Press release
What are the Growth Drivers of Telemedicine Market? McKesson Corporation, Allscripts Healthcare Solutions Inc, AMD Global Telemedicine, BioTelemetry, Cerner Corporation, Cisco Systems, Honeywell International Inc, InTouch Technologies, Koninklijke Philips
Japan telemedicine market is estimated to reach USD 2,702.1 million by 2025. Japan has one of the most advanced telecommunication technologies that enables quick implementation of telemedicine platforms. Medical insurance coverage, improved healthcare, rise in incomes and urbanization is anticipated to bolster the telemedicine market in this region.
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Rising prevalence of chronic diseases such as osteoarthritis, cardiovascular diseases will be the key drivers of telemedicine market growth. As per Center for Disease Control and Prevention, in U.S. about 54 million people suffer from some form of arthritis annually. With growing number of people suffering from chronic diseases, the demand for telemedicine is poised to grow in the future.
Telemedicine Market will exceed USD 130.5 billion by 2025; as per a new research report. Increasing need for cost reduction of healthcare services is the major factor for growth of telemedicine market. Tele-consultation reduces time and cost of patient visit to a hospital. Telemedicine platform enables quick response to patient’s needs and healthcare personnel can effectively treat an emergency case, thereby fostering telemedicine market growth.
Telehome market will reach USD 45.2 billion by 2025. Affordable high-speed internet and increasing smart phone and wearables adoption will rapidly boost telehome market. Moreover, increasing importance of real-time monitoring of elder patients will further propel market growth in the future.
Germany telemedicine market accounted for largest share in 2018 and is forecasted to grow at 18.1% CAGR over the projected period. High growth is attributable to increasing telecommunication structure coupled with growing smart phone users. The escalating prevalence of chronic disorders such as cardiovascular diseases due to adoption of sedentary lifestyles will boost market growth.
Application of telemedicine in neurology is forecasted to expand at 20.0% CAGR across the forecast timeframe. Increasing prevalence of neurological disorders such as Alzheimer’s disease and Parkinson?s diseases will foster market growth in the future. Also, with real-time consultations and remote patient monitoring, the quality of healthcare service provided will improve, thus leading to market growth.
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Few of the prominent market players involved in global telemedicine market are Allscripts Healthcare Solutions Inc, AMD Global Telemedicine, BioTelemetry, Cerner Corporation, Cisco Systems, Honeywell International Inc, InTouch Technologies, Koninklijke Philips N.V., McKesson Corporation and OBS Medical. The industry participants are engaged in acquisition and collaborations to enhance their market foothold and expand geographic reach.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Telemedicine Industry Insights
Chapter 4. Telemedicine Market, By Service
Chapter 5. Telemedicine Market, By Type
Chapter 6. Telemedicine Market, By Specialty
Chapter 7. Telemedicine Market, By Delivery mode
Chapter 8. Telemedicine Market, By Region
Chapter 9. Company Profiles
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Related Report:
Global Telemedicine Market Size, Status and Forecast 2019-2025
Telemedicine is the use of telecommunication and information technology to provide clinical health care from a distance. The market is driven by the need for better healthcare in rural areas, tremendous growth in telecommunication, rising prevalence of chronic diseases in BRIC nations, and low cost of telemedicine. However, high infrastructural costs and lack of skilled resources may restrain market growth to a certain extent. On the other hand, favorable government initiatives present a huge growth potential for telemedicine in the BRIC nations. Lack of telemedicine standards in the BRIC countries may pose a challenge to the growth of BRIC telemedicine market.
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