Video Telemedicine Market Attain a Value of US$1,624.4 million by the End of 2020
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The analyst of the report has notified of a competitive landscape in the global video telemedicine market wherein the opportunities are expanding furiously and, at the same time, the number of participants is multiplying too. The value chain comprises of healthcare organizations, manufacturers, system integrators, and network solution providers. Some of the leading manufacturers of the tools and software for video telemedicine are AMD Global Telemedicine and Logitech International, whereas Polycom and Cisco Systems Inc. have emerged as a key system integrators and network solution providers in the recent times. Siemens Healthcare, Permier Global Services Inc., Huawei Technologies Co Ltd, GlobalMed Inc., and Sony Corporation are some of the other prominent players pioneering the possibilities with video telemedicine.
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Based on communication technology, the market for video telemedicine has been segmented into satellite communications, B-ISDN, ADSL, 4G, and 3G, whereas on the basis of application, the market has been bifurcated into neurology, dermatology, cardiology, dentistry, gynecology, radiology, pathology, oncology, and orthopedics. Geographically, North America has been rated as the region with maximum demand potential for video telemedicine, followed by Europe.
A collaboration of data advancements and media transmission, the concept of video telemedicine not only has the potential to expand the horizons of healthcare to the rural areas, it can reduce the cost of consultancy and treatment by a fair margin too, owing to reduced requirement of travel for the caregivers and the patients. Growing demand for healthcare services among residents of remote areas, consistently advancements to the technology such as mobile collaboration technology, prevalence of various chronic diseases, and increasing percentage of geriatrics in the global population are some of the other factors augmenting the demand in the global video telemedicine market. On the other hand, strong lack of awareness and resistance of consumers to move beyond traditional methods are obstructing the market from attaining its true potential.
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