ALBANY, New York, May 3, 2018 /PRNewswire/ --
Transparency Market Research's latest report states that the global telemedicine technologies and services market is highly consolidated. The players are focused on making strategic partnerships to offer the best medical solutions to the remotest locations around the globe. For instance, in 2017 Medtronic Care Management Services (MCMS) and American Well are partnering to enhance their virtual medical solutions by coming talents and expertise. The key players shaping the competitive landscape of the global telemedicine technologies and services market are Aerotel Medical Systems Ltd., AMD Global Telemedicine, Inc., and GlobalMed.
According to the research report, the global telemedicine technologies and services market is expected to surge at a CAGR of 15% during the forecast period of 2017 and 2025. With this remarkable CAGR the global market is projected the reach a valuation of US$76,500 mn by 2025 from US$21,000 mn in 2016. Telemedicine technologies and services are applied in a variety of fields such as neurology, dermatology, gynecology, and cardiology. Analysts project that neurology segment is expected to be the rewarding one. From a geographic point of view, North America is expected to lead the overall market with the U.S. being the key contributor country.
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Rise of Chronic Diseases Changes Attitude toward Telemedicine Technologies and Services Positively
The global telemedicine technologies and services market is predominantly being driven by the growing incidences of chronic diseases and life-altering conditions. Rise in the number of diabetics, cardiac patients, and growing geriatric population across the globe have collectively triggered a need for medicinal facilities in various parts of the world. Telemedicine technologies and services offer the best possible solution for medicine practitioners and patients alike who cannot travel to offer assistance and seek the same. It is bridging the gap between the vast unmet medical needs and the ability to provide the same. Growing awareness about convenience of self-care devices and remote health monitoring have been pivotal in making the field of telemedicine technologies and services a true success.
Analysts point of out that the growing number of technological upgrades have significantly contributed to the soaring uptake of telemedicine technologies and services. Influx of new products, revolutionary innovation in approach to offer medical solutions, and ability to treat patients without exposing healthy people to contagions have also spiked the demand for telemedicine technologies and services. Products such as Eve for TactioRPM (Tactio Health Group), Rad-97 Pulse COOximete (Masimo), MRI Pacemaker (Abbott), and MERIDIAN M110 (MindChild Medical) have considerably revolutionized the reach of and approach toward telemedicine technologies and services.
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Investments and Internet Widen the Scope of Telemedicine Technologies and Services Market
All of these factors have brought in lot of investment from various players, thereby augmenting the scope of the global market. Supportive government initiatives, which are driven by the need to reach out to the remote population and better the healthcare sector have also been serious contributors to soaring revenue of the global market. Furthermore, unstoppable penetration of Internet in developing parts of the world, integration of ICT solutions, and emergence of IoT have also made the uptake of telemedicine technologies and services easy.
This review is based on Transparency Market Research's report, titled "Telemedicine Technologies and Services Market (Component - Hardware, Software, Services; Specialty - Dermatology, Gynecology, Neurology, Cardiology, Orthopedics, Emergency Care, Internal Medicine; Services - Tele-consultation, Tele-monitoring, Tele-education, Tele-training, Tele-care, Tele-surgery) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 - 2025".
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Global Telemedicine Technologies and Services Market Segmentation:
Telemedicine Technologies and Services Market Analysis, by Component
Global Telemedicine Technologies and Services Market Analysis, by Specialty
- Emergency care
- Internal Medicine
Global Telemedicine Technologies and Services Market Analysis, by End-user
Telemedicine Technologies and Services Market Forecast, by Region
- Saudi Arabia
- South Africa
- Rest of the World
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