AMD Global Telemedicine, Medtronic, Honeywell Lifesciences Lead the Growth of Telemedicine Market

Sep 30, 2016, 07:00 ET from Mordor Intelligence

HYDERABAD, India, September 30, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of their research report on the telemedicine market. The report titled, "Global Telemedicine Market - Growth, Trends and Forecast," discusses the current landscape and outlook of the market.

In 2015, the global telemedicine market was estimated to be USD 23,224 million and is expected to reach USD 66,606 million by 2021, while projecting a CAGR of 18.8% during the forecast period (2016-2021). The report is an amalgamation of the current market scenario, its prospects and forces driving and restraining the market growth. The report highlights the North American, European, Asia-Pacific, Latin American and Middle-East & African markets.

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  • By Type
    • Telehospitals/Clinics
    • Telehome
    • mhealth (Mobile Health)
  • By Technology
    • Hardware
    • Software
    • Telecommunications
  • By Specialty Area
    • General Consultation
    • Cardiology
    • Dermatology
    • Neurology
    • Gynecology
    • Trauma Care
    • Ophthalmology
    • Orthopedics
    • Psychiatry
    • Pathology
    • General Surgery
    • Others
  • By End-Users
    • Hospitals
    • Clinics
    • Patients
    • Others
  • By Geography
    • North America
    • Europe
    • Asia-Pacific
    • Middle East & Africa (MENA)
    • South America

The huge growth expected in the telemedicine market is mainly due to the potential of telemedicine to revolutionize healthcare delivery as we know it. Telemedicine does this by making it possible to instantly deliver healthcare at any time to and from anywhere in the world.

The market for telemedicine market is mainly driven by the constant technological innovation, increasing remote patient monitoring and rising use of treatments that require long follow-ups. In spite of the great scope for growth, there are some factors restraining the market which include legal and reimbursement issues, high cost of advanced technology, lack of physician support combined with poor cases of implementation and lack of infrastructure.

The global telemedicine market has been segmented by type into telehospitals/clinics, telehome, mhealth (mobile health). By technology, the market has been segmented into Hardware, Software, and Telecommunications. By specialty area, the market has been segmented into cardiology, dermatology, neurology, gynecology, trauma care, ophthalmology, orthopedics, psychiatry and others. The global telemedicine market is also segmented by clinical services, end-users and geography.

North America is the dominant market globally, accounting for about 40% of the overall market size. US contributes the largest share to overall North American telemedicine market. The increasing healthcare costs is one of the major factors that propel the market for telemedicine in North America. The telemedicine market in North America is mainly driven by telehospital services. The European and Asia-Pacific regions are estimated to become big markets for telemedicine in the coming years. Technological advancements in countries like India and China are fuelling the growth in this part of the world.

The leading companies that dominate the sleep apnea device market are AMD Global Telemedicine, Philips, Aerotel Medical Systems, Medtronic, Honeywell Lifesciences, Lifewatch, among others.

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SOURCE Mordor Intelligence