The radical surge in demand for Virtual healthcare owing to the prevailing pandemic has brought the utilitarian aspects of telemedicine to the forefront. The good thing – it is gradually pervading the masses. The result, no more crowding in consultation rooms. The future of healthcare is to go ‘virtual’ driven by telemedicine. According to the estimates of Frost and Sullivan, telehealth is set to grow by 64.3% in the US this year owing to the prevailing pandemic.
For a healthcare organization to survive, it needs to shift to proper digital platforms convenient for the patients to use. Organizations already with strong digital teams are rising to the top as they could fast switchover to the newer market demands. Those facing tremendous financial losses and layoffs are gaining on their digital capacity.
Factors affecting telemedicine growth:
Quite a chunk of the population is capable of communicating their demands for speedier and highly responsive diagnostics and medical care owing to their enhanced financial potential, combining the latest telecommunication techniques with healthcare.
Other factors responsible for growth of the global telemedicine market are the enhanced need for safeguarding vital medical data, large number of adjuvant reimbursement schemes and affirmative government enterprise financial involvement.
Besides, the expansion of the global telemedicine market will also move in the direction of hitting one of the largest targets of the healthcare industry. People living in the countryside or even those dwelling in the faraway distant locations away from metros can comfortably access the healthcare facilities through the use of telecom services.
Telemedicine – Its limitations:
The report also alerts its consumers of a multitude of constraints related with the global telemedicine market, the most pronounced of which is the present dearth of skilled manpower to operate the devices in the market.
The absence of quality professional training for the use of telemedicine is compelling healthcare organizations to receive negative response at times. Another issue pestering the global telemedicine market is the want of credence that telemedicine can deliver to patients, regarding the appropriateness of medical service evaluation.
Telemedicine segmentation in specialized category:
The report also provides an in-depth exploration of the global telemedicine market in a segmented break-up. The market is segmented by specialty, service type and geography.
In terms of specialty, the global telemedicine market is segmented into gynecology, internal medicine, cardiology, emergency care, orthopedics, dermatology and others.
The market will reap harvest from the neurology segment, which is progressing at the fastest compound annual growth rate of 15.9 % in the market within the ambit of a stipulated forecast period.
Service segmentation in telemedicine:
In terms of service types, the global telemedicine market is split up into Tele surgery, Tele education, Tele training, Tele consultancy, Tele care and Tele monitoring that guided the global telemedicine market in 2013 where tele-monitoring is expected to be the fastest growing segment till 2020. This can be credited to the expanding senior citizen population size that is in greater need of healing-from-home type of healthcare.
Location-wise market segmentation:
The geographical segmentation of global telemedicine market reports North America to be topping the list in terms of Dollars earned in 2013. However, the fastest growth rate in the market over a fixed forecast period is accredited to Asia Pacific because of its thick population density and a fast developing healthcare set up.
The telemedicine market can be segmented into the following regions across the globe:
1. North America.
3. Asia Pacific.
4. Rest of the world.
Telemedicine – The future of healthcare:
Medicine and medical services are continuously changing profiles in the present century. Novel technologies and innovations are helping care providers bring back patients from the jaws of death. But as the mobile advancements are developing, manual care may become medical museum stuff.
Telemarketing is fundamentally attending, testing and curing patients over the phone.The basics haven’t changed but methods have undergone a massive transformation. Getting the entire thing done has turned much easier with a new kind of twist that the users would find pleasant. When you are in call, you answer the phone and treat a patient
Telemedicine has now come under the limelight. Doctors interact with patients via facetime and virtual reality or other types of Apps like virtual lab testing. There is always a time and cost element associated with our needs. There are cost efficient allergy kits at home STD tests which the consumers have never heard before. It establishes a link between the customer and the medicine providers. For patients, telemedicine is more affordable, easy, efficient and less time consuming.
Cybersecurity comes first
With the growing demand and opportunities come tougher challenges, and Telemedicine is one of the vulnerable points of data breach. As the recent data breach event of Babylon Health came to the forefront, digital professionals are devoting more attention to patient data protection and privacy. Different digital platforms aligned themselves swiftly to meet the sudden spike of demand but without proper oversight of cybersecurity. Organizations need to reinforce their digital platforms and teams with proper security measures so as to prevent greater data-breach disaster in future.
Tele health is now going to revolutionize how the physicians practice medicine and the organizations have shown interest so that they can have a competitive advantage in the future.
Interestingly, even Walgreens and Walmart are getting into the healthcare business. There is a huge demand from all quarters. Telemedicine and Tele marketing of healthcare services is the answer!