Emergency Telemedicine Services Market
Number of pages: 100 | Report Format: PDF | Published date: April 26, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
CAGR |
19.5% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, Application, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global Emergency Telemedicine Services is expected to grow at a revenue CAGR of 19.5% from 2023 to 2031.
Emergency Telemedicine Services Market Fundamentals
Emergency telemedicine service is an emerging service model used to provide services to physicians and healthcare suppliers. Telemedicine services are also called telehealth or e-health. Earlier, telemedicine was adopted to provide services in civil wars and military situations to deal with medical consultation and ordering medical supplies. The employment of communication and information technology in telemedicine allows for removing the distance barrier and enhancing end-user medical transcription services. These services allow healthcare providers to diagnose, evaluate and treat patients without an in-person visit. The availability and affordability of telemedicine services due to information technology and its exponential growth are changing the market environment more quickly than before. Some hospitals have set up virtual emergency departments that allow patients to receive medical attention remotely. Patients can connect with an emergency physician through video conferencing and receive advice and treatment recommendations. Emergency medical dispatchers can use telemedicine tools to provide medical advice and support to callers during emergencies. For example, a dispatcher could use video conferencing to guide someone through performing CPR or other emergency procedures.
Emergency Telemedicine Services Market Dynamics
The global emergency telemedicine services market has experienced significant growth in recent years due to several factors. The demand for telemedicine services has increased significantly in recent years due to the growing need for remote healthcare services. Emergency telemedicine services have become increasingly popular due to the ability to provide immediate care and access to medical professionals from remote locations. Advancements in technology have enabled healthcare providers to deliver emergency telemedicine services more efficiently and effectively. The availability of high-speed internet, mobile devices, and video conferencing technology has made it easier for healthcare providers to communicate with patients and provide remote medical care. Many countries are facing a shortage of healthcare professionals, especially in rural areas. Emergency telemedicine services have helped bridge this gap by providing patients with access to medical professionals remotely, without traveling long distances. Emergency telemedicine services can be cost-effective for both patients and healthcare providers. Patients can avoid costly emergency room visits by receiving medical care remotely, while healthcare providers can save on overhead costs associated with maintaining a physical facility. The COVID-19 pandemic has further accelerated the adoption of telemedicine services, including emergency telemedicine. As social distancing measures were implemented, many healthcare providers had to switch to remote medical care to ensure the safety of patients and healthcare professionals. This shift has highlighted the benefits of telemedicine services, leading to further growth in the emergency telemedicine services market.
Several potential restraints could impact the growth of the global emergency telemedicine services market. Emergency telemedicine services require a strong and reliable internet connection. However, connectivity may be limited or unavailable in remote or rural areas. This can limit the availability of emergency telemedicine services in these areas.
Emergency Telemedicine Services Market Ecosystem
The global emergency telemedicine services market is analyzed from the following perspectives: type, application, end user, and region.
Emergency Telemedicine Services Market by Type
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Based on the type, the global emergency telemedicine services market is segmented into telemonitoring, teleconsultation, tele-education, tele-training, telecare, and others.
The teleconsultation segment accounts for the largest revenue share in the global emergency telemedicine market. Teleconsultation is a cross between virtual consulting through the Internet and telephone consultation. In this interactive communication, a patient can communicate with the healthcare specialist through a video conference, a phone call, or a computer. Any healthcare practitioner, including doctors, nurses, and other healthcare support personnel, including chemists and nutritionists, may perform the service.
The telesurgery segment is projected to record a high revenue CAGR in the global market. Hospitals and healthcare providers are investing in telesurgery technology to expand their services and provide patients with safe and effective treatment options. The use of robotic technology in telesurgery has been increasing rapidly in recent years. Robotics allows surgeons to perform procedures with greater precision, flexibility, and control, resulting in better patient outcomes. Advanced imaging techniques such as 3D imaging, virtual reality, and augmented reality are becoming increasingly popular in telesurgery. This gives surgeons a more accurate and detailed view of the surgical site, making procedures safer and more efficient.
Emergency Telemedicine Services Market by Application
Based on the application, the global emergency telemedicine services market is segmented into cardiology, orthopedics, neurology, gynecology, emergency care, and others.
The cardiology segment accounts for the largest revenue share in the global emergency telemedicine services market. This is a result of the increased attention being paid to the effective management of arrhythmias and the prompt identification of heart failure signs. There is a greater need for accessible telemedicine services as the prevalence of heart diseases rises. The increased use of pacemakers, defibrillators, wearable sensors, and data processing units is also a result of the growing demand for remote monitoring of patients with implantable cardiac devices.
