Video telemedicine is the systematic blend of information technologies and telecommunication in consideration to provide healthcare services even at a distant place. Video telemedicine market is anticipated to lucrative growth opportunities over the forecast period owing to the factor such as growing demand for healthcare services amongst patient living in remote areas and isolated communities. Additionally, technological advancements such as the development in mobile collaboration technologies that can allow the healthcare professionals’ to share information in multiple locations, increasing pool of outpatient visits and growing demand to reduce overall cost of healthcare are some factors that are expected to boost market growth. Moreover, increasing incidences of hospital acquired infection, increasing prevalence of white coat syndrome and rising demand for quick & efficient diagnosis are few factors which are expected to boost the video telemedicine market growth.
On the basis of application, video telemedicine market is categories into cardiology, oncology, radiology, dermatology, orthopedics, gynecology, pathology, dentistry and neurology. In terms of revenue, gynecology segment is expected to be one of the most revenue generating product segment in video telemedicine market. Growing awareness among woman regarding their health risk and increasing demand for privacy between the healthcare professionals & patient are some factors attributing for its significant market share. However, neurology segment is anticipated to witness lucrative growth opportunity owing to the factors such as growing pool of long care chronic disorder patient and increasing prevalence of psychiatric consultancy cases. Furthermore, the availability of 24/7 consultations and increasing demand for required privacy for such patient are few factors which are further expected to boost usage rates. Based on various communication technologies, the video telemedicine market is segmented as ADSL (Asymmetric Digital Subscriber Line), 3G (CDMA, GSM and Others), 4G (WiMax, LTE and Others), IP Multimedia core network subsystem, broadband ISDN, asynchronous Transfer Mode (ATM) and satellite communications. In 2014, ADSL was one of the largest technological segments owing to factors such as high popularity of ADSL over other technologies, increasing demand for speed and user friendly technology are few factors responsible for its largest share. However, 4G technology is also expected to grow at a significant rate owing to the factors such as rising demand for faster data transfer rates & download rate and lower infrastructural cost.
Geographically, North America, Europe, Asia Pacific, MEA and Latin America are key regional markets included in the study. In 2014, North America accounted for the largest share of the market and is anticipated to continue its market dominance over the forecast period. Constant developments and implementation in video telemedicine, increasing resource utilization and growing demand for the avoidance of unnecessary transportation are few factors accounting for its largest share. However, Asia Pacific is witness lucrative growth over the forecast period owing to the factors such as rapidly growing population base, increasing geriatric population with long term chronic disease condition and rising patent and healthcare practitioners awareness regarding technological advancements in the field of video telemedicine.
Key market players in video telemedicine market include Vermont Tel, Life-size Communication Inc., Cisco Systems Inc., Logitech International S.A, Premier Global Services Inc., Huawei Technologies Co Ltd, Sony Corporation, GlobalMed Inc., VSee lab Inc. and Vidyo Inc.
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