Telemedicine, the future of healthcare services, refers to offering assistance to patients from a distance. Chronic care management (CCM) services, a part of the umbrella term of telemedicine, are redefining the scope of this market. In a latest report published by The New England Journal of Medicine, it states the shortcomings of the IT offerings and CCM and insists on making a paradigm shift to reengineer the process of giving patients the much-needed care. These efforts are expected to make the future of CCM more patient-centric, increase the efficiency of care given to patients, and help the economic burden for both patients and hospitals.
The global telemedicine market is segmented on the basis of specialty, services, and geography. The specialties focused upon in the global telemedicine market are dermatology, cardiology, neurology, emergency care, orthopedics, internal medicine, gynecology, and others. The services offered in the global telemedicine market are tele-consultation, tele-education, tele-monitoring, tele-training, tele-care, and tele-surgery. Geographically, this market has been categorized into regions such as Asia Pacific, North America, Europe, and Rest of the World.
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Dermatology Emerges as the Clear Leader in Global Telemedicine Market
According to research analysts, dermatology is the leading specialty segment of the global telemedicine market. It has also been observed that the neurology segment is witnessing stupendous growth due to the growing number of cases of Parkinson’s, Alzheimer’s, and strokes. Other areas such as pediatric care, ophthalmology, and dentistry are also showing signs of growth due to the rising incidence of several diseases. The only segments to experience a slow growth pattern will be internal medicine, emergency care, orthopedics, and cardiology.
Tele-monitoring to Show Great Growth due to Rising Prevalence of Neurological Disorders
Amongst the wide range of services in the global telemedicine market, tele-consulting led the market in 2013. In the next few years, tele-monitoring is expected to witness a sturdy growth rate due to the ever-widening geriatric pool with disabilities and diseases such as cardiovascular complications and diabetes. Growth of the tele-monitoring segment will also be fueled by rising prevalence of Parkinson’s disease, Alzheimer’s disease, and other neurodegenerative disorders, which demand continuous monitoring.
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Asia Pacific to Grab Lion’s Share in Global Telemedicine Market
In 2013, North America led the global telemedicine market in terms of revenue. However, in the coming few years, Asia Pacific, its close follower, is expected to lead the global telemedicine market due to several reasons. The remarkable growth of the telemedicine market in Asia Pacific can be attributed to the region’s rising population, increasing government initiatives, and improved healthcare awareness. The growth of the market in the Asia Pacific region will also be due to the large number of technology manufacturers in the region who have the power to offer equipment at a lesser price, which will ensure market penetration in the next few years.
Some of the key players impacting the global telemedicine market are Allscripts Healthcare Solutions, Inc., Agfa HealthCare NV, Siemens Healthcare, CARDIOCOM, LLC, AMD Global Telemedicine, Inc., CISCO Systems, Inc., Honeywell HomMed LLC, F. Hoffmann-La Roche Ltd., InTouch Technologies, Inc., Medtronic, Inc., LifeWatch AG, OBS Medical Ltd., and McKesson Corp.