Facts and Factors Market Research has published a new report titled “United Kingdom Telemedicine Market By Component (Software, Services, and Hardware), By Type (Real-time interactive mode, Communication via telephone, Store-and-forward mode, and Remote monitