Telemedicine Market to Double
By
John Pulley
There has been a global focus on the use of telemedicine as a tool to cut down health-care costs and bring about mammoth savings," BCC researchers say. "Implementation of the new U.S. health care law will, if anything, intensify this focus. ... In the near to mid-term, telemedicine technologies offer one of the few ways of enabling health-care personnel to meet the increased demand without unacceptable delays or other forms of de facto rationing."
The global telemedicine market will more than double over the next five years to $27.3 billion, according to a report from Wellesley, Mass.-based market research firm BCC Research.
The report, Global Markets for Telemedicine Technologies, also finds that:
- The telemedicine market was estimated at $11.6 billion in 2011, up from $9.8 billion in 2010.
- The compound annual growth rate of the telemedicine market is estimated at 18.6 percent over the next five years. That figure represents the average projected year-over-year growth over the five-year period.
- The bulk of the market is represented by hospitals and clinics, at $8.1 billion, with the market expected to grow to $17.6 billion in 2016. The compound annual growth rate for the telehospital and clinic segment, at 16.8 percent, will lag slightly behind the rate for the entire market.
- The telehome segment will experience the fastest growth rate. The home market is expected to grow from $3.5 billion in 2011 to $9.7 billion in 2016, for a compound annual growth rate of 22.5 percent."
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