March 09, 2012
Wellesley, Mass. – According to a new technical market research report, GLOBAL MARKETS FOR TELEMEDICINE TECHNOLOGIES (HLC014E) from BCC Research (www.bccresearch.com), the global telehome and telehospital market was valued at $11.6 billion in 2011 and is expected to increase to $27.3 billion in 2016, a five-year compound annual growth rate (CAGR) of 18.6%.
The telehospitals and clinics segment accounted for $8 billion in 2011 and is expected to increase at a CAGR of 16.8% to reach nearly $17.6 billion in 2016.
The telehome segment accounted for $3.5 billion in 2011 and is expected to increase at a CAGR of 22.5% to reach $9.7 billion in 2016.
The telemedicine market can also be segmented into technology (hardware, software, telecom, network) and service segments. The telemedicine technology market is expected to grow from $3.8 billion in 2010 to $4.6 billion in 2011 and $11.3 billion in 2016, with a CAGR of 19.8% over the next five years. The telemedicine service market is expected to grow from $5.9 billion in 2010 to $7 billion in 2011 and nearly $16 billion in 2016, mainly driven by growth in the telehospital service market.
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 technology offers one of the few ways of enabling healthcare personnel to meet the increased demand without unacceptable delays or other forms of de facto rationing.
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.
Global Markets for Telemedicine Technologies( HLC014E )
Publish Date: Mar 2012
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.