Telemedicine: Opportunities for Medical and Electronic Providers
The global telemedicine market is expected to grow from $9.8 billion in 2010 to $23 billion in 2015, at a compound annual growth rate (CAGR) of 18.6% over the next 5 years.
SCOPE OF REPORT
This report focuses on global markets for telemedicine technologies and services. The discussion is organized into nine chapters and appendices, as shown below:
- Telemedicine Overview
- Telemedicine Technologies and Markets (including analysis of key patents)
- Telemedicine Services
- Telemedicine Applications
- Economics of Telemedicine
- Opportunities Analysis
- Consolidation and Ownership Trends
- Profiles of Important Players
- List of Telemedicine Programs Studied
- Allowable Telemedicine Providers and Services for Medicaid Reimbursement
- Medicaid Reimbursement Mechanisms for Telemedicine
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 6 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, including HLC054B Home Medical Equipment: Technologies and Global Markets, HLC082A Emerging Markets for Advanced Medical Technologies, HLC066A Medical Automation Technologies, Products, and Markets, HLC048B Healthcare Information Technology, and HLC038C Patient Monitoring.
The global market for telemedicine increased from $4.8 billion in 2006 to an estimated $5.8 billion in 2007. It should reach $13.9 billion by 2012, a compound annual growth rate (CAGR) of 19%.
The telehome market currently accounts for 22% of the market and is expected to capture almost 37% of the telemedicine market by 2012.
The telemedicine service market is expected to grow from $3.6 billion in 2007 to $8.3 billion in 2012, mainly driven by the telehospital service market.
The current level of telemedicine expenditures is about $4.33 billion.
These expenditures will experience an AAGR of 9.7% from 2002 to 2007.
Procurement will continue to be the lead spending category through 2007.
In 2007, it will account for a total of $2.16 billion, or about 31% of all spending.
Fastest growth in technology spending will be software, at an AAGR of 12.9%.