Emergency Telemedicine Services Market by End User
Based on the end user, the global emergency telemedicine services market is segmented into hospitals, ambulatory surgical centers, and homecare settings.
The ambulatory surgical centers account for the largest revenue share in the global emergency telemedicine services market. This is because they can deliver care more quickly than in other settings. However, during the past few years, growth in clinics and surgical centers has been fueled by rising demand for urgent medical care outside hospitals.
The homecare settings segment is projected to record a high revenue CAGR in the global emergency telemedicine market. Over the next few years, growth is anticipated to be driven by the rising need for remote monitoring of patients with chronic illnesses like cancer at home instead of having them attend the hospital daily.
Emergency Telemedicine Services Market by Region
The global emergency telemedicine services market has been geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the global emergency telemedicine services market. The COVID-19 pandemic has accelerated the adoption of telemedicine services across North America, including emergency telemedicine services. This has been driven by the need to provide remote care to patients who are unable or unwilling to visit healthcare facilities in person due to concerns about the spread of the virus. Some of the key players in the North American emergency telemedicine services market include Teladoc Health, Inc., American Well Corporation, MDLIVE Inc., and Doctor On Demand, Inc. These companies offer a range of telemedicine services, including virtual consultations with physicians, remote monitoring of patients’ vital signs, and real-time video consultations with emergency medical professionals. In the United States, several companies and organizations offer emergency telemedicine services, including Teladoc Health, American Well, MDLive, and Doctor On Demand. These companies typically provide 24/7 access to licensed healthcare providers who can assess and treat patients via video conferencing. In Canada, several provinces have implemented telemedicine programs to provide emergency services to remote and underserved communities. For example, the Ontario Telemedicine Network offers various telemedicine services, including emergency consultations with specialists. At the same time, the Yukon Telehealth Program provided emergency telemedicine services to patients in the Yukon Territory.
Europe accounts for the second-largest revenue share in the global emergency telemedicine market. Europe's emergency telemedicine service market is growing rapidly as more healthcare providers seek ways to deliver care remotely. This growth can be attributed to factors such as an increase in the aging population, the rising incidence of chronic diseases, and the need for more efficient and cost-effective healthcare services. Several European countries, such as the United Kingdom, Germany, and France, have also launched national telemedicine initiatives to support emergency healthcare services. For example, the UK's National Health Service (NHS) has established a national telemedicine network connecting healthcare providers with remote communities. At the same time, the German government introduced a digital health law that allows doctors to prescribe digital health applications, including telemedicine services.
In recent years, the Asia Pacific region has seen significant growth in the global emergency telemedicine services market. The region’s growing population and the demand for healthcare services are increasing. Emergency telemedicine services provide a cost-effective and efficient way to deliver healthcare services to remote or underserved areas. Many countries in the Asia Pacific region are investing in healthcare infrastructure, including telecommunication and information technologies. This is making it easier to deliver emergency telemedicine services. Many government bodies in the Asia Pacific region are implementing initiatives to promote the use of telemedicine. For example, the Indian government has launched the National Telemedicine Service, which aims to provide telemedicine services to rural and remote areas. Advances in telecommunication and information technologies are made to deliver emergency telemedicine services easier and more cost-effectively. This includes the development of mobile apps, remote monitoring devices, and teleconsultation platforms.
Some key players in the emergency telemedicine services market in Asia Pacific include Philips Healthcare, GE Healthcare, Cerner Corporation, Medtronic, and Honeywell Life Care Solutions. These companies are investing in research and development to develop new and innovative telemedicine solutions for emergencies.
Emergency Telemedicine Services Market Competitive Landscape
The prominent players operating in the global emergency telemedicine services market are: -
Emergency telemedicine services Market Strategic Developments
The revenue CAGR for the emergency telemedicine services market is 19.5% during the forecast period.
Medtronic Plc, Aerotel Medical Systems Ltd., McKesson Corporation, AMD Global Telemedicine Inc., and Honeywell International Inc. are some of the major key players in the emergency telemedicine services market.
The Asia Pacific region is projected to grow at high revenue CAGR in the global emergency telemedicine services market.
Many healthcare insurance providers do not yet cover emergency telemedicine services or may only cover a limited range of services. This can limit the financial viability of emergency telemedicine providers and may also limit patient access to these services.
*Insights on financial performance are subject to the availability of information in the public domain