2014-02-12 04:26:03 - Global Telemedicine Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Telemedicine market is to grow at a CAGR of 18.9 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased remote monitoring of patients. The Global Telemedicine market has also been witnessing an increase in the number of strategic partnerships among vendors. However, the lack of common standards could pose a challenge to the growth of this market.
One of the significant trends in this market is that its major players are focusing on R&D activities to launch innovative products and services. For instance, in 2008, Siemens Healthcare introduced the ARTISTE Solution, and Mennen Medical introduced the VitaLogik 4000 Series Patient Monitor. Other vendors have also been developing innovative products to
increase product quality. RTX Healthcare, for instance, introduced a new wireless telehealth monitor, and Cardiac Science introduced Quinton Q-Tel RMS 3.0 in May 2007. Further, SHL Group Ltd. introduced the Advanced ECG Transmission Device, Honeywell introduced Telehealth Ecosystem in October 2007, and TeleVital launched a telemedicine service.
One of the main drivers is the increased adoption of remote patient monitoring worldwide. Remote monitoring of patients through telemedicine is rapidly gaining acceptance in the EMEA region, where the number of people over 65 years of age are the highest in the world. Moreover, the Global Telemedicine market is experiencing a significant increase in the number of federal grants offered in the US.
One of the major challenges in the market is the high cost of telemedicine technology. The rapid emergence of mHealth applications, diagnosis through medical images, telecare assistance for patients, and other expensive telemedicine technologies has increased the cost of telemedicine software and services.
The key vendors dominating this space include Agfa-Gevaert NV, AMD Global Telemedicine Inc., Honeywell HomMed LLC, and Philips Healthcare. The other vendors mentioned in the report are Alcatel-Lucent, Cisco, American Telecare Inc., Cybernet Medical Corp., Lifesize Communications, Lifewatch AG, Polycom Inc., Robert Bosch Healthcare, Sony Corp., SHL Telemedicine Ltd., Vamstec, Viterion Telehealthcare, and Zydacron.
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