“Inclining Healthcare expenditure, Surging chronic diseases, and low doctor to patient ratio drives the market to capture more than 50% of the global share”, says RNCOS.
Noida, UP -- (SBWIRE) -- 06/05/2015 -- According to a new research report by RNCOS entitled, "Global Telemedicine Market Outlook 2020", North American market for telemedicine would grow at CAGR of 19.3% from 2014-2020 to become US$ 27.9 Billion by 2020. The increasing healthcare expenditure is one of the major concerns in North America which propel the market for telemedicine by providing extensive telemedicine monitoring installation throughout. The need to cut down healthcare costs has driven the number of telehealth patient population upward to increase six times in North America.
Further, increasing number of multiple chronic disease patients along with quickly rising population of aging baby boomers, shortage of disease management, and requisite healthcare facilities are anticipated to drive the market for remote monitoring of patients. Thus, enhanced remote monitoring of patients promises long-term growth for the telemedicine market. In addition to the aforementioned factors, high prevalence of severe metabolic diseases is some of the main drivers for growth of the sector. The number of senior citizens in the US is expected to rise during the next 20 years and by 2050 it is projected to be approximately 89 Million which will lead to increase in demand for remote medical facilities.
The report is spread in over 75 pages and provides an in-depth research and rational analysis of the current status and future prospect of the Global Telemedicine Industry. The report provides a clear picture of the technology, factors driving the industry growth, and challenges faced by the industry. In addition to this, the study includes mergers & acquisition deals that have occurred during past two years. The report further highlights market segmentation of the industry by types of users, applications and geography. With special emphasis on competitive landscape and the share of dominant players in the market, the research provides valuable information to the investors who are looking to enter in this market.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.