2018 Study: The Global Market for Telemedicine was Valued at $29.6 Billion in 2017 and is Anticipated to Grow at a CAGR of 19% During 2017-2022 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global
Telemedicine Market Outlook 2022”
report has been added to ResearchAndMarkets.com’s
offering.

The market for telemedicine was valued at US$ 29.6 Billion in 2017 and
is anticipated to grow at a CAGR of approximately 19% during 2017-2022.

The growth of the market is likely to be driven by increasing adoption
of telemedicine, rising incidences of chronic diseases, growing
geriatric population, government initiatives, and shortage of physicians
amongst others.

Based on end users, the report broadly categorizes telemedicine market
into Telehospitals/Teleclinics and Telehome. Telehospitals/Teleclinics
emerged as the major revenue earners of the industry, holding the
largest share.

The telehospitals market is further sub-divided into teleradiology,
telecardiology, telepsychiatry, and teledermatology amongst others,
based on Specialty. Teleradiology accounted for the largest share of the
telehospital market by Specialty. This large share of the market is
attributed to wide usage of this technology for transferring patient’s
medical reports.

Based on component, the telemedicine market is further categorized into
services, hardware, software, and telecom and networking. The
telemedicine service market accounted for largest share in the total
telemedicine market in 2017.

Some of the key players operating in the market are McKesson
Corporation, Philips Healthcare, GE Healthcare Ltd., Cerner Corporation,
IBM, Honeywell Life Care Solutions, AMD Global Telemedicine, Inc., Cisco
Systems, Inc., and Medtronic plc.

Market Dynamics

Drivers

  • Enabling Remote Patient Monitoring
  • Combating Doctor Shortages with Telemedicine
  • Strong Government Support in the US
  • Ability of Telemedicine to Reduce Healthcare Cost
  • Rising Adoption of Tele-health in Developed Economies
  • Increasing Prevalence of Chronic Diseases
  • Growing Geriatric Population

Restraints

  • High Cost
  • Legality, Privacy, and Security Concerns
  • Relatively Low Adoption of Telemedicine in Developing Countries
  • Lack of Proper Regulatory Framework

Opportunities

  • Personal Emergency Response Systems (PERS)
  • Video Diagnostic Consultation
  • Remote Cardiac Services
  • More ACOs Using Technology to Improve Care and Cut Costs
  • Expanding Reimbursement and Payment Opportunities

Trends

  • Increasing Number of Retail Clinics and Employer Onsite Health Centers
  • Emergence of Remote Clinical Enterprises

Key Topics Covered

1. Analyst View

2. Research Methodology

3. Telemedicine: An Introduction

4. Market Dynamics

5. Global Telemedicine Market

6. Global Telemedicine Market by End-Users

7. Global Telemedicine Market by Component

8. Global Telemedicine Market by Geography

9. Mergers & Acquisitions

10. Companies Profiled

  • McKesson Corporation
  • Philips Healthcare
  • GE Healthcare Ltd.
  • Cerner Corporation
  • IBM
  • Honeywell Life Care Solutions
  • AMD Global Telemedicine Inc.
  • Cisco Systems Inc.
  • Medtronic PLC

For more information about this report visit https://www.researchandmarkets.com/research/5grc28/2018_study_the?w=4

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