Global Telemedicine Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast to 2021
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.
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. Hardware is the third largest component of telemedicine market capturing XX% share in 2016, being followed by Telecom & Networking which holds XX% share in the same year.
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.
iGATE RESEARCH report titled “Global Telemedicine Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast to 2021” provides a comprehensive assessment of the fast-evolving, high-growth Global Telemedicine Market.
This 142 Page report with 42 Figures and 9 Tables has been analyzed from 9 viewpoints:
1. Global Telemedicine Market and Forecast (2009 - 2021)
2. Global Telemedicine Market Share and Forecast (2009 - 2021)
3. Global Telemedicine Market and Forecast - by End-Users (2009 - 2021)
4. Global Telehospitals/Teleclinics Market and Forecast - by Specialty (2009 - 2021)
5. Global Telemedicine Market and Forecast - by Component (2009 - 2021)
6. Telemedicine Market and Forecast - by Region (2009 - 2021)
7. Global Telemedicine Market - Mergers and Acquisitions (2013 - 2016)
8. Global Telemedicine Market - Driving Factors and Challenges
9. Global Telemedicine Market - Company Profiles, Revenue and Recent Developments
Global Telemedicine Market and Forecast - by End-Users (2009 - 2021)
Based on Specialty Telehospitals/Teleclinics market is further segmented into