Global Market for Telemedicine Technologies to Reach $43.4 Billion in 2019; Telehome Segment Grabs Market Share

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Oct 09, 2014, 09:00 ET

WELLESLEY, Massachusetts, October 9, 2014 /PRNewswire/ --

BCC Research reveals in its new report, GLOBAL MARKETS FOR TELEMEDICINE TECHNOLOGIES, the global telehospital/clinic and telehome market is expected to grow to $43.4 billion by 2019, with a five-year compound annual growth rate (CAGR) of 17.7%. The telehome category, the dominant market segment, is surging at a tremendous 24% CAGR.

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There has been a global focus on the use of telemedicine as a tool to cut healthcare costs and bring about significant savings. Implementation of the new U.S. healthcare law has intensified this focus by increasing the number of people with health insurance and seeking medical services.

The telehospital/clinic market category, which comprises services that are provided within or between hospitals, clinics or other healthcare providers, is expected to reach $19.5 billion in 2019 and register a CAGR of 12%.

However, the telehome category, the largest and fastest growing segment of the market, is forecast to jump from just $6.5 billion in 2013 to nearly $24 billion in 2019. Consequently, this segment, which provides teleservices to the outpatient, is expected to increase its share of the market from 40% in 2013 to 55% by 2019.

"In the near to midterm, telemedicine technologies offer one of the few ways of enabling healthcare personnel to meet the increased demand for healthcare services without unacceptable delays or service rationing," said BCC Research healthcare analyst Andrew McWilliams. "The growing adoption of telemedicine services is expected to significantly impact larger markets such as healthcare, health insurance, home care, telecommunications (telecom), networking, disease management, e-health, and healthcare IT."

Global Markets for Telemedicine Technologies provides an overview of the global telehospital/clinic and telehome technologies. It includes analyses of global market trends, with data from 2012 and 2013, estimates for 2014, and projections of CAGRs through 2019.

Editors and reporters who wish to speak with the analyst should contact Steven Cumming at [email protected].

Tel: +1-978-870-3345

About BCC Research

BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years, we have helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1)781-489-7301 (U.S. Eastern Time), or email [email protected].

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49-2 Walnut Park, Wellesley, MA 02481, Telephone: (+1)781-489-7301; Email: [email protected] as the source and publisher. Thank you.

GLOBAL MARKETS FOR TELEMEDICINE TECHNOLOGIES (HLC014G)

SOURCE BCC Research LLC