ALBANY, New York, January 23, 2018 /PRNewswire/ -- Global Telemedicine Technologies and Services Market: Advancements in Imaging Technologies to Accentuate Growth
The global Telemedicine Technologies and Services Market stood at US$21.1 billion in 2014. The market is projected to reach US$86.7 billion by 2023 end. This represents an impressive CAGR of 17.2% during 2015-2023.
Popularity of ICT-based Medical Services to Provide Thrust to Adoption of Telemedicine
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The drive for telemedicine technologies and services stems from the intensifying need for novel and cost-effective ICT-based medical services to increase the quality of patient care. The growing demand for multidimensional approaches in healthcare is a notable factor catalyzing the growth of the market. The growing demand for a universal accessibility to healthcare, especially at remote locations in various parts of the world, is a key factor stoking the demand for telemedicine. The pressing need for real-time clinical care in critical care and emergency settings is bolstering the demand for telemedicine technologies and services. A rising demand for geriatric care in numerous developing and developed regions is contributing to the growth of the market.
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The presence of a wide array of telemedicine technologies and services for delivering real-time patient information, especially in less developed communities is a prominent trend boosting the market. The growing popularity of real-time telemedicine services for taking second opinion with healthcare providers is also accentuating to the growth of the telemedicine technologies and services market. Advancements in connected medical device technology bodes well for the overall market. Favorable reimbursement scenarios in several developed nations and the rising demand for cost-effective telehealth services in several developing nations are prominent trends accentuating the market. The extensive adoption of videoconferencing units in offering telemedicine solutions is boosting the market.
Integrated Telemedicine Services Witness Wide Demand
However, the paucity of clinicians practicing telehealth, especially in developing and less developed communities, is a notable factor that is likely to act as a bottleneck to the growth of the market. The unreliability and the perceived effectiveness of virtual consultation as compared to in-person visits is a notable challenge that need to overcome for the steady growth of the market. Confidentiality of the patients' information is another noteworthy concern crippling the growth of the market.
