Define new avenues in the telemedicine market, mainly in terms of cutting-edge technology development, value-added services and newer applications.
Provide an in-depth understanding of the economics of telemedicine in terms of business models, a cost-benefit analysis and information for an investment business case.
Identify opportunities for stakeholders in telemedicine.
Make comprehensive market forecasts for the period of 2016 to 2021 concerning telemedicine and all its key subsegments.
The global telehome and telehospital/clinic market is expected to grow from nearly $23.8 illion in 2016 to roughly $55.1 billion by 2021, with a compound annual growth rate (CAGR) of 18.3% for the period of 2016-2021.
The telehospitals/clinics market will grow from nearly $12.5 billion in 2016 to $22.0 billion by 2021 with a CAGR of 12.0% for the period of 2016-2021.
The telehome market will grow from roughly $11.3 billion in 2016 to $33.1 billion by 2021 with a CAGR of 24.0% for the period of 2016-2021.
STUDY GOALS AND OBJECTIVES
This is an update of an earlier BCC Research report, published in September 2014. BCC Research's goal in updating the report is to assess the impact of recent technical, economic, legal/regulatory, business and other developments on the global market for telemedicine technologies and services. Objectives of both the original and the updated studies include:
Defining new avenues in the telemedicine market, mainly in terms of cutting-edge technology development, value-added services and newer applications.Providing an in-depth understanding of the economics of telemedicine in terms of business models, a cost-benefit analysis and information for an investment business case.Identifying opportunities for all the stakeholders in telemedicine.Making a comprehensive market forecast (2016 to 2021) of telemedicine and all its key subsegments.BCC Research's key objective is to present a comprehensive analysis of the current telemedicine market and its future direction.
REASONS FOR THE STUDY
Companies require clarity regarding the main markets for telemedicine technologies and services. BCC Research is interested in providing a comprehensive market forecast for multiple market segments (e.g., technologies, services, applications, geographical).
There has been a global focus on the use of telemedicine as a tool to cut down healthcare costs and bring about mammoth savings. Implementation of the new U.S. healthcare law will, if anything, intensify this focus by increasing the number of people with health insurance and seeking medical services. In the near to midterm,
telemedicine technologies offer one of the few ways of enabling healthcare personnel to meet the increased demand without unacceptable delays or other forms of de facto rationing.
BCC Research is interested in studying the ways in which collaborative healthcare can be better and more economically implemented through telemedicine. Recently announced best practices to cut down global healthcare costs, including outsourced medical services, home-based treatment, intervention as opposed to post-treatment, integrated information technology (IT) environments, increased efficiency of healthcare resources and reducing billing gaps, all point toward the increasing use of telemedicine.
BCC Research aims to identify the key success factors in the telemedicine market and to gauge the ways in which this market can significantly affect larger markets such as healthcare, health insurance, home care, telecommunications (telecom), networking, disease management, e-health and healthcare IT. The report is well timed, as major Tier I stakeholders are entering the telemedicine market.
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