The global telemedicine market is experiencing massive growth across the globe on account of extensive use of healthcare IT solutions, improved telecommunication infrastructure, and high demand for primary care services across the globe. Furthermore, rising prevalence of chronic diseases and technological advancement in the healthcare fuel the market growth. High installation cost of telemedicine solutions and availability of internet services in rural areas may restrain the market growth.
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In the past, hospitals and doctor’s offices that employed telemedicine were needed to dedicate space and bandwidth to get online. Today, the technology that powers telemedicine is portable and doctors can use computers and tablets, while patients are also aided by devices that fit in a convenient cart or package that is fully mobile. These increase in efficiency have been at the forefront of making telemedicine an everyday clinical solution. Now that the technological barriers have been lowered, the applications related to treating patients in rural communities as well as globally are being fully realized.
New advances in technology and an increased adoption of online social interactions are helping create new clinical opportunities through the use of telemedicine. Even in the early 1990’s when telemedicine was being used by healthcare practitioners for mostly pilot projects, the idea may have outpaced the technology.
One of the first and most important opportunity of telemedicine is providing front line care. One way telemedicine can reach its full potential is when it’s offered as a covered benefit in a health plan.
Moreover, as telemedicine is a powerful tool for chronically ill patients. These patients consume the most expensive medical services, and they are usually not the patient’s categorising into today’s wave of telehealth apps. These patients drive cost trends for the entire health system and are the central focus of those at financial risk for their care. The rapid expansion of healthcare IT is providing impetus to the growing field of telemedicine.
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Global Telemedicine Market – Competitive Analysis
Koninklijke Philips N.V. (The Netherlands), Medtronic (Ireland), AMD Telemedicine Technologies (U.S.), General Electric Company (U.K), Neusoft Corporation (China), McKesson Corporation (U.S.), Intel (US), IBM (U.S.), and others are some of the prominent players at the forefront of competition in the global telemedicine market and are profiled in MRFR Analysis.
Oct, 2017- Medtronic Care Management Services and American Well announced strategic partnership to integrate telehealth capabilities. Medtronic Care Management Services (MCMS) business and American Well entered into a first of its kind strategic partnership to enable a more complete telehealth solution focused on the unique needs of the complex, chronic, co-morbid patient population. Medtronic Care Management Services (MCMS) and American Well’s strategic partnership will bring key components of telehealth services together, as the main goal is reducing the cost of care and improving patient outcomes. The use of telehealth solutions is increasing exponentially due to the increasing complex, chronic, co-morbid patient population whose multiple disease diagnoses require ongoing attention from several clinical specialties, and whose care drives more than 70% of total U.S. healthcare spending.
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Global Telemedicine Market – Regional Analysis
Asia Pacific shows phenomenal growth in the telemedicine market and is expected to be the fastest growing region due to increasing patient population which will create opportunities for market growth. Moreover, increasing prevalence of chronic diseases, developing telecommunication technology as well as developing healthcare infrastructure are fuelling the market growth potential.
Furthermore, due to China’s emphasis on economic growth and its huge population, it is expected to become the leading telemedicine market in Asia Pacific region. Moreover, increased availability of wireless data transmission networks will facilitate the development of platforms for telemedicine in China.
1. Report Prologue
3. Research Methodology
4. Market Dynamics
5. Market Factor Analysis
6. Global Telemedicine Market By Type
7. Global Telemedicine Market By Technology
8. Global Telemedicine Market By Application
9 Global Telemedicine Market By End User
10. Global Cell Counting Market By Region
11 Company Profile
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