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A recent report published by Infinium Global Research on telemedicine market provides in-depth analysis of segments and sub-segments in the BRICS as well as regional telemedicine market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional telemedicine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of BRICS telemedicine market. According to the report, the BRICS telemedicine market is projected to grow at a CAGR of 25% over the forecast period of 2021-2027.
Telemedicine is a subset of telehealth market that is associated with remote clinical service delivery as well as the non-clinical part of the healthcare system. Telemedicine covers remote delivery of healthcare services including health assessment or consultation on telecommunication systems. Healthcare professionals are able to examine, diagnose, and treat patients at any given time, from a distant location without the need for an in-person visit. Telemedicine assists healthcare providers to offer services with the help of devices such as phones, computers, or others. Telemedicine provides a wide range of features including diagnosis of common infections, allergies, mental health problems, and routine follow-up visits for surgery or illness. In addition, telemedicine allows health data sharing over the mobile devices such as smartphones, wearables, and medical devices. Furthermore, this technology supports sharing of X-rays, ultrasound photos and images, and enhances access to the physicians. Moreover, Telemedicine is leveraged to make virtual visits and at the same time provide training, such as teaching how to use an inhaler.
The COVID-19 pandemic affected the telemedicine market fairly positively over a short period as well as longer period of time. A large part of the population was suffering from the COVID-19, and many people lost their lives. Health conditions other than COVID-19 were neglected, having a serious impact on the health of people. However, due to the restrictions from government, and concerns over the spread of COVID-19, people avoided going outside their homes. Telemedicine solutions facilitated people in addressing their health problems while staying inside their houses and avoiding going out. Moreover, the awareness regarding health and fitness among people increased during the pandemic. This, in turn, propelled the use of telemedicine solutions by the people during the period of the pandemic. Furthermore, many people that recovered from COVID-19 developed several other health issues such as sleep problems, rashes, and fatigue. The growing cases of post-COVID health problems among recovered patients augmented the market growth for telemedicine during the post-COVID era.
Rapid technological advancements, increasing demand for remote patient monitoring, rise in prevalence of chronic diseases, and growing geriatric population are considered to be the key driving factors for the growth of BRICS telemedicine market. Moreover, a large number of features offered by the telemedicine platforms are augmenting the use of telemedicine technology across BRICS. In addition, the continuous technological innovations and the adoption of digital medical devices are ensuring the growth in this market. Moreover, the rise in the number of smartphone users is expected to fuel the growth of this market over the forecast period. However, the high initial cost associated the technology, legal and reimbursement issues, and insufficient healthcare infrastructure are some of the impeding factors for the growth of the BRICS telemedicine market. Furthermore, the BRICS telemedicine market is likely to offer several opportunities for major players due to technological advancements in the telecommunication sector.
In terms of countries, China dominated the global telemedicine market followed by India. China is the leading country that drives the growth in the BRICS market. Telemedicine is extensively used across the remote locations in the country for ordering medical supplies or medical consultations. The growth of the telemedicine market in this country is majorly accredited to the growing adoption of telemedicine from hospitals and patients, ongoing reforms in telehealth policies, and improved reimbursement policies. India is expected to register the highest growth rate during the forecast period due to increasing healthcare infrastructure and on-going adoptions of medical devices.
The report on BRICS telemedicine market covers segments such as type, clinical service, technology, and mode of delivery. On the basis of type, the sub-markets include live video-conferencing, store-and-forward or asynchronous video, remote patient monitoring, and mobile health or mhealth. On the basis of clinical service, the sub-markets include teleradiology, telecardiology, teleconsultation, teledermatology, telesurgery, telepathology, and telepsychiatry. On the basis of technology, the sub-markets include software, hardware, and telecom. On the basis of mode of delivery, the sub-markets include cloud-based delivery, and on-premise delivery.
The report provides profiles of the companies in the market such as Labi Exames S.A., Saude Tecnologia Consultoria e Corretagem de Seguros SA, Yandex N.V., Doc+, SberHealth, Practo Technologies Private Limited, Tata Digital Health, Reliance Retail Limited (Netmeds), JD Health International Inc., and Alibaba Health Information Technology Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of telemedicine market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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