Press release
High Preference for Telemedicine Boosts Telemedicine Technologies and Services Market’s Growth
Owing to widespread advancements occurring in the field of medicine and healthcare, the global telemedicine technologies and services market is expected to gain boundless growth in the next few years. Numerous healthcare providers have invested mammoth amounts of money to carry out extensive research and development in the field of medicine. This is mainly being carried out to improve processes that can help deliver medical services through remote communications.
Rising geriatric population is also responsible for driving the global telemedicine technologies and services market. This is mainly due to the ease with which telemedicine services can be provided to elderly people, who would otherwise find it difficult to go to healthcare centers physically and receive relevant services. With progressing technology, it has become easier to provide healthcare services over telephone, internet, and other forms of remote communications. In this way, rampant progress regarding use of smartphones, computers, and other devices has increased preference of telemedicine, consequently boosting the global telemedicine technologies and services market.
However, shortage of ample treatment options in numerous underdeveloped regions and emerging economies poses as a key restraint, negatively affecting the global telemedicine technologies and services market. In some remote regions, a complete lack of treatment facilities also largely hinders the market’s growth. Another factor that acts as a prime restraint involves high cost of telemedicine treatments and services, which cannot be afforded by people having less disposable income.
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Nevertheless, many healthcare providers as well as players working in this market are coming up with revolutionary services, especially from a cost regulation perspective. This is expected to substantially offset the restraints affecting the global telemedicine technologies and services market.
The vendor landscape depicts a highly competitive scenario to exist, mainly due to the presence of innumerable companies and healthcare providers working in the global telemedicine technologies and services market. In the context of shares held by individual companies, a fragmented situation exists in this market. With the entry of new players on a regular basis, the competition is expected to get tougher during forthcoming years.
AMD Global Telemedicine, Inc., McKesson Corporation, Medtronic, F. Hoffmann-La Roche Ltd., Honeywell International, Inc., GE Healthcare, LifeWatch, Aerotel Medical Systems Ltd., Koninklijke Philips N.V., and GlobalMed, are chief companies operating in the global telemedicine technologies and services market.
Most companies are focusing on and investing in research and developmental activities with the aim of providing accurate diagnosis and treatment of various health issues of an already burgeoning vendor landscape in this market.
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