World Telemedicine Market to Record an 18.7% CAGR to 2022, According to P&S Market Research Report Published at MarketPublishers.com01 Jun 2016 • by Natalie Aster
LONDON – The telemedicine industry reached USD 17.879 billion in revenue as of 2015, and it is set to record an 18.7% CAGR through to 2022. Amid the different services, tele-monitoring will likely witness the most rapid growth in the offing posting a 21.8% CAGR. Such significant growth rate is attributed to the mushrooming numbers of smartphone users, surging health requirements in remote areas, and the increasing ageing of the population.
The rising prevalence of lifestyle related and chronic diseases; surging healthcare expenditures; increased government investment in, and grants for telemedicine; pressing need for remote patient monitoring solutions, and persistent demand for enhanced quality of healthcare services are also giving a boost to the telemedicine sector worldwide. Meantime, high technology costs and a dearth of skilled professionals, along with inadequate healthcare infrastructure in developing economies could hinder the market growth. The global telemedicine sector has also seen a rising number of partnerships and collaborations.
The North America region is poised to continue to be the largest market due to advanced healthcare infrastructure, increased spending on healthcare, a hike in the ageing population, etc.
Cisco Systems Inc., LifeWatch AG, OBS Medical Ltd., Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions, Inc., McKesson Corporation, BioTelemetry Inc., General Electric Company, Koninklijke Philips N.V., and Medtronic PLC are a few of the leaders in the industry.
In-demand research report “Global Telemedicine Market” elaborated by P&S Market Research offers a comprehensive guide to the market from a global perspective. It presents a breakdown of the market based on specialty, service, end-use sector, and by geographic region. The study provides estimates of the market size (plus forecasts) for the overall industry and for each segment. It draws up a comprehensive picture of the market trends, opportunities, drivers and bottlenecks. Further, the research report delves deep into the competitive positioning analysis as well as includes detailed profiles of the players covering their strategic developments.
More insightful studies by this publisher are available at P&S Market Research page.