Video Telemedicine Market Estimated to be Worth US$1,624.4 Million by 2020

Transparency Market Research has published a new report titled ” Video Telemedicine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”to its report store.

A survey conducted by the United Nations revealed that about 46% of the global population resides in rural areas, with little or no access to appropriate healthcare facilities. The advent of video telemedicine and deployment of superior communication technologies will enable the rural population to obtain timely and affordable healthcare assistance. Video telemedicine capitalizes on wireless technologies and high-quality video capturing devices to facilitate remote connectivity to offer timely healthcare assistance to the rural population.

The research report is compiled to provide a comprehensive blueprint of the global video telemedicine market. The elementary components shaping the development of the market are analyzed in the report to define the determinants of market growth and examine the potential market restraints. The report evaluates the market in terms of distinct product segments, consumer groups, end-use industries, critical applications, distribution network, and key geographic regions.

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For a more comprehensive overview, the report segments the video telemedicine market in terms of communication technology, applications, and geography. Based on communication technology, the market is divided into satellite communication, 3G, 4G, Broadband ISDN, and ADSL. With regard to application, the market is classified into dermatology, oncology, dentistry, cardiology, orthopedics, pathology, radiology, gynecology, and neurology & psychiatry.

Overview of the global video telemedicine market

The global video telemedicine market is projected to expand from its market value of US$559.0 million in 2013 to an estimated total of US$1,624.4 million by the end of 2020. Based on the projections, the market is likely to develop at a remarkable 16.5% CAGR between 2014 and 2020.

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As early as the 1980s, telemedicine largely relied on the progress exhibited by the video conferencing technology. However, with the integration of webcams, high-quality video sensors, and fiber optic broadband systems, the video telemedicine market has revolutionized modern medicine by enabling face-to-face communication between healthcare service providers and patients.

Impelled by factors such as rapidly increasing geriatric and disabled populations, favorable government initiatives encouraging the use of the latest technology in medicine, enhanced cost and time efficiency offered by the technology to the healthcare sector, and proliferation of new communication technologies, the market for video telemedicine is expected to demonstrate robust growth during the forecast period.

However, resistance in rural areas to accept new technologies, inadequate network infrastructure at present, and lack of skilled staff will emerge as the major bottlenecks for the market. Nonetheless, the untapped markets in emerging economies will present significant market opportunities for the market players in the healthcare sector.

Companies mentioned in the research report

The video telemedicine market primarily comprises system integrators, manufacturers, and network solution providers. Among the device manufacturers, key players in the market are AMD global Telemedicine and Logitech International S.A. Cisco Systems Inc. leads the market among the network service providers. Polycom Inc. is the most prominent among system integrators. Other key players in the market are Sony Corporation, Siemens Healthcare, Vermont Tel, Permier Global Services Inc., VSee lab Inc., Huawei Technologies Co Ltd, GlobalMed Inc., LifeSize Communication Inc., Vidyo Inc., and ZTE Corporation.

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

This report gives you access to decisive data such as:

Market growth drivers

Factors limiting market growth

Current market trends

Market structure

Market projections for the coming years

Key highlights of this report

Overview of key market forces propelling and restraining market growth

Up-to-date analyses of market trends and technological improvements

Pin-point analyses of market competition dynamics to offer you a competitive edge

An analysis of strategies of major competitors

An array of graphics and SWOT analysis of major industry segments

Detailed analyses of industry trends

A well-defined technological growth map with an impact-analysis

Offers a clear understanding of the competitive landscape and key product segments

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