FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Mar 4, 2015
-- The US Telemedicine Market Outlook to 2018 - Rising Penetration of Telehome Care and mHealth” provides a comprehensive analysis of the various aspects such as the market size of the US telemedicine, Telehome, Telehospital, telemedicine technology (hardware and software) and services, mhealth, real-time telehealth, store and forward system and hybrid telehealth market along with the future outlook of the industry. The report also covers the competitive landscape of the major players the US telemedicine hardware and software market.
The cost of healthcare is one of the critical issues in the US. In order to overcome the overbearing, number of casualties and health related incidents together with lagging number of healthcare specialists has provided an opportunity to the public as well as the private players to develop and implement telemedicine networks for hospitals and in-home care. The growing healthcare expenditures along with the increasing scarcity of healthcare specialists in the country have provided strong driving force to the telemedicine market in the US. In 2013, the market for telemedicine generated annual revenue of worth USD ~ million at a massive growth of ~% from USD ~ million in 2012.
The telemedicine market has enabled the US citizens to minimize their healthcare expenditures, as a result of falling number of in-home doctors’ visits and patient’s re-admissions in the hospitals. Even though, the per capita healthcare cost in the US is the largest in the world, the number of un-insured population encompasses a considerable proportion in the overall US population. Furthermore, the country has been experiencing the increasing prices of healthcare procedures across various hospitals and clinics in the last few years, which in turn has fuelled the demand of telemedicine market in the US.
"The telemedicine industry is highly competitive with nearly 80-100 telemedicine software and service vendors operating in the US market in 2013, in which nearly 45% of the companies have employee strength of less than 40 employees"
There are a number of keys challenges which could be faced by the telemedicine industry. Reimbursement and software licensing approval are the major challenges posed by this industry, which could block physicians’ participation in the telemedicine marketplace. In the upcoming years, government authorities are expected to minimize these challenges in the telemedicine market by taking a number of steps such as Medicare and Medicaid restrictions, originating telemedicine site requirements, inconsistent reimbursement and physician licensure.
The telemedicine market in the US is projected to register revenues of USD ~ million by 2018, growing at significant CAGR of ~% from 2013-2018. The contribution of telehospital segment is likely to decrease in the overall telemedicine market, which will be replaced by telemedicine in-home care solutions in the coming years. The increasing health awareness, inclining disposable incomes, improving healthcare infrastructure and introduction of new technologies are some of the noteworthy factors expected to influence the market growth in the next five years.
Key Topics Covered in the Report:
The market size of the global telemedicine market, the US telemedicine market, the US remote patient monitoring market, global mHealth market and the US mHealth market.
Market segmentation of global telemedicine market on the basis of telehome and telehospital segments, market segmentation of the US telemedicine market by telehome and telehospital market, by synchronous and asynchronous methods, by telemedicine applications in various diseases and disorders, by telemedicine technology and services.
Market segmentation of the US mHealth market by end user (doctors and patients), by hardware software and services.
Trends and Developments in the US telemedicine market
Competitive landscape profiles of the major players of the US telemedicine market and company details of various telemedicine vendors in the US.
Future outlook and projections of the US telemedicine market.