Telemedicine Market Highlights:
Increasing adoption of Electronic Health Record (EHR)/ Electronic Medical Record (EMR), rising prevalence of chronic diseases like diabetes, cancer, besides others followed by a dearth of physicians in the presence of increasing healthcare services demands drives the global telemedicine market. However, the high cost of implementing telemedicine systems and the need for training along with stringent government regulations is estimated to restraint the market growth during the projected period 2018 to 2023.
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.
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Telemedicine Market Key Players:
The key players for the Global Telemedicine Market are 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 Ltd., and others.
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, telepharmacy, teleradiology, teledermatology, 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.
Telemedicine Market Regional Analysis:
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.
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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.
BRIEF TOC FOR TELEMEDICINE MARKET REPORT:
1. Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
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