STUDY GOALS AND OBJECTIVES
This is an update of an earlier BCC report (Jan. 2011). BCC’s goal in updating the report is to assess the impact of recent technical, economic, legal/regulatory, business and other developments on the global market for telemedicine technologies and services. Objectives of both the original and the updated studies include:
- Defining new avenues in the telemedicine market, mainly in terms of cutting-edge technology development, value-added services and newer applications.
- Providing an in-depth understanding of the economics of telemedicine in terms of business models, a cost-benefit analysis and information for an investment business case.
- Identifying opportunities for all the stakeholders in telemedicine.
- Making a comprehensive market forecast (2011 to 2016) of telemedicine and all its key subsegments.
BCC’s key objective is to present a comprehensive analysis of the current telemedicine market and its future direction.
REASONS FOR THE STUDY
Companies require clarity regarding the main markets for telemedicine technologies and services. BCC is interested in providing a comprehensive market forecast for multiple market segments (e.g., technologies, services, applications, geographical).
There has been a global focus on the use of telemedicine as a tool to cut down healthcare costs and bring about mammoth savings. Implementation of the new U.S. healthcare law will, if anything, intensify this focus, by increasing the number of people with health insurance and seeking medical services. In the near to mid-term, telemedicine technologies offer one of the few ways of enabling healthcare personnel to meet the increased demand without unacceptable delays or other forms of de facto rationing.
BCC is interested in studying the ways in which collaborative healthcare can be better and more economically implemented through telemedicine. Recently announced best practices to cut down global healthcare costs, including outsourced medical services, home-based treatment, intervention as opposed to post treatment, integrated information technology (IT) environments, increased efficiency of healthcare resources and reducing billing gaps, all point toward the increasing use of telemedicine.
BCC aims to identify the key success factors in the telemedicine market and to gauge the ways in which this market can significantly affect larger markets such as healthcare, health insurance, home care, telecommunications (telecom), networking, disease management, e-health and healthcare IT. The report is well timed, as major Tier I stakeholders are entering the telemedicine market.
This report is intended for telemedicine hardware manufacturers, software providers, telecom and networking companies, the healthcare industry and healthcare insurance companies. Key takeaways include the identification and quantification of markets for technology and services in the telemedicine market. Opportunities are defined in terms of market forecasts, avenues, trends, market drivers and competitive gaps.
TELEMEDICINE HARDWARE MANUFACTURERS
This includes hardware manufacturers of home care units (e.g., vital signals), videoconferencing equipment and store-and-forward (i.e., radiological and pathological) units. The report provides market forecasts for the five-year period from 2011 through 2016. It provides analysis of recent technology developments and includes profiles of main players, benchmarking information, key buying criteria and value-chain mapping.
TELEMEDICINE SOFTWARE PROVIDERS
Market forecasts are included for telehome and telehospitals/clinics across different geographic markets.
TELECOM AND NETWORKING COMPANIES
The report describes a business model that can be executed by large telecom companies that can use it to increase their market share over the near to mid-term. Telecom companies can use the business model to facilitate consolidation. They can also get an overview of the total number of connections forecast for telemedicine users and a forecast of the market.
TELEMEDICINE SERVICE PROVIDERS
The report provides telemedicine integrators with a market forecast of the telemedicine service market. It highlights value-added services and unique business models of telemedicine that can help to win business success.
Hospitals, home care companies, disease management companies, specialists and clinics can obtain a detailed market forecast for telecardiology, teleradiology, telepsychiatry, teledermatology, telepathology and other telemedicine applications.
HEALTH INSURANCE COMPANIES
Private and government health insurance companies will get a comprehensive and in-depth understanding of the global telemedicine market and all its main players. This report provides business cases to aid their decisions when investing in telemedicine.
SCOPE AND FORMAT
This report focuses on global markets for telemedicine technologies and services. The discussion is organized into 13 chapters and three appendices, as shown below:
- Telemedicine Overview.
- Telemedicine Technologies and Global Markets (including analysis of key patents).
- Telemedicine Applications.
- Economics of Telemedicine.
- Stakeholders: Opportunities Analysis.
- Consolidation and Ownership Trends.
- North American Markets.
- EU Markets.
- Japanese Market.
- Other Geographical Markets.
- Appendix A: Company Profiles.
- Appendix B: List of Telemedicine Programs Studied.
- Appendix C: Acronyms.
METHODOLOGY AND INFORMATION SOURCES
BCC Research obtained the information on which this report is based from interviews with manufacturers and users of telemedicine technologies and services, as well as from reviews of secondary sources such as company literature, conference proceedings and related government data.
Earlier editions of this report contained an in-depth benchmarking analysis of major programs operating globally in terms of the technology deployed, funding arrangement, telemedicine suppliers, operations and number of sites. Although they are now several years old, the results of this analysis, updated where possible, are included here because of the unique nature of this report.
BCC Research based its market projections on various factors such as technology developments and industry issues, among other conditions. All market projections are expressed in 2010 constant dollars.
The author of the original report on which this update is based is Sandeep Sugla. Sandeep holds a bachelor’s degree in electronics engineering and has six years of research experience in pharmaceuticals, healthcare, medical equipment and biotechnology.
The analyst responsible for updating the report is Andrew McWilliams, a partner at 43rd Parallel LLC, a Boston-based international technology and marketing consulting firm. Mr. McWilliams is the author of numerous BCC Research studies, including many related to telemedicine, such as HLC054B Home Medical Equipment: Technologies and Global Markets; HLC082A Emerging Markets for Advanced Medical Technologies; HLC066B Medical Automation Technologies, Products, and Markets; HLC048C Healthcare Information Technology; HLC038C Patient Monitoring; HLC036D Medical Robotics and Computer-Assisted Surgery: The Global Market.
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The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal or accounting advice, nor should it serve as a corporate policy guide, laboratory manual or an endorsement of any product, as much of the information is of a speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or from its use.