Telemedicine Cart Market (By Product: Single Display Medical Cart, Dual Display Medical Cart; By Application: Clinic & Hospitals, Earthquake Relief, Field Medical Training, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026
The global telemedicine cart market is expected to reach the market value of around US$ 1,740 Mn by 2026 and is anticipated to grow at a CAGR of around 22% in terms of revenue during the forecasting period 2019 to 2026.
Telemedicine is an instrument that provides patients with remote diagnosis and treatment through telecommunications technology. Telemedicine carts are computer systems that allow patients to introduce telemedicine programs easily and cost-effectively. Such carts are designed to improve fully modern connectivity technology in the workflow of specialized health services. Continuous advances in healthcare technologies create a demand for swift and remote service, which in turn creates competition for carts for telemedicine.
The report provides analysis of global telemedicine cart market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Market Insights
Increasing costs for hospital treatment services is a major factor driving market demand. Manufacturer's strong focus on developing new telemedicine technologies which will spur the telemedicine cart market in the near future.
Despite the growing demand for telemedicine, there are some development hurdles that impede the growth of telemedicine carts industry, such as insurance and high equipment prices, which will further raise patient costs that are likely to discourage patients from pursuing remote services. In addition, high installation costs of telemedicine solutions can hinder the growth of the telemedicine carts industry.
The growth in the use of smartphones and tablets is ascribed in every corner of the earth to raise market demand. Increasing urgency for early diagnosis of the illness that has a permanent cure is helping the industry go a long way ahead. Acceptance of advanced technology and the introduction of various devices in support of the end-user lavishes the telemedicine market's growth rate. Increasing IT sector interest in developing various applications through telecommunications technology is designed to create market growth opportunities.
Regional Stance
North America is projected to be leading region in the regional telemedicine carts industry owing to advances in technology and increased government support to provide healthcare in rural areas. For example, in 2018 USDA reported US$ 39.6 Mn to increase access for rural communities to schooling, job training and health care services. Europe accounts for the second-largest share of revenue on the telemedicine carts market as a result of increased research and development and enhanced healthcare delivery systems. The Asia Pacific telemedicine carts market outside Japan is expected to grow at a substantial CAGR due to increased usage of telemedicine services and increased awareness in developing countries such as India to treat patients in the rural areas. Because of a shortage of resources and structural hurdles, Latin America and Middle East & Africa anticipated to show slow growth trend.
Report coverage
The market research study on “Telemedicine Cart Market (By Product: Single Display Medical Cart, Dual Display Medical Cart; Application: Clinic & Hospitals, Earthquake Relief, Field Medical Training, and Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed insights on the global telemedicine cart market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global telemedicine cart market, its product, application, and major geographic regions. The report covers global telemedicine cart market size, and segment markets by product, application, and geography along with the information on companies operating in the market. The telemedicine cart market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global telemedicine cart market is segmented as below:
Market Segmentation
Telemedicine Cart Market By Product
- Single Display Medical Cart
- Dual Display Medical Cart
Telemedicine Cart Market By Application
- Clinic & Hospitals
- Earthquake Relief
- Field Medical Training
- Others
Telemedicine Cart Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of MEA
Key Players and Market Situation
Top companies operating in the global market are AMD Global Technologies, American Well, Ergotron, Poly, Parsys, and others.
2019, The Polycom and Plantronics merged to form Poly. This will allow Plantronics access to audio capabilities from Polycom which will be built into their telemedicine solutions. But Poly extended its activities by combining the best of its technologies.
Frequently Asked Questions
What will be the market value of telemedicine cart in the forecast period?
The market value of telemedicine cart is anticipated to be around US$ 1,740 Mn in 2026.
What will be the growth rate of telemedicine cart market?
It is anticipated to grow around 22% CAGR amid the forecast period.
Which region held the maximum share of the telemedicine cart market?
North America held maximum share in 2018 led by the US.
Which region is projected to grow at a fastest rate during the forecast period?
Asia Pacific is projected to grow at a fast pace during forecast period.
What is the main driver of telemedicine cart market?
The growth of the telemedicine cart industry is driven by rising cost of the hospitals treatment.
Which factor curbs the growth of telemedicine cart market?
High installation costs of telemedicine solutions can hinder the growth of the telemedicine carts industry.
Which are the top companies operating in the global telemedicine cart market?
Top companies operating in the global telemedicine cart market are AMD Global Technologies, American Well, Ergotron, Poly, Parsys, and others.
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