mordor report
Published

May 2016

Global Telemedicine Market - Growth, Trends and Forecasts (2016-2021)

Purchase Report
$4250
Single user license
$4500
Team license
$8750
Corporate license
Add to Cart - Single User Licence

In the year 2015, the global telemedicine market was estimated to be worth around USD 23,224 million and is expected to reach USD 66,606 million by 2021 with an estimated CAGR of 18.8% during the forecast period (2016-2021). The huge growth expected in the telemedicine market during the forecast period is mainly due to the potential of telemedicine in revolutionizing healthcare delivery. Telemedicine can offer instant deliver healthcare services at anytime from anywhere in the world.

Even though the growth of this market during the forecast period looks huge, the size of this market is still small. This is not because of limitations of this technology, instead is due to the limitations in adoption of this technology. One such major limitation is the availability of doctors working in the healthcare industry. Majority of the doctors who currently work in hospitals and clinics worldwide are in their mid-forties or fifties and have spent most of their careers using conventional means of treating people. Training old generation doctors and convincing them to use telemedicine is a huge task, which most industry experts feel that can never be accomplished. Hence, the full market potential of telemedicine can be tapped only through the next generation of doctors who take over the healthcare industry and this process is expected to take at least another couple of decades.

Constant technological innovation combined with the increasing remote patient monitoring and increasing use of treatments that require long follow-up are currently driving this market. Legal & reimbursement issues along with the high cost of technology and the lack of physician support, combined with poor cases of implementation, are currently hindering the growth of this market.  

In this report, the global telemedicine market has been segmented by type, technology, specialty area, and end-users. The market has been further segmented by type into telehospitals/clinics, telehome, m-health (Mobile Health). By technology, the market has been further segmented into hardware, software, and telecommunications. By specialty, the market has been segmented into      general consultation, cardiology, dermatology, neurology, gynecology, trauma care, ophthalmology, orthopedics, psychiatry, pathology, general surgery, and others. While hospitals, clinics, patients, among others, form the end-user segment.

By geography, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and, South America. The North America market has been further segmented into the United States, Canada, and Mexico. While the European market has been segmented into the United Kingdom, Germany, France, Italy, Spain, and Rest of Europe. The Asia-Pacific market has been further segmented into India, China, Japan, South Korea, Australia, and Rest of Asia-Pacific. The Middle East & Africa (Mena) market has been further segmented into GCC, Egypt, and South Africa. While the South American market has been further segmented into Brazil, Argentina, and the Rest of South America.

Currently, the key challenge being faced by this market is the lack of infrastructure in the emerging markets required for installing and using telemedicine. However, this market has got some great opportunities for companies that can simplify the technology and process involved in using telemedicine, which can drastically increase the rate of adoption.

There are several major players operating in this market. Some of them include Aerotel Medical Systems, Allscripts Healthcare Solution, AMD Global Telemedicine, BioTelemetry, Inc., Cardiocom, Honeywell Lifesciences, Intouch Technologies, LifeWatch, Mckesson Corporation, Medtronic, Philips, and SHL TeleMedicine Ltd.

Key Deliverables of the study

  • Market analysis for the global telemedicine market, with region-specific assessments and competition analysis on the global and regional scales.
  • Market definition along with the identification of key drivers and restraints.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on the global and regional scales.
  • Extensively-researched competitive landscape section with profiles of major companies and their market shares.
  • Identification and analysis of the macro and micro factors that affect the global wearable medical devices market on both the global and regional scales.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
  • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
  • Insights on the major countries/regions where this industry is blooming and identifying the regions that are still untapped.
RELATED REPORTS

Confused about which report to get?

Download a full report to understand our capabilities
Purchase Report
$4250
Single user license
$4500
Team license
$8750
Corporate license
Add to Cart - Single User Licence
Our Clients Include View All

Looking to Customize Report?