Industry Background:
Video telemedicine is healthcare service, which is delivery at a distance, by the by all health care professionals using information and communication technologies and video conferencing for the exchange of effective information for diagnosis, treatment and prevention of injuries and disease, research and evaluation, and for the continuing education of health care providers, all in the interests of advancing the health of individuals. According to the American Hospital Association and AVIA has reported in 2017 nearly 76 percent of U.S. hospitals currently connect with patients at a distance using video and other technologies to offers healthcare service to their patients. Growing technology advancement that supports telemedicine continues to improve, organizations turn to collaboration tools to streamline their approach towards the video telemedicine that has led to significant growth of the global video telemedicine market in the forecast period.
According to AMA, the market for Video Telemedicine is expected to register a CAGR of 17.34% during the forecast period to 2026. This growth is primarily driven by Rising Chronic Disease across the World and Increasing Need for Healthcare Services amongst Patient Living in Isolated Communities and Remote Areas.
Globally, a noticeable market trend is evident Growing Demand for Required Privacy for Patient, and Availability of 24/7 Consultations. The Health Care Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as AMD Global Telemedicine, Inc. (United States), LIFESIZE, INC. (United States), Siemens Healthineers AG (Germany), Cisco Systems, Inc. (United States), Vermont Telephone Company, Inc. (United States), Huawei Technologies Co., Ltd. (China), GlobalMed (United States), Polycom, Inc. (United States), Premiere Global Services, Inc. (United States) and Sony Corporation (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 16th June 2019, Vidyo, Inc. and Cloudbreak Health, LLC have announced a strategic agreement to jointly market the Vidyo telemedicine user experience with the award-winning MARTTI (My Accessible Real-Time Trusted Interpreter) Video Medical Interpreting service.
On 16th July 2019, AMD Global Telemedicine Inc. has integrated MyNICaS non-invasive hemodynamic monitoring technology to their AGNES platform. This technology provides a way for remote specialists to treat cardiac patients in place and identify high-risk patients before they are symptomatic.
Market Drivers
- Rising Chronic Disease across the World
- Increasing Need for Healthcare Services amongst Patient Living in Isolated Communities and Remote Areas
Market Trend
- Growing Demand for Required Privacy for Patient, and Availability of 24/7 Consultations
Restraints
- Rising Cyber Security Threats
- Lack of Capability in Installing IoT Solutions
Opportunities
Increasing Pool of Long Care Chronic Disorder Patient and Growing Prevalence of Psychiatric Consultancy Cases
Challenges
Increased Interoperability Risks Hospital Security
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Video Telemedicine Study Sheds Light on
The Video Telemedicine Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Video Telemedicine industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Video Telemedicine industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.