San Francisco, 5 November
2018: According to a report by Grand View Research, Inc., global telemedicinemarket is predicted to value USD 113.1 billion by 2025. Growing
requirement for advanced technology that can monitor various chronic conditions
such as cardiovascular conditions, diabetes, and cancer is anticipated to
propel demand for telemedicine. It is likely to deliver health education,
health care, and health information at a distance. In addition, it can offer
advanced patient centered care coupled with increased access to remote
locations. Moreover, it can also reduce emergency room visit and
hospitalization rate among patients.
Healthcare sector is
enormously huge and its centralization is likely to support in harmonizing
entire process as well as providing economic assistances. All businesses are
likely to incorporate six sigma and lean management in their practice to
enhance resource practice and increase efficiency. According to community care
plan of eastern Carolina (CCP), installation of telehealth program is expected
to allow clinicians and medical providers to attend over 20 patients in one
week as compared to mere 10 before. Growing demand of patients to presume
better and earlier healthcare provision coupled with increasing disposable
income can propel growth of market.
Growing adoption of home care
coupled with rising concerns to reduce hospital visits can influence growth of
market. Rising cases of chronic disorders attributed to increasing number of
geriatric population globally is likely to stimulate market growth. High demand
for self-governing and healthy existence by patients can augment growth of
market over next few years. Enhancing application of internet, virtual medicine
and high demand for centralization of healthcare can fuel market growth during
the forecast period (2014 to 2025).
Access
Research Report of Telemedicine Market@ www.grandviewresearch.com/industry-analysis/telemedicine-industry
To cater to rising demand for
telemedicine, most companies and research institutes are likely to get involved
in R&D activities to develop advanced solutions. For instance, a team of
researchers from Dell medical school at university of Texas recently observed
that diabetic retinopathy screening via telemedicine is expected to have
long-term benefits for patients in urban and remote areas. Researchers are
expected to collect data on total number of patients screened to count number
of patients who required further evaluation and those who got evaluated by
trained retina specialists. According to data collected, 5764 patients are
expected to receive screening in past years. Among them, 5632 are found to get
gradual images. Another 1830 are expected to have retinal pathology and 1152
are likely to be diagnosed with diabetic retinopathy (DR).
The telemedicine market can be
segregated on the basis of product and region. Based on product, the market can
be categorized into network & connectivity, hardware, and others. In 2016,
hardware segment dominated the market and accounted for largest market share.
The segment is likely to include products such as desktop, laptops, speakers,
microphones, videoconferencing, webcams, and display monitors. Hardware used in
telemedicine can abide to specific conditions that are required for its
competent functioning. Hardware is likely to be graded and selected based on
traits such as general memory & video, connectivity & email feature,
and processor speed and display quality.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/healthcare-it
Regional segmentation includes
Europe, North America, Asia Pacific, Latin America, and Middle East &
Africa (MEA). In 2016, North America accounted for significant 32.8 % of market
share. United States is expected to be dominant attributed to prevalence of
refined medical services in the country. In addition, supportive initiatives
from local governments including introduction of incentive system by Medicaid
and Medicare.
In Asia Pacific, the market is
expected to witness substantial growth attributed to high demand for healthcare
IT services in healthcare. In addition, rising investments from local
governments to develop healthcare facilities can fuel market growth in the
region.
In Latin America, the market
is likely to grow well over the forecast period owing to rising demand for
post-acute care supervision.
Some of the leading companies
offering telemedicine are Philips Healthcare, IBM, McKesson Corporation, Intel
Corporation, and AMD Telemedicine. Most companied are likely to adopt strategic
actions such as new product launches and mergers & acquisitions to expand
their work portfolio and gain traction among consumers.
Access
Press Release of Telemedicine Market@ www.grandviewresearch.com/press-release/global-telemedicine-industry
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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