Sarasota, FL, March 31, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Telemedicine Market (Tele-Education, Tele-Training, Tele-Consultation, Tele-Monitoring, Tele-Care, and Tele-Surgery) for Neurology, Orthopedics, Cardiology, Dermatology, Emergency Care, Internal Medicine, Gynecology, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”.  According to the report, the global telemedicine market was valued at approximately USD 18.20 billion in 2016 and is expected to reach approximately USD 38.00 billion by 2022, growing at a CAGR of around 14.0% between 2017 and 2022.

Telemedicine is the real-time service which uses telecommunication and information technology to provide clinical health care from a distance. Telemedicine services provide two-way communications between patient and healthcare professional. Telemedicine services use email, smart phones, video conference, wireless tools and other forms of telecommunications technology. Telemedicine helps to decrease the overall cost of medical care and increase efficiency through better management of chronic diseases, shared doctors and specialist staffing.

Browse through 27 Market Tables and 30 Figures spread through 110 Pages and in-depth TOC on “Global Telemedicine Market: Size, Share, Growth, Trends, and Forecast 2016 – 2022”.

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The major key drivers for the telemedicine market are rapid growth in aged population coupled with increasing number of patients suffering from chronic disease and hypertension. Government initiatives and funding is expected to propel the telemedicine market growth in Asia Pacific region within the forecast period. However, lack of resources and high technological cost may hamper the market growth in emerging and underdeveloped countries. Nevertheless, advancement in technology to provide better health services is expected to open up new growth avenues within the forecast period.

The telemedicine market can be segmented on the basis of applications into neurology, orthopedics, emergency care, internal medicine, gynecology, cardiology, dermatology, and others. Dermatology dominated the telemedicine market with over 25% share of the overall market. Neurology is expected to witness the fastest growth in the years to come due to increasing neurological complications such as stroke, Alzheimer’s and Parkinson’s cases. Emergency care and cardiology are other key segments that play an important role in telemedicine market.

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Based on service, the market can be segmented into tele-monitoring, tele-education, tele-consultation, tele-training, tele-care, and tele-surgery. Tele-consultation was the leading segment and it accounted for the significant share in 2016. Tele-monitoring is another key outlet of this market owing to increasing demand of patients to get early treatment by means of home care, mobile monitoring and disease monitoring applications. Tele-education, tele-training, and tele-surgery are newly added in telemedicine services and expected to exhibit exponential growth within the forecast period.

The North America regional market is by far the largest in the global telemedicine market and is set to continue its dominance across the globe. The telemedicine market is driven by strong demand for centralization of healthcare administration and enhanced safety & quality of the applications. Moreover, strong demand for mobile technologies and the internet by people along with rising adoption in home care by patients are expected to boost the demand for telemedicine market. The American Telemedicine Association annually meets new advance hardware and software for healthcare professionals.

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In terms of revenue, North America was followed by Europe in 2016. The Europe telemedicine market is expected to witness substantial growth in the near future. The major driving force for telemedicine market is rapid growth in aged population coupled with increasing prevalence of chronic diseases. Moreover, the adoption of new technological innovations and advancements is expected to witness significant growth over the forecast period. In 2014, more than 6000 patients were included the project making it the largest randomized controlled trial study in telemedicine in this region. The randomized controlled trial is a study in which people are allocated at random to receive one of the several clinical interventions. The project enabled patients’ empowerment and involvement while optimizing the use of resources in healthcare provision.

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Asia Pacific is another leading regional market and expected to be the fastest growing market in near future. The growth is mainly due to the rising aging population, increasing international research collaborations, increasing R&D expenditure, and growth in the overall healthcare industry. Moreover, telemedicine market has a huge opportunity in the emerging markets of Asia Pacific due to the increasing population coupled with the rising health awareness among people, especially in China and India.

The Middle East & Africa regional market is expected to witness significant growth in the near future. This growth is mainly due to increase number of chronic diseases, lack of strict guidelines for the practice and improving access to healthcare services. Latin America is another important regional market and is expected to experience significant growth over the forecast period.  Increased purchasing power, emerging mindset towards wellness, and rising healthcare expenditure are key drivers for the telemedicine market in Latin America.

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Some of the major industry participants in telemedicine market includes F. Hoffmann-La Roche Ltd., CISCO Systems, Inc., Siemens Healthcare, McKesson Corp, Agfa HealthCare NV, AMD Global Telemedicine, Inc., Polycom Corp., Honeywell HomMed LLC, InTouch Technologies, Inc., LifeWatch AG, Medtronic, Inc., OBS Medical Ltd., and Allscripts Healthcare Solutions. Key players have been focusing on innovation and new product development to retain their market share. This kind of competitive position provides new growth opportunities for the market. 

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This report segments the global telemedicine market as follows:

Global Telemedicine Market: Services Segment Analysis

  • Tele-Education
  • Tele-Consultation
  • Tele-Monitoring
  • Tele-Training
  • Tele-Care
  • Tele-Surgery

Global Telemedicine Market: Application Segment Analysis

  • Neurology
  • Cardiology
  • Dermatology
  • Orthopedics
  • Emergency Care
  • Internal Medicine
  • Gynecology
  • Other 

Global Telemedicine Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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