While at the early stage, the Telemedicine Market is on an interesting curve mainly in the emerging countries where awareness increases and where opportunities abound.
When it comes to the BRIC telemedicine market, one can observe that, owing to a number of
factors such as favorable government initiatives, the need for better
healthcare in rural areas, tremendous growth in telecommunication, rising
prevalence of chronic diseases in BRIC nations, and low cost of telemedicine, the
BRIC telemedicine market is expected to reach USD 1.20 Billion by 2020 from USD
498.7 Million in 2015, growing at a CAGR of 19.2% during the forecast period
(2015-2020), according to Research and Markets.
However, one can
also observe in its report that, high infrastructural costs and lack of
skilled resources may restrain the market growth.
For those who are unfamiliar, telemedicine market can be segmented by
component, application, delivery mode, and country. On the basis of component, the BRIC telemedicine market is divided
into services, software, and hardware. On
the basis of deployment mode, the BRIC telemedicine system market is
categorized into three segments, namely, on-premise, web-based, and
cloud-based.
On the basis of application, the BRIC telemedicine market is segmented into
teleconsultation, teleradiology, telecardiology, telepathology,
teledermatology, and other applications.
According to Research and Markets, China accounted for a share of more than half
of the BRIC telemedicine market in 2015; due to the huge awareness and
acceptance of telemedicine, rising incidences of chronic and lifestyle
diseases, and growing healthcare expenditure.
Brazil, on the other hand, is expected to grow at the highest CAGR over
the next five years. Growth in the Brazilian telemedicine market is mainly
driven by the increased purchasing power, emerging mindset towards wellness,
and rising healthcare expenditure.
Among Major players in the BRIC telemedicine market, we have: Apollo Hospitals (India), AMD Telemedicine
Technologies (U.S.), GE Healthcare (U.K.), Neosoft (China), and SnapMD (U.S.).