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Strategic Analysis of the European Telemedicine Market
Frost & Sullivan, Aug 2011, Pages: 198
This Frost & Sullivan research service titled Strategic Analysis of the European Telemedicine Market offers a comprehensive overview of the market including key industry challenges, market drivers and restraints. Strategic recommendations are included. In this research, Frost & Sullivan's expert analysts thoroughly examine the following market sectors: teleradiology and telecardiology.
This study examines and analyses the European telemedicine market. The research service presents the market drivers and restraints for growth. It examines the market in terms of industry challenges faced by market participants and also discusses the competitive and technology trends present in the market. A detailed revenue forecast is presented for the seven geographic markets considered for this study, in addition to the market trends and opportunities. The base year for this study is 2010, with forecasts running to 2017.
This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
Market Overview
Multiple Cost and Clinical Benefits Underline Popularity of Telemedicine
Across Europe, improved access to technology and the need to reduce healthcare delivery costs have underpinned the search for cost-effective solutions. Telemedicine has proved to be an economical alternative to conventional healthcare delivery, while providing personalised solutions. These factors are expected to assist telemedicine in becoming an integral part of the healthcare system.
“Spiralling healthcare costs and the demand for personalised healthcare solutions, paralleled by greater access to technology, are driving the market for telemedicine in Europe,” notes the analyst of this research. “In order to cut down costs, European governments are keen to leverage various information and communication technologies that will support economical and effective healthcare delivery.” Telemedicine, a vital component of e-health, is gaining momentum with government support and is projected to witness a positive growth trajectory in Europe. Current low penetration levels are also paving the way for faster market growth.
Data Security and Confidentiality Issues Need to be Resolved to Promote Adoption
While patients are getting accustomed to limited face-to-face contact for consultation, they continue to have major concerns about the confidentiality associated with telemedicine. They are unwilling to depend completely on remote assistance, as there is still scope for error. “Although there is growing acceptance and adoption of telemedicine in Europe, patients are still reluctant to completely rely on telemedicine due to safety and confidentiality issues looming over data interpretation and usage,” remarks the analyst. “Social concerns related to data security are posing a key challenge to telemedicine's scalability.”
Legal implications are also negatively affecting market growth. These concerns relate to cross-border services and the uncertainty associated with re-imbursement and payment methods.
Efforts need to be made to enhance patient confidence and establish the value of telemedicine in Europe. Data security and confidentiality issues should be addressed in order to overcome the challenge of acceptance and improve adoption rates. “Similarly, the legal implications pertinent to cross-border telemedicine should be refined and clarified,” adds the analyst. “This will be critical to the geographic expansion of telemedicine and the realisation of its full potential in delivering effective healthcare.” Understanding patient needs and providing them with all the necessary information will help in boosting confidence levels. Employing techniques such as the digital signature in teleradiology has already helped address data security challenges. “Similarly, innovative solutions will help overcome linguistic issues and technology constraints, while improving acceptance and penetration rates,” concludes the analyst. “Most importantly, telemedicine market participants should thrive to bridge the gap in effective healthcare delivery and the cost incurred.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Teleradiology
- Telecardiology
- By Geographic Region: The United Kingdom, Germany, France, Italy, Spain, Scandinavia, Benelux
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