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Press Release

Global Telemedicine Technologies and Services Market Boosted by Increasing Healthcare Demand by Aging Population

Posted on: 19 Sep 16

Albany, New York, June 07, 2016: Market Research Reports Search Engine (MRRSE), has added a new report, titled ‘Telemedicine Technologies and Services Market (Component - Hardware, Software, and Services; End-user - Telehospital and Telehome) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023,’ to its online repository. As per the report, the global telemedicine technologies and services market is expected to benefit from the rising geriatric population, advancements in mobile penetration, and the increasing adoption of telemedicine services. 

Telemedicine provides clinical healthcare services through information technology and telecommunication even when the doctor and patient are not in the same physical location. Telemedicine improves access to healthcare services by eliminating distance barriers. Furthermore, such services are used to address critical illnesses and even save lives in emergency situations. These healthcare services permit interaction between the medical staff and patients with convenience. Transmission of medical and health informatics from one place to another is easy through telemedicine technologies. The earlier types of telemedicine services supported by radio and telephone are now enhanced with video telephony.

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Since the introduction of telemedicine, people staying in remote areas have been able to experience better healthcare services. With the advent of mobile technology, video conferencing, and telehelp, healthcare professionals are able to provide effective medical assistance to people in far flung areas. Telemedicine also removes the possibility of transfer of diseases between patients and healthcare staff. With the advent of technology, the global telemedicine technologies and services market is set for rapid expansion in the years to come. The global telemedicine technologies and services market is segmented on the basis of component, region, and end user.

Based on component, the global telemedicine technologies and services market is classified into software, hardware, and services. The software segment is sub-segmented into stand-alone and integrated software. Chronic care, store and transfer, and interactive are some of the services in the telemedicine market.

Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa are the regions covered by leading players operating in the global telemedicine technologies and services market. In 2014, North America held a dominant share of 53.3% in the global telemedicine technologies and services market. North America will maintain its dominance throughout the forecast period due to the advancements in the healthcare services and developed communications infrastructure. Asia Pacific is expected to be the second-largest market for telemedicine technologies and services in the near future.

Companies such as AMD Global Telemedicine, Inc., LifeWatch AG, Aerotel Medical Systems Ltd., General Electric Company, and Honeywell International, Inc. are focusing on offering their telemedicine services across various locations. Telehospital and telehome are the two end-user segments of the global telemedicine technologies and services market. 

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As per a recent report from the World Health Organization, in 2010, the worldwide aging population was approximately 524 million and it is expected to reach 1.5 billion by 2050. The increasing aging population is expected to boost the demand for telemedicine services in the coming few years. It is difficult for people in developing countries to afford advanced healthcare products and medicines due to their low disposable income and financial crises. Thus, they are expected to avail more telemedicine services, which are cost-effective and efficient. 

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Last updated on: 19/09/2016

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