The global video telemedicine market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for healthcare services among patients living in rural areas.
Video telemedicine is the systematic combination of telecommunication and information technologies to provide healthcare services even from a different place. As telemedicine provides easy access to healthcare facilities and connection to experts through various devices over telecommunication systems, expense on the healthcare institutions and system has been substantially reduced. This system of telemedicine technology is more supportive for geriatric patients who are not capable of travel long distances for routine healthcare check-ups. In rural areas where healthcare services are not easily available, patients are largely benefitted from telemedicine for timely and easier access to healthcare professionals in terms of urgent situations.
Market Trends, Drivers, Restraints, and Opportunities
- Wide prevalence of several diseases and rising demand for healthcare services from patients living in remote and distant place that lack proper access to healthcare facilities are key drivers of the market.
- Technology advancements in providing advanced telemedicine services of patients from distant places are expected to register lucrative growth of the market.
- Increasing demand to decrease the overall cost and growing pool of outpatient visits are some of the major factors to positively influence the market growth.
- Rising prevalence of white coat syndrome, hospital-acquired infection, and growing demand for efficient and quick diagnosis are expected to boost the market growth.
- Lack of awareness related to telemedicine in less developed countries and lack of skilled and trained professionals to operate telemedicine devices are some of the key challenges that can hamper the growth of the market.
Scope of the Report
The report on the global video telemedicine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
|
Details
|
Report Title
|
Video Telemedicine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
Base Year
|
2020
|
Historic Data
|
2018–2019
|
Forecast Period
|
2021–2028
|
Segmentation
|
Applications (Oncology, Cardiology, Dermatology, Radiology, Gynecology, Orthopedics, Dentistry, Pathology, and Neurology), Technology (4G [Wimax, LTE, and Others], 3G [CDMA, GSM, and Others], Asymmetric Digital Subscriber Line, Multimedia Core Network Subsystem IP, Broadband ISDN, Asynchronous Transfer Mode, and Satellite Communications)
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
Key Players Covered in the Report
|
Life-size Communication Inc.; Vermont Telephone Company; Logitech International S.A.; Cisco Systems Inc.; Premier Global Services Inc.; Sony Corporation; Huawei Technologies Co Ltd.; VSee Lab Inc.; GlobalMed Inc.; and Vidyo Inc.
|
Market Segment Insights
Gynecology segment is expected to grow at a rapid pace
Based on applications, the global video telemedicine market is divided into oncology, cardiology, dermatology, radiology, gynecology, orthopedics, dentistry, pathology, and neurology. The gynecology segment is expected to grow at a rapid pace during the projected period owing to increasing awareness among women regarding their health risk and growing demand for privacy between the healthcare professionals & patients. However, the neurology segment is projected to account for a key share of the market in the coming years due to an increasing incidences of psychiatric consultancy cases and rising pool of long care chronic disorder patients globally.
Asymmetric digital subscriber line segment is projected to expand at a considerable CAGR
On the basis of technology, the market is segmented into 4G, 3G, asymmetric digital subscriber line (ADSL), multimedia core network subsystem IP, broadband ISDN, asynchronous transfer mode (ATM), and satellite communications. The 4G segment is further divided into Wimax, LTE, and others; while the 3G segment is sub-segmented into CDMA, GSM, and others. The asymmetric digital subscriber line segment is projected to represent a key share of the market during the forecast period owing to increasing demand for speed, user-friendly technology, and high popularity of ADSL over other technologies. On the other hand, the 4G segment is anticipated to expand at a rapid pace during the forecast period due to increasing demand for quick download rate, data transfer rates, and lower infrastructural cost.
North America is anticipated to constitute a key market share
In terms of regions, the global video telemedicine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to constitute a key share of the market during the projected period owing to implementation in video telemedicine, continuous developments, increasing resource utilization, and growing demand for the avoidance of unnecessary transportation in the region. The market of Asia Pacific, however, is expected to register a high CAGR during the forecast period due to increasing geriatric population, growing population base, rising patent and healthcare practitioners awareness in the region.
Segments
The global video telemedicine market has been segmented on the basis of
Applications
- Oncology
- Cardiology
- Dermatology
- Radiology
- Gynecology
- Orthopedics
- Dentistry
- Pathology
- Neurology
Technology
- 4G
- 3G
- Asymmetric Digital Subscriber Line
- Multimedia Core Network Subsystem IP
- Broadband ISDN
- Asynchronous Transfer Mode
- Satellite Communications
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Life-size Communication Inc.
- Vermont Telephone Company
- Logitech International S.A.
- Cisco Systems Inc.
- Premier Global Services Inc.
- Sony Corporation
- Huawei Technologies Co Ltd.
- VSee Lab Inc.
- GlobalMed Inc.
- Vidyo Inc.
Competitive Landscape
Key players competing in the video telemedicine market are Life-size Communication Inc.; Vermont Telephone Company; Logitech International S.A.; Cisco Systems Inc.; Premier Global Services Inc.; Sony Corporation; Huawei Technologies Co Ltd.; VSee Lab Inc.; GlobalMed Inc.; and Vidyo Inc. The main market players are continuously engaged in certain developmental activities such as mergers, acquisitions, research and developments, investments for innovative products, and collaborations to solidify their market position globally.