Global Telemedicine Market is expected to grow at a CAGR of 16.8% and reach USD 56,738.3 by 2023. 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.
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Key Players for Global Telemedicine Market
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.
Segments for Global Telemedicine Market
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.
Regional Analysis for Global Telemedicine Market
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
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.
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.
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Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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