences
8.6 Aerotel Medical Systems
8.7 Philips healthcare
8.8 McKesson Corp
8.9 Cerner Corporation
8.10 CardioComm
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
