GLOBAL TELEMEDICINE MARKET TO REACH $27.3 BILLION IN 2016
Wellesley, Mass. – According to a new technical market research report,
GLOBAL MARKETSFOR TELEMEDICINE TECHNOLOGIES (HLC014E)
(www.bccresearch.com), the global telehome and telehospital market was valued at $11.6 billionin 2011 and is expected to increase to $27.3 billion in 2016, a five-year compound annual growthrate (CAGR) of 18.6%.The telehospitals and clinics segment accounted for $8 billion in 2011 and is expected toincrease 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 CAGRof 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 billionin 2010 to $7 billion in 2011 and nearly $16 billion in 2016, mainly driven by growth in thetelehospital service market.There has been a global focus on the use of telemedicine as a tool to cut down healthcare costsand 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 andseeking medical services. In the near to mid-term, telemedicine technology offers one of the fewways of enabling healthcare personnel to meet the increased demand without unacceptabledelays or other forms of de facto rationing.This report is intended for telemedicine hardware manufacturers, software providers, telecomand networking companies, the healthcare industry, and healthcare insurance companies. Keytakeaways include the identification and quantification of markets for technology and services inthe telemedicine market. Opportunities are defined in terms of market forecasts, avenues, trends,market drivers, and competitive gaps.