According to SPER market research, ‘Video Telemedicine Market– By Communication Technology (3G, 4G, Satellite Communication, ADSL, Broadband ISDN), By Application (Cardiology, Dermatology, Neurology & Psychiatry, Orthopedics, Oncology, Radiology, Pathology, Gynecology, Dentistry), By Deployment (Cloud- Based Video Conferencing, On- Premise Video Conferencing), By Component (Hardware, Software), End- Users (Hospitals, Clinics, Home Care Services),and By Region (North America, Europe, Asia Pacific, South America, and Middle East, & Africa)- Global forecast from 2020-2027’ state that the global video telemedicine market is fostering the market growth in the wake of growing medical expenses and developing chronic diseases. The global video telemedicine market has the potential to rise with a potential CAGR in the forecast period from 2020-2027. The emerging requirement for video telemedicine owes to the growth in chronic diseases that demand frequent advice and consultation from physicians. In addition, the growing treatment bills are fostering market requirements for global video telemedicine.
The effective growth in demand for healthcare services in remote and backward locations is one the leading causes for the increment in the video telemedicine market value. The effective growth in technological innovation such as mobile collaboration technologies will further generate lucrative growth opportunities for the video telemedicine market. Upsurge in the prevalence of white coat syndrome is another aspect propelling growth in the demand for video telemedicine. Growing geriatric and disabled populations and growing personal disposable income are some other indirect market growth determinants. The effective growth in the prevalence of chronic diseases will further foster growth in the market value.
With the increasing digital influx, individual physicians are progressively adopting video telemedicine practices. Since most patients are living in online and on-demand networks, it has become important for clinicians to practice video telemedicine. Similarly, insurance companies and government-administered healthcare programs are also assisting with telehealth services and technology solutions.
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In addition, the benefits of video telemedicine tools and software are being amalgamated with smart devices that aid to track pulse, temperature, and several other measurements of patients. The video telemedicine market is advancing at a speedy pace since growing number of businessmen and women are choosing for telehealth services. Companies are keeping in mind the relief and convenience of elderly patients, while revolutionizing in video call tools and software.
Telehealth services have stimulated a revolution in the remote healthcare segment. However, different individuals still prefer visiting doctors physically in order to be sure about their diagnosis. In addition, different individuals lack awareness about telehealth services, which functions as a roadblock to the growth of the video telemedicine market. Hence, major market players in the market should invest in advertising and marketing strategies to augment awareness about telehealth services among individuals.
North America registers the video telemedicine market due to the growing adoption of cloud-based technologies and presence of sophisticated healthcare infrastructure. Asia-Pacific on the other hand is predicted to undergo the highest growth rate throughout the forecast period due to the augmented focus on decreasing healthcare expenditure and favorable initiatives by the government.
Impact of COVID-19 on the Global Track and Trace Solutions Market
The Covid-19 pandemic has had both positive and negative impacts on the healthcare market. Increasing adoption of tracking solutions to curb counterfeit transactions of critical medical products is having a positive impact on market growth. There have been multiple cases of counterfeiting of essential medical devices during the Covid-19 pandemic.
Global Track and Trace Solutions Market Key Players:
The Global Track and Trace Solutions Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ACG Worldwide, Antares Vision S.p.A., Axway, Mettler-Toledo International Inc., Optel Vision Inc. Robert Bosch GmbH, Seidenader Maschinenbau GmbH (Körber AG), Siemens AG, Sys-Tech Solutions Inc. (Dover Corporation), TraceLink Inc., Uhlmann Group, Zebra Technologies Corporation
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Track and Trace Solutions Market Future outlook
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