5th Floor, Brigade Towers,
Financial District, Gachibowli,
Hyderabad - 500032,
The Telemedicine Market is segmented by Type (Telehospitals, Telehomes, and mHealth (mobile health)), Component, Mode of Delivery, and Geography.
Fastest Growing Market:
The telemedicine market is expected to witness a CAGR of 18.50% during the forecast period, and the major factors for the growth of the telemedicine market include the rising healthcare costs, technological innovations, increasing remote patient monitoring, and growing burden of chronic diseases.
As per the scope of this report, telemedicine services and systems have made the most progress in remote management of post-acute care patients with chronic conditions. Telemedicine is the remote delivery of healthcare services, such as consultations over telecommunication or teleconference, and it allows healthcare professionals to evaluate, diagnose, and treat patients.
|mHealth (mobile health)|
|By Mode of Delivery|
Report scope can be customized per your requirements. Click here.
The rise of chronic diseases is a global concern that puts a strain on healthcare resources. Telehomecare is an innovative way to provide care, monitor a patient, and provide information, by using the latest technology in telecommunication. Monitoring allows early identification of disease, and thus, preventing chronic conditions.
Telehomecare programs are also initiated in countries, including whole system demonstrator (WSD) project in the United Kingdom, veterans health segmentation (VHA) project in the United States, and TELEKART program in Denmark. These telehomecare programs manage, reduce, and avoid chronic diseases by remote monitoring of patients. The universities are collaborating well to promote the tele-homecare, such as University of Ottawa Heart Institute has been making good progress in telehome monitoring technology, which offers services for various regions, under the regional home monitoring program for cardiac patients. Telehome services provide an opportunity for significant savings for patients and hospitals. Thus, the increasing adoption rate of telehomecare services is directly affecting the growth of the telemedicine market.
To understand key trends, Download Sample Report
Telemedicine is a rapidly growing component of healthcare in the United States. Treatment of chronically ill patients constitutes nearly four-fifths of the healthcare spending in the United States. The adoption of telemedicine has improved care management, patient quality of life, and reduced healthcare spending.
The rising demand for mobile technologies, coupled with the rising adoption of homecare by patients and reduction in hospital visits, is expected to propel the growth of the market over the forecast period. Healthcare in the United States is experiencing positive trends, with the emergence of telemedicine applications that help Americans to be active in personal health management. Smartphones and the presence of mobile technology make it possible to use both clinical and lifestyle applications, in order to help, educate, and change health behaviors. More Americans are now using mobile health applications. It is estimated that through mobile applications, 60% of adults monitor their weight, diet, and exercise; 33% of track blood glucose, headaches, sleep patterns, blood pressure, and chronic pain; and seven out of 10 Americans track at least one health indicator.
The extensive consumer interest in, and adoption rate of, telemedicine and mobile health applications, such as wearable technology (bands and watches) that monitor and report throughout the day, is supporting the market growth by driving the digitalization and converting conventional forms of healthcare management to connected and remote healthcare.
To understand geography trends, Download Sample Report.
The market studied is moderately competitive, owing to the presence of many small and large market players. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence, by introducing new products with fewer prices. Companies, like Allscripts Healthcare Solutions Inc., BioTelemetry, Medtronic, and Philips, hold significant market shares in the telemedicine market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Technological Innovations
4.2.2 Increasing Remote Patient Monitoring
4.2.3 Growing Burden of Chronic Diseases
4.3 Market Restraints
4.3.1 Legal and Reimbursement Issues
4.3.2 High Initial Capital Requirements and Lack of Physician Support
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.3 mHealth (mobile health)
5.2 By Component
18.104.22.168 Other Components
22.214.171.124 Other Services
5.3 By Mode of Delivery
5.3.1 On-premise Delivery
5.3.2 Cloud-based Delivery
5.4.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
5.4.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Aerotel Medical Systems (1998) Ltd
6.1.2 Allscripts Healthcare Solutions Inc.
6.1.3 AMD Global Telemedicine Inc.
6.1.5 Resideo Technologies Inc. (Honeywell Life Care Solutions)
6.1.6 InTouch Technologies Inc.
6.1.7 Koninklijke Philips NV
6.1.8 Medtronic PLC
6.1.9 SHL Telemedicine
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments