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(Medical-NewsWire.com, December 12, 2016 ) According to this research, the global Telemedicine Market is estimated at $25.53 billion in 2015 and is projected to reach $57.92 billion in 2020, with a significant CAGR of 17.85% over the next five years. Though it represents a small share in the healthcare market currently, it is one of the fastest budding sectors in the overall healthcare market.
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Although telemedicine programs have been in vogue for nearly half a century, the recent healthcare reforms have been instrumental in promoting the increased usage of such applications. Telemedicine players are focusing on improving their technology offerings in terms of hardware, network, and software (i.e., enabling technologies). Healthcare companies are evaluating the return on investment (ROI) and clinical outcomes of the telemedicine technology. Tier I players are evaluating opportunities in telemedicine in the form of consolidation. Insurance companies are taking a realistic look at the ability of telemedicine to support e-healthcare and considerably improve the bottom line.
Increasing population, growing number of chronic diseases and rising cost of healthcare services are the significant key drivers for the growth of global telemedicine market. In addition, increased use of technology in healthcare conveyance and a dearth of physicians in rural areas is foreseen to offer new prospect for growth of telemedicine market. On the other side, lack of trained and skilled professionals in the remote areas, lack of consumer awareness about new-fangled technology and its uses are some of the key aspects inhibiting the growth of telemedicine market.
The global market for telemedicine is segmented on the basis of Technology (Hardware, Software, and Telecommunications), Service (Remote Patient Monitoring, Store-and-Forward, Real-Time Interactive), Applications (Tele-Cardiology, Tele-Pathology, Tele-Radiology, Tele-Dermatology, Tele-Neurology, Emergency Care, Home Health), Delivery mode (Web-based, Cloud-based) and End User (Tele Hospitals, Tele Homes).
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Some of the major companies operating in the telemedicine market are AMD Global Telemedicine, GE Healthcare (U.K.), CISCO Systems, Inc., Medtronic, Inc., Honeywell Lifesciences, Aerotel Medical Systems, Philips healthcare, McKesson Corp, Cerner Corporation, CardioComm. Other players in the telemedicine market are Apollo Hospitals (India), 3M, Robert Bosch Healthcare, Neosoft (China), SnapMD (U.S.), Polycom Corp., F. Hoffmann-La Roche Ltd., InTouch Technologies, Inc., LifeWatch AG, OBS Medical Ltd., Siemens Healthcare, Agfa HealthCare NV, Allscripts Healthcare Solutions, Biotelemetry, Inc.
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Scope of report covers:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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Source: EmailWire.Com 
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