The Global Telemedicine Market is expected to grow at a CAGR of 16.5% during the forecast period.
Telemedicine or telehealth comprises of the distribution of health services and information electronically or via telecommunication technologies. The high potential of telemedicine is being eyed by a number of experts. For example, Nokia Technology President Ramzi Haidamus stated that future could lie with digital health. He supported Nokia’s decision to invest in connected health. “We’re looking at digital health domain, where we have not launched any products and is something that comes very natural to Nokia” he said in 2016.
Telemedicine takes advantage of rapid strides in the communication technology so as to allow healthcare professionals to provide cost effective healthcare, supervision, distance-learning to the patients, reduce wastage and need for physical appointment, increasing efficiency of healthcare practitioner’s time and others. Overall healthcare system integration and cutting the scarcity of healthcare professionals through the world are other consideration of the technology.
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Market dynamics of Global Telemedicine Market
The drivers for the telemedicine market are increase in the demand for healthcare services in rural areas, rise in government initiatives to cater the health needs of rural population, availability of well-developed information technology infrastructure, rising number of telemedicine services provider and others.
The market restraints are high installation cost, poor connectivity in under developed regions, low quality networks especially in developing nations across the globe, lack of awareness and others.
However the rise of mobile connections will trump all factors. The last decades has witnessed an explosive growth in the number of smartphone and tablet users. Another example can be seen in the falling divide for smartphone ownership between developing and developed economies. Smartphone ownership rates in emerging and developing nations climbed from a median of 21% in 2013 to an eye watering 37% in 2015.
Industry News and Analysis
GlobalMed acquired TreatMD in 2016. TreatMD will help GlobalMed to connect patients and physicians around the world. The deal will create synergy between direct-to-consumer telemedicine technologies of TreatMD coupled with client to client based telemedicine technology of GlobalMed.
In 2016, Medvivo a telemedicine company acquired Expert 24 with a primary goal of expanding its product lines and regional distribution throughout the UK, Europe, and the United States.
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The strategy of most players revolve around
- Garnering distribution expansion so as to develop the market as well as gaining distribution efficiencies.
- Expansion of product lines and product weightage and gain a complete line so as to make the company a one stop destination
- Achieving synergies between in-house and acquired technologies with an aim to increase returns on investment through technological gains.
Key players in the Global Telemedicine Market
Key players profiled in the report are Koninklijke Philips N.V. (The Netherlands), Medtronic (Ireland) AMD Telemedicine Technologies (U.S.), General Electric Company (U.K.), Neusoft Corporation (China), McKesson Corporation (US) , Intel (US), and IBM (US).
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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