New York, NY -- (SBWIRE) -- 01/28/2021 -- The systematic blend of IT and telecommunication—video telemedicine aids in providing healthcare services at remote or distant places. It enables medical professionals to share information at numerous locations, reducing the overall healthcare costs and outpatient visits. The market for video telemedicine is predicted to hit USD 3.55 Billion in the year 2027.
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Leading Players Profiled in the Report Include:
Cisco Systems, Inc, Huawei Technologies Co. Ltd., AMD Global Telemedicine, Inc., Logitech, Plantronics, Inc., Cisco Systems, Sony Corporation, GlobalMed, Vidyo, Inc., Lifesize, Inc., ZTE Corporation and Vermont Telephone Company, Inc., among others.
Market Dynamics
The elevating need for advanced healthcare services for patients residing in remote areas or isolated communities is triggering the demand for services in video telemedicine. Furthermore, the less availability of skilled medical professionals in remote areas is also stimulating the need for video telemedicine, thus, promoting the market's growth. The industry growth is fueled by several factors, including rising incidence frequency of several severe conditions, rapid expansion in the patient pool globally, the growing requirement for varied healthcare services such as cardiology and radiology, and unavailability of service providers and healthcare professions in various rural areas. Surging demand for teleconsultation with doctors, the rapidly growing applications of video telemedicine in healthcare, and the recent pandemic outbreak are the crucial factors accelerating the industry's growth.
Regional Analysis
In the geographical scenario, North America registered above 35% of the overall industry share in the year 2019 and has been presumed to observe an exponential growth rate due to increasing smartphone health apps, the rising deployment of telemedicine applications, combined with government initiative and support for deploying modern healthcare service in the countries like the U.S. The region of Asia Pacific is expected to grow at a CAGR of 16.7% due to favorable initiatives by several countries to improve healthcare services and medical facilities.
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For the purpose of this report, Reports and Data has segmented the Global Video Telemedicine Market on the basis of component, communication technology, application, end-user, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Services
Products
Communication Technology Outlook (Revenue, USD Billion; 2017-2027)
3G
4G
5G
Broadband ISDN
Satellite Communication
ADSL
Application Outlook (Revenue, USD Billion; 2017-2027)
Neurology & Psychiatry
Cardiology
Orthopedics
Dermatology
Radiology
Gynecology
Oncology
Dentistry
Pathology
End-User Outlook (Revenue, USD Billion; 2017-2027)
Home Care Services
Hospitals
Clinics
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Video Telemedicine Market Segmentation & Impact Analysis
4.1. Video Telemedicine Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
Continued…
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