Video Telemedicine Market – The Future of Telemedicine in Emergency Medicine
by Ranu Kurmi tmrThe rapid penetration of
broadband internet will impel the growth of the video telemedicine market,
finds a latest report by Transparency Market Research. The report, titled, “Video
Telemedicine Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2014 - 2020”, says that by 2020, the market’s valuation will touch
US$1,624.4 mn, up from US$559.0 million as of 2013. The global video
telemedicine market is expected to register a CAGR of 16.5% between 2014 and
2020, the report further states. A detailed segmentation of the market helps
build a solid foundation for the study. To this end, the global video telemedicine
market has been segmented on the basis of application, communication
technology, and geographical distribution.
With age come a variety of
mobility issues. As the world’s graying population base expands dramatically,
there is a pressing need for healthcare services and specialists to reach out
to these aged individuals rather than the other way round. This factor will
lead to an unprecedented interest in the deployment of video telemedicine
solutions, especially in countries where the majority of the population is
already connected to the internet. In both developed and underserved regions of
the world, governments have realized the many benefits of video telemedicine
consultations, creating a smoother path for the growth for the global video
telemedicine market.
The key restraints that will
stand in the way of the market’s growth, however, are: Reluctance to adopt new
technologies, a dearth of skilled staff to enable the seamless deployment of
video telemedicine, and the underdeveloped network infrastructure in many
regions of the world. Companies in the telemedicine market can find a way
around these problems by introducing integrated telemedicine solutions that are
easy to use and cost less than the existing options.
With the aim to drill down to the
second and third level of the global video telemedicine market, the report
segments the market by communication technology into: 3G (GSM, CDMA, Others),
Satellite Communications, 4G (LTE, WiMax & Others), Broadband Integrated
Services Digital Network (B-ISDN), and Asymmetric Digital Subscriber Line
(ADSL).
Furthermore, the report provides
extensive qualitative information about the following communication
technologies in the context of the video telemedicine market: Asynchronous
Transfer Mode (ATM) and IP Multimedia Systems (IMS). The highest revenue
generating segment in 2013 in the global video telemedicine market, according
to the report, was that of ADSL-based video telemedicine segment. However, as
the adoption of 4G spreads across the world, the 4G-based video telemedicine
segment is poised on the brink of seeing impressive growth.
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By
application, the global video telemedicine market is segmented into
dermatology, cardiology, gynecology, psychiatry and neurology, oncology,
orthopedics, dentistry, radiology, and orthopedics. While video telemedicine
was most widely used for gynecology-related consultation in 2013, the use of
neurology and psychiatry segment will see patients and doctors heavily relying
on video telemedicine in the coming years. As a result, the neurology and
psychiatry segment will exhibit a remarkable 17.0% CAGR from 2014 to 2020.
North
America saw the highest use of video telemedicine and will continue to remain
the key market over the near future. Projected to expand at a CAGR of 15%
through the report’s forecast period, companies will continue to invest
considerably in the North America video telemedicine market.
Companies
profiled in the report include: ZTE Corporation, Siemens Healthcare, Global
Media Group, LLC., LifeSize Communications, Inc., AMD Global Telemedicine,
Inc., Sony Corporation, Logitech International S.A., Vidyo, Inc., Premiere
Global Services, Inc., and Huawei Technologies Co. Ltd.
Global Telemedicine Market Segmentation,
by Communication Technology
•3G
(GSM, CDMA, Others)
•4G
(LTE, WiMax, Others)
•Satellite
Communication
•ADSL
(Asymmetric digital subscriber line)
•Broadband
ISDN (Integrated Services Digital Network)
Global Telemedicine Market Segmentation,
by Application
•Cardiology
•Dermatology
•Neurology
& Psychiatry
•Orthopedics
•Oncology
•Radiology
•Pathology
•Gynecology
•Dentistry
Major geographies analyzed under this
research report are:
•Europe
•North
America
•Asia-Pacific
•Rest
of the World
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