Video Telemedicine is a medical activity where a medical institution or patient invites other medical institutions to use communication, computer, and network technology to provide technical support for the diagnosis and treatment of patients. Video telemedicine can eliminate the geographical restrictions on access to medical services, make it easier for doctors to adapt to the needs of the community, and can significantly reduce medical expenses.
The global video telemedicine market has the potential to grow with potential CAGR in the forecast period from 2020-2027. The factors that are driving the market demand of global video telemedicine are emerging technology that helps in improving healthcare infrastructure and improving medical treatment of patients living in remote areas.
With the accelerated development of network connections, the popularity of smartphones, continuous changes in insurance industry guidelines, beginning to use electronic communication devices to complete their work, and the telemedicine industry has received unprecedented opportunities for development.
Moreover, with the high-speed transmission of 5G, doctors in large cities can perform a precise operation for patients in remote mountainous areas. In addition to it, with the help of artificial intelligence for image recognition, many diseases have been able to be screened more effectively.
Compared with traditional medical methods, video telemedicine breaks the regional restrictions, makes up for the shortage of medical resources in remote areas. It further improves the medical service level in large cities and dramatically promotes the development of medical and health care.
Also, video telemedicine has changed the relationship between traditional medical service providers and patients. At the same time, it has promoted the continuous upgrading of competition among some prestigious medical institutions, which is conducive to the improvement of the overall therapeutic level.
The increasing geriatric population is emerging the level of chronic diseases such as cardiovascular diseases, neurological diseases, rising cancer patients are driving the healthcare infrastructure. With the advancement in technology integrating, healthcare functions will help in providing better treatment to the patients. Thus, video telemedicine will help in providing natural and frequent therapy to the patient in times of emergency.
Telemedicine is an evolution of traditional medicine, providing medical services to individuals around the world, with a cost-effective and convenient geographic location. With the emergence of communication technology for medical science, telemedicine provides patients with newer possibilities to obtain a healthier lifestyle, thereby improving their healthcare coverage and patient satisfaction. Patients no longer need to travel or wait while they can seek medical treatment in the comfort of their homes.
Based on the communication, the global video telemedicine market segmented into 3G, 4G, Satellite Communication, ADSL, Broadband ISDN. The ADSL segment accounted for the largest share in the worldwide video telemedicine market. ADSL makes full use of the existing telephone lines and realizes high-speed transmission at a low cost. It can provide users with high-speed Internet access, video on demand, remote medical treatment, remote education, and other services. It is currently the most realistic and cost-effective broadband access technology.
Based on the application, the global video telemedicine market classified into Cardiology, Dermatology, Neurology & Psychiatry, Orthopedics, Oncology, Radiology, Pathology, Gynecology, Dentistry. Neurology segment accounts for the largest share in the global video telemedicine. It is mainly owing to the emerging incidence of long-term neurological disorders where patients need frequent consultations with physicians. Therefore, psychiatric consultation is bolstering its market demand due to increasing cases for Parkinson’s disease and Alzheimer’s.
Based on the deployment, the global video telemedicine market bifurcated into Cloud-Based Video Conferencing, On-Premise Video Conferencing. The cloud-based segment accounts for the largest share of the video telemedicine market in the forecast period. Cloud Video Conferencing occupies a significant advantage in deployment mode. It has low requirements for infrastructure and also does not require high bandwidth and professional maintenance, which significantly improves its deployment efficiency. Cloud video conferences do not need to consider expensive MCUs and platform equipment, and only need to purchase video terminals to achieve coverage within a specific range of video conferences.
Based on the component, the global video telemedicine market categorized into Hardware, Software. The software segment dominates the market for the global video telemedicine market. Physicians or patients only need to download and install video conferencing software and log in to the corresponding interface with their account so that they can quickly and efficiently share voice, video, data, and medical files with medical users around the world.
Based on the end-user, the global video telemedicine market classified into Hospitals, Clinics, Home Care Services. The home care services have dominated the largest share in the worldwide video telemedicine market. It is mainly due to the emerging geriatric population, which increases the demand for frequent consultation services are driving the market demand for the global video telemedicine.
Based on geography, the global video telemedicine market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region is dominating the market share of the global video telemedicine market. It is mainly owing to the economic development, adoption of cloud-based service, the constant evolution of telecommunication, and emerging chronic diseases of the geriatric population. Thus, propelling the market demand for global video telemedicine market.
Companies such as AMD Global Telemedicine, Inc., Logitech, Cisco Systems, Inc., Huawei Technologies Co., Ltd., Sony Corporation, Plantronics, Inc., GlobalMed, Vidyo, Inc., Lifesize, Inc., VSee, ZTE Corporation, Vermont Telephone Company, Inc., West Corporation, Avaya Inc., Plantronics, Inc., Premiere Global Services, Inc, Allscripts, Aerotel Medical Systems (1998) Ltd, Lifesize, Inc, Redox, Inc., and others are key players in the global video telemedicine market.
By Communication Technology