The Global Telemedicine Market is estimated to be $16.5 billion in 2014 and is expected to reach $52.3 billion by 2022 growing at a CAGR of 15.51% from 2014 to 2022. The factors driving the Global Telemedicine Market include lack of skilled professionals in remote areas, increasing number of Smartphone users, cost and time efficiency, rising cost of healthcare services and increasing demand for personal healthcare. However factors such as delayed response, Reimbursement Issues and high operating costs are restraining the market growth. The shortage of physicians in rural areas provides opportunity for the market growth.
The Telemedicine Market is segmented by end user, application, technology and geography. By end user, the market is categorized into Telehospital/Teleclinic and Tele-home Market. On the basis of application, the market is categorized into Tele-dermatology, Tele-cardiology, Tele-gynecology, Tele-orthopedics, Tele-neurology, Tele-emergency Care, Tele-Consultation and Others. By technology, the market is market is segregated into Hardware, Software, Telecom and network. North America and Europe lead Telemedicine Market because of high acceptance of technologies in these regions.
Some of the key players in Telemedicine Market include Philips Healthcare, Siemens Healthcare, IBM, GE Healthcare Ltd., McKesson Ltd., Cerner, Honeywell Life Care Solutions, Cardio Net Inc., AMD Telemedicine and Cisco Systems
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