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What is the current Trend onVideo telemedicine? Huawei technologies Co. Ltd., Polycom Inc., Vidyo Inc., Adobe Systems Incorporated, Cisco Systems, Inc., Avaya Inc

11-11-2019 02:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: CMI

Video Telemedicine

Video Telemedicine

Video telemedicine for treating patients is important aspects of telemedicine facility, which facilitates reliable quality and clinical efficiency to in-home care, acute care and ambulatory care. Telehealth continue to gain importance in healthcare industry. Patients are realizing the value of virtual care options and substituting it for in-patient care option.

Telemedicine extends the healthcare solutions to the rural patients and to the patients living in the remote location areas, which increases accessibility to care at lower costs. Healthcare professionals and independent physicians increasingly use telemedicine application and software services to video conference with patients, when they lack infrastructure for in-house patient care.

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The 2017 U.S. Telemedicine Industry Benchmark Survey conducted by REACH Health, among physicians, healthcare executives, nurses, and other healthcare professionals in the U.S. found that telemedicine continues to evolve from specialty service to mainstream service. Also, 94% of participants choose video conferencing feature (integrated audio and video for live patient engagement) and found it the most valuable tool in telemedicine platform service.

More than half of patients surveyed by the Health Industry Distributors Association (HIDA), in 2016, were more satisfied receiving telehealth service, and 54% said that the experience was better than traditional physician clinic visit. Moreover, more than half of the survey respondents learned about telehealth from their physicians rather than telemedicine service provider. Moreover, the physician and consulting healthcare professionals are an important link to provide telemedicine services to the patients, thereby to increase growth of the video telemedicine market in near future.

An increasing need for delivering healthcare services to rising geriatric population, growing dearth of physicians and increasing chronic disease incidence facilitates the growth of video telemedicine market. Moreover, increasing adaptation of mobile, smartphone and tablet into healthcare IT segment facilitating technology penetration and incorporation of big data to allow more efficient, more effective and improved operational efficiency in telemedicine services, further helps to boost the video telemedicine market, in near future.

According to the World Health Organization (WHO), around 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all global deaths. Chronic obstructive pulmonary disease (COPD) is a chronic lung disease, accounting for 3 million deaths in 2015, according to the same source. The 2016 Physician Supply and Demand Report, released by Association of American Medical College (AAMC), projects the significant physician shortfall, in the U.S. between 2014 and 2025, which is ranges between 61,700 and 94,700.

Healthcare Information and Management Systems Society (HIMSS) made request in 2017 U.S. Congressional Asks, to pass the Creating Opportunities Now for Necessary and Effective Care Technologies (CONNECT) for Health Act. The act is intended to significantly remove hurdles to telemedicine expansion in Medicare, by allowing more telehealth experiments using alternate payment models and incentive programs. The HIMSS aims to increase funding for broadband expansion in rural areas through this step.

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Some of the key players operating in the video telemedicine market are Huawei technologies Co. Ltd., Polycom Inc., Vidyo Inc., Adobe Systems Incorporated, Cisco Systems, Inc., Avaya Inc., ZTE Corporation, West Corporation and Microsoft Corporation.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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