Telemedicine Market: Future market projections for forthcoming years

The global telemedicine market was valued at US$14.3 bn in 2014 and is estimated to reach US$36.3 bn by 2020, growing at a CAGR of 14.30% from 2014 to 2020.The global telemedicine market has been witnessing a boom due to the growing demand for privacy, increasing government expenditure, supportive reimbursement policies, and rise in the demand for personal healthcare. In addition to this, the efforts of global telemedicine market players to tap into the unmet medical needs in remote places and the increasing patient pool in rural areas will also help the proliferation of this market.

The biggest restraints on the global telemedicine market are the shortage of trained medical staff and poor response time. This problem is further worsened by the lack of assurance amongst patients and practitioners about the risk of incomplete or inadequate assessment might also limit the growth of this market.The global telemedicine market has been segmented on the basis of specialty, service, and geography. The market is segmented into the specialty segments of dermatology, cardiology, neurology, orthopedics, internal medicine, emergency care, gynecology, and others. The type segments of the market are tele-monitoring, tele-consultation, tele-education, tele-training, tele-care, and tele-surgery. Geographically, the global telemedicine market is segmented into regions such as Asia Pacific, Europe, North America, and Rest of the World.

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According to research analysts, the neurology segment is expected to grow at a CAGR of 15.90% till 2020 as Alzheimer’s and Parkinson’s diseases remain on the rise. Medical consultation services will remain the most commonly used form of telemedicine used by physicians for expanding the outreach of their medical advice. The tele-monitoring segment will also enjoy an upward trend due to the increasing diabetic and disabled population.

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The research report on the global telemedicine market profiles some of the key players such as Allscripts Healthcare Solutions, Inc., Agfa HealthCare NV, InTouch Technologies, Inc., CARDIOCOM, LLC, CISCO Systems, Inc., F. Hoffmann-La Roche Ltd., AMD Global Telemedicine, Inc., Honeywell HomMed LLC, OBS Medical Ltd., LifeWatch AG, Medtronic, Inc., Siemens Healthcare, and McKesson Corp. This chapter helps in understanding the competitive landscape and assesses the intensity of the competition. It gives a detailed explanation of the company profile, financial status, and research and development plans.

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