Global Telemedicine Market 2008-2012
Telemedicine is a provision of healthcare services that uses telecommunication technology and multimedia equipment to provide healthcare solutions over a geographic distance. It includes Teleradiology, Teleconsulting, Telemonitoring, and Telesurgery. Teleradiology, the electronic transmission of radiographic images (from radiologists sitting at a distant location) from one location to another for interpretation and consultation, has the largest share among all the segments of Telemedicine.
Application of telemedicine is expanding virtually across all the medical areas. The global market for Telemedicine is valued at $9 billion in 2008, and it is expected to grow at double digit rates in the next five years.
Market Trends
There are many trends that are gaining ground in the Telemedicine market. Adoption of 3G and High Speed Package Access (HSPA), increasing use of wireless and web-Based services, integration of various devices such as patient alert devices and vital signs recording devices, and hospitals’ integrated approach for healthcare delivery are some of the major trends in the global Telemedicine market. Further, all these trends are closely interlinked with each other, both at technology as well as usage level.
Growth Drivers
Healthcare organizations are adopting Telemedicine technologies to cater to the demand for healthcare services. Among other factors, shortage of health professionals, ageing population, Availability of Application Service Provider Model and Affordable Broadband Internet Access are encouraging the adoption of Telemedicine.
Regional Growth Trends
Growth prospects of the Telemedicine market vary according to geographies. Among all, Asia is the fastest growing region for the Telemedicine market. There is a substantial rise in demand for Telemedicine in Asian countries such as China and India.
Growth Barriers
Although there are many factors that are encouraging the adoption of Telemedicine as a medium of healthcare service, there are few challenges as well faced by the industry. Issues such as absence of global regulatory framework, lack of basic IT infrastructure, reimbursement policies, and legal constraints hinder the growth of the Telemedicine market.
The report forecasts the market size of the Global Telemedicine Market for the period 2008-2012, and elaborates on the key trends of the market. It also segments the total Global Telemedicine Market into various geographic regions, presenting the size of each market in these regions. Further, it talks about the segmentation of the Global Telemedicine Market by Telemedicine Technologies. The report also discusses the key growth drivers and growth barriers of the Global Telemedicine Market, and profiles some of the key Telemedicine vendors operating in the healthcare sector.
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