Top Ten Companies in Telemedicine Technologies
- Identification of the top 10 companies in telemedicine technologies and the rationale behind these selections.
- Factors that include technical innovation, market leadership, and commitment to this market via investment in products.
When selecting these top 10 companies, BCC Research looked across the industry spectrum and selected the most active and significant contributors while recognizing that there are many other contenders. Some of these “significant others” are included but to a less detailed extent than the top 10 companies.
Today, healthcare is one of the top economic and social problems across the globe. Put simply, the problem comes down to two factors: accessibility and affordability. Here in America, it is reported that U.S. citizens spend twice as much as citizens of other developed countries. However, citizens in the U.S. also report lower quality, efficiency and access of service than citizens in those same developed countries.
Globally, there is an increasing aging population plagued with chronic disease. These factors, combined with a focus on prevention and advancements in technologies, pharmaceuticals and treatments, will undoubtedly cause demand for healthcare services to continue to increase into the future.
REASONS FOR THE STUDY
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 who have health insurance and are 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.
There is interest 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.
Given these factors, it seems timely that BCC identify the top 10 companies in the telemedicine field and the key factors to success in the telemedicine market that these companies are exploiting.
The report will also help 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. This is also timely, as major tier-one stakeholders are starting to enter the telemedicine market.
STUDY GOALS AND OBJECTIVES
This document is a specialty report related to the BCC Research report HLC014E authored by Andrew McWilliams. The goal of this document is to provide a more in-depth look at the top-tier telemedicine companies as well as some of the second-tier companies to look for in the near future.
Key criteria used to determine top players in the field include:
- Financial standing.
- Established market presence.
- Positioning within the healthcare ecosystem.
- Company track record of deliverable solutions.
- End-to-end coverage vs. niche market solution.
- Parent and subsidiary company support.
- Intellectual property and strategic licensing portfolio.
In addition to this these factors that BCC has chosen to examine, BCC has selected these 10 companies for this report that it feels are deserving of recognition, and are leaders in their industry. This list includes:
- AMD Telemedicine Inc.
- Honeywell Hommed.
- International Business Machines Corp.
- LifeWatch AG.
- Robert Bosch Healthcare.
- SHL Telemedicine Ltd.
As any top-10 list is invariably subjective, there are also several companies profiled in less detail. These companies were on the bubble or should be watched in the near future, as they are currently on the rise.
This report is intended for telemedicine hardware manufacturers, software providers, telecom and networking companies, the healthcare industry and healthcare insurance companies. The report should also be of interest to those interested in entering the telemedicine market or to those looking to merge with, partner with or buy out existing players in the field.
The scope of this report is focused on a select 10 companies in telemedicine and the key areas in the field that are driving industry growth and allowing these companies to succeed. These areas include home health care services, monitoring services, medical devices and communications solutions.
Based on primary and secondary market analysis, this report analyzes the top 10 companies in telemedicine as well as some additional companies worth recognizing.
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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.