Global Telemedicine Market- Market Dynamics
The huge growth expected in the telemedicine market is mainly due to the potential of telemedicine to revolutionize healthcare delivery as we know it. Telemedicine does this by making it possible to instantly deliver healthcare at any time to and from anywhere in the world.
Some of the several factors driving the growth of the global telemedicine market are:
Constant technological innovation
Increasing remote patient monitoring
Rising use of treatments that require long follow-ups
In spite of the great scope for growth, there are some factors restraining the market. These include:
Legal and reimbursement issues
High cost of advanced technology
Lack of physician support combined with poor cases of implementation
Lack of infrastructure
Even though the growth of this market during the forecast period looks huge, we are still just scratching the surface when it comes to the size of this market. This is not because of any limitations of this technology but instead due to the limitations in adopting this technology. One such major limitation is the generation of doctors who are currently working in the healthcare industry.
The majority of the doctors who currently work in hospitals and clinics worldwide are in their mid-forties or fifties and have spent most of their careers using conventional means of treating patients. Training this older generation of doctors and convincing them to use telemedicine is a huge task, which most industry experts feel can never be accomplished. Hence, the full market potential of telemedicine can be tapped only after the next generation of doctors takes over the healthcare industry and that is expected to take at least another couple of decades.
In this report, the global telemedicine market has been segmented by type, technology, specialty area, and the end users.
The market has been further segmented by type into telehospitals/clinics, telehome, mhealth (mobile health).
By technology, the market has been further segmented into Hardware, Software, and Telecommunications.
By specialty area, the market has been further segmented into general consultation, cardiology, dermatology, neurology, gynecology, trauma care, ophthalmology, orthopedics, psychiatry, pathology, general surgery and others.
By end-users, the market has been further segmented into hospitals, clinics, patients and others.
Based on geographical region, this market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and South America.
The North American market has been further segmented into the United States, Canada, and Mexico. The European market has been further segmented into the United Kingdom, Germany, France, Italy, Spain and Rest of Europe. The Asia-Pacific market has been further segmented into India, China, Japan, South Korea, Australia and Rest of Asia-Pacific. The Middle East & Africa (Mena) market has been further segmented into GCC, Egypt, and South Africa, while the South America market has been further segmented into Brazil, Argentina and the Rest of South America.
Currently, the key challenge faced by this market is the lack of infrastructure in the emerging markets required for installing and using telemedicine. This market also has some great opportunities for companies that can simplify the technology and process involved in using telemedicine that can drastically increase the adoption of telemedicine.
Key Deliverables: of the study
Market analysis for the telemedicine market, with region-specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
1.1 Study deliverables
1.2 Market Definition
1.3 Sizing Units
1.4 Base Currency
1.5 Review and Forecast period
1.6 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Econometric Forecast
2.4 Expert validation
2.5 Study Timeline
3. Executive Summary
4. Key References
5. Market Overview and Industry Trends
5.1 Current Market Scenario
5.2 Market Overview
5.3 New Developments
5.4 Porter’s Five Forces
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Customers (Buyers)
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products or Services
5.4.5 Intensity of Competitive Rivalry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Constant Technological Innovation
6.1.2 Increasing Remote Patient Monitoring
6.1.3 Rising use of treatments that require long follow-ups
6.2 Market Restraints
6.2.1 Legal & Reimbursement Issues
6.2.2 Advanced Technology Increases Cost
6.2.3 Lack of Physician Support
6.2.4 Poor Cases of Implementation
6.3 Key Challenges
6.3.1 Lack of Required Infrastructure
6.4 Current Opportunities in the Market
6.4.1 Technology/Process Simplification
7. Market Segmentation
7.1 Segmentation by Type
7.1.3 mhealth (Mobile Health)
7.2 Segmentation By Technology
7.3 Market Segmentation, By Specialty Area
7.3.1 General Consultation
7.3.6 Trauma Care
7.3.11 General Surgery
7.4 By End-Users
7.5 Market Segmentation by Geography
7.5.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
7.5.4 Middle East & Africa (MENA)
184.108.40.206 South Africa
7.5.5 South America
220.127.116.11 Rest of South America
8. Competitive Landscape
8.1 Merger & Acquisition Analysis
8.2 New Product Launches
8.3 Agreements, Collaborations & Partnerships
9. Key Vendor Analysis
9.1 Aerotel Medical Systems
9.2 Allscripts Healthcare Solutions
9.3 AMD Global Telemedicine
9.4 Biotelemetry Inc
9.6 Honeywell Lifesciences
9.7 Intouch Technologies
9.9 Mckesson Corporation
9.12 Shl Telemedicine Ltd.
10. Analyst Outlook for Investment Opportunities
11. Future Outlook of the Market