Telemedicine became an amalgamation of medical sciences and telecommunication technology: MRRSE

Albany, NY, May 13, 2016 (GLOBE NEWSWIRE) — According to the research report, the cost efficiency of telemedicine systems is the key factor behind the growth of the global telemedicine market. Along with this, the benefits of receiving personal healthcare in the privacy and comfort of one’s home are also prompting people to turn to telemedicine. 

Telemedicine is the evolved format of traditional medicine that provides medical care to millions of individuals worldwide with the benefits of cost efficiency and convenience of location. The basic difference between traditional healthcare technology and telemedicine is the use of telecommunication technology to provide patients and medical practitioners the convenience of location, cost and time. 

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This research report provides a detailed analysis of the global telemedicine market and helps in understanding the various factors influencing the growth of the market. The market overview section analyzes market dynamics and trends such as drivers, restraints and opportunities that influence the current nature and future status of the global telemedicine market. The executive summary provides detailed insights about this study and the market in general. It also contains a market snapshot, which provides a glimpse into the present scenario of the global telemedicine market. Impact factors such as market attractiveness analysis and Porter’s five forces analysis have also been explained in the market overview section of the report in order to deliver a thorough analysis of the overall competitive scenario of the global telemedicine market.  

The global telemedicine market is segmented based on medical specialty areas and type of services being offered/used. Based on the type of specialties, the market is segmented into cardiology, neurology, dermatology, orthopedics, emergency care, internal medicine, gynecology and other specialty areas namely gastroenterology, pediatric care, ophthalmology and dentistry. 

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Geographically, North America was the largest telemedicine market in terms of revenue for the year 2013 followed by the Asia Pacific region. The Asia Pacific region also exhibited the fastest growth rate was and is expected to lead the global market by the end of the decade. Rising populations in rural and urban areas and increased government initiatives are the primary reasons why this region boasts of a high growth rate. This coupled with the existence of a large number of technology manufacturing units in this region offering cheaper equipment, shall ensure steady market penetration and market growth for the future.   

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The telemedicine market is observed to be a highly diverse market with the presence of a large number of big and small players. However a noted few players present themselves as the largest telemedicine companies globally. These include, CISCO Systems, Inc., AMD Global Telemedicine, Inc., Polycom Corp. and McKesson Corporation, to name a few. Among these, CISCO Systems, Inc was found to have the largest global presence, offering a wide range of telemedicine services worldwide. Their market presence in emerging markets and expertise in providing software solutions paved the way to their stronghold in the industry. The other companies include, Agfa HealthCare NV, Allscripts Healthcare Solutions, Inc., AMD Global Telemedicine, Inc., CARDIOCOM, LLC, CISCO Systems, Inc., F. Hoffmann-La Roche Ltd., Honeywell HomMed LLC, InTouch Technologies, Inc., LifeWatch AG, Medtronic, Inc., OBS Medical Ltd., Siemens Healthcare, and McKesson Corp. 

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