The European telemedicine market grew from $3.1 billion in 2010 to $4.8 billion in 2011 and will almost triple to $12.6 billion in 2019 at a CAGR of 12.82% over the next five years.
Telemedicine services are used in several medical areas including diabetes control, primary health care, psychiatry, genetics, radiology, pathology, cardiology etc.
The major driving force for this market is increasing aged population, rising cost of healthcare, rising prevalence of chronic diseases. Technological innovations and advancements fuels the market growth. Major market constraints are developing and underdeveloped nations which lack sufficient resources for the telemedicine market. High technological costs, Lack of physician support, and poor cases of implementation are the major constraints for the market.
Market segmentation is done based on type( Telehospitals and clinics, Telehome), based on Technology(Hardware, Software, Telecom, Services), based on Clinical applications( Teleconsultation, Telepathology, Telecardiology,Telesurgery, Teleradiology, Teledermatology), and based on geography(France, Italy, Germany)
Some of the key participants in the global telemedicine market include Aerotel Medical Systems Limited, AMD Telemedicine, Johns Hopkins Medicine, Mennen Medical Corp., NightHawk Radiology Services LLC, Philips Healthcare, SHL TeleMedicine Ltd., Siemens Healthcare, Polycom, TANDBERG, TeleVital Inc., Templeton Readings LLC, United Therapeutics Corporation, Welch Allyn Protocol, Inc. and WorldCare International Inc., among others.
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