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The market is segmented by Type, Component, Mode of Delivery, and Geography
North America Telemedicine market is driven by a number of factors such as high incidences of chronic diseases, rising healthcare costs, technological innovations, increase in aging population and rising awareness regarding remote patient monitoring. With the increasing aging population and prevalence of chronic diseases, there is an increasing need for finding new ways to improve patient outcomes, which increase access to care and reduce the cost of medical care as well. However, this market faces certain drawbacks, such as legal & reimbursement issues, advanced technology leading to higher costs, lack of physician support and poor cases of implementation.
Telemedicine allows healthcare professionals to evaluate, diagnose, and treat patients in remote locations using telecommunication technology. It provides an opportunity to the patients, especially in remote locations, to access medical expertise in a quick and efficient manner. Though the idea of telemedicine was conceived a long time ago, its importance has increased significantly over the past few years. Reducing healthcare costs and providing better ways of communication between doctors and patients are the main objectives behind the application of telemedicine in the healthcare sector.
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Mobile health refers to the practice of maintaining the medicine and public health, supported by mobile devices. Mobile health service has emerged in recent years largely, as an application for developing countries. It is expected that the number of home monitoring systems, with integrated communication capabilities, may grow in the coming years at a high growth rate. mHealth service uses mobile telecommunication and multimedia technologies for healthcare delivery. These mHealth apps use mobile devices in collecting medical data and delivering it to healthcare practitioners. Most of the Americans are now using mobile health applications. According to recent surveys conducted by the Pew Internet & American Life Project, currently, 9% of all mobile phone users in the United States have downloaded an app to track or manage their health. 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, are supporting the market growth by driving the digitalization and converting conventional forms of healthcare management to connected and remote healthcare.
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Many players in this market are trying to expand their product portfolio in order to top the global market. While few companies are entering into the market by acquisitions, top companies are expanding their growth in this market by acquiring other companies. Few companies adopted product innovation and new product launches as its key business strategy to ensure its dominance in this 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 Technological Innovations
4.2.2 Enabling Remote Patient Monitoring
4.2.3 Rising Prevalence of Chronic Diseases
4.3 Market Restraints
4.3.1 Legal and Reimbursement Issues
4.3.2 Advanced Technology Resulting in Expensive Healthcare Services
4.4 Porter's Five Force 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
5.3 By Mode of Delivery
5.3.1 On-premise Delivery
5.3.2 Cloud-based Delivery
5.4.1 North 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
** Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments