Potential of Global Telemedicine Market: Current Developments and Expected Advancements
A host of market trends are driving the global telemedicine technologies market. These include the increasing prevalence of chronic diseases, rising digitalization, and increasing demand for enhanced patient care facilities. Driven by these factors, the global telemedicine technologies market is expected to demonstrate good growth in the coming years. Furthermore, the global telemedicine market is still at its developing stage, and has not tapped into many rural areas of the world. This presents good growth prospects for the market.
Telemedicine is known by many names, such as telehealth, e-medicine, and e-health. Telemedicine technology deploys technology to deliver health information, health care, or health education remotely. With growing digitalization and smartphone adoption, telemedicine technologies have become popular in several developed regions of the world. The convenience offered by telemedicine or telehealth continues to be the primary factor fueling the demand for these services.
Get Free Sample Copy Of Research Brochure,Visit: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3032
Current Developments in the Global Telemedicine Market
At present, the global telemedicine technologies market is facing a number of challenges that it needs to overcome in order to ensure its high growth in the coming few years. Some of the major challenges hampering this market are the shortage of skilled and experienced professionals in remote areas and absence of consumer awareness about telemedicine technologies and their uses. Other major restraints suppressing the global telemedicine technologies market are the lack of proper insurance and strict regulatory framework governing this industry.
Currently, North America and Europe are leading the global telemedicine technologies market. This is due to the elevated acceptance of telemedicine technologies in these regions. In addition to this, the presence of enhanced healthcare and IT infrastructure promotes the adoption of telemedicine technologies.
Expected Developments in the Global Telemedicine Market
The global telemedicine technologies market is expected to grow at a double-digit CAGR during the forecast period of 2010 to 2017. In the coming few years, the improved access to patient care and telehealth technologies reaching new markets is expected to propel the market. Furthermore, with the advent of telemedicine technologies, the number of emergency room visits and hospitalization is expected to reduce drastically. Multiple healthcare providers can communicate with an individual episode of care and centralize all the existing data and streamline data collection via telemedicine technologies. This is expected to reduce the gap between clinician supply and patient demand.
According to market analysts, China, Brazil, India, and Russia will experience a high growth rate in the global telemedicine technologies market in the coming few years. These regions will benefit from their expanding populations and the accelerating incidence of chronic diseases such as asthma, diabetes, and heart failure. Furthermore, increasing healthcare costs and rising awareness of telemedicine in remote locations will also drive these markets.
Key players in the global telemedicine technologies market are thus focusing on the emerging markets of Russia and Brazil to expand their services. The global telemedicine technologies market is broadly segmented into software, hardware, and services. Some of the most prominent companies in the global telemedicine technologies market are AMD Telemedicine, McKesson Ltd., Philips Healthcare, GE Healthcare, and Cardio Net.