Industry Trends Analysis
The BRIC telemedicine market is expected to be around $2.7 billion by 2025. Rapid advancements in telecommunication technologies need for accessible healthcare in rural areas, and increasing predominance of chronic disorders in the BRIC nations are the key factors contributing to the market growth. Conversely, dearth of skilled resources, poor response time, high infrastructure costs, poor response by patients and doctors in rural areas, and associated privacy and security concerns related to telecommunication mediums can hamper the growth of BRIC telemedicine market during the forecast period.
Product Outlook and Trend Analysis
Services segment accounted for the largest share of the BRIC telemedicine market in 2016, due to increase in adoption of remote monitoring solutions. Technological advancements in telecommunication technologies will further assist better delivery of telemedicine services to the patients over the forecast period.
Application Outlook and Trend Analysis
Teleconsultation segment accounted for the largest market share in 2016, due to the associated benefit of eliminating the physical distance between the patient and the doctor through the telecommunication platform. Moreover, rising global geriatric population and increasing adoption of mobile monitoring solutions will further contribute to the growth of teleconsultation market.
Delivery mode Outlook and Trend Analysis
Web-based segment had the largest share of the BRIC telemedicine market in 2016, due to the presence of huge customer base and remote data accessibility. With increasing penetration of internet in emerging nations, the web-based market will experience favorable growth over the forecast period.
Regional Outlook and Trend Analysis
China held the largest share of the BRIC telemedicine market in 2016, due to increased household incomes and availability of sophisticated telemedicine products at affordable prices. Moreover, China is a lucrative market for suppliers in order to set up their manufacturing plants due to easy availability of cheap labor and favorable taxation policies. Brazil telemedicine market is expected to witness fastest growth during the forecast period as a result of rising healthcare expenditure and increased purchasing power of the people.
Some of the major players in BRIC telemedicine market are Medisoft Telemedicine Pvt. Ltd., Philips Healthcare, Haemonetics Corp., Apollo Hospitals, AMD Global Telemedicine Inc., Cloudvisit Telemedicine, Maestros Telemedicine, GE Healthcare, Reach Health, and SnapMD Telemedicine Technology.
The future growth for BRIC telemedine market lies in technological advancements in order to design and develop enhanced telemedicine solutions to the patients. With increasing penetration of internet and telecommunication networks in these countries, the market will witness favorable growth over the forecast period.
BRIC Telemedicine Market Segmentation
By Delivery Mode:
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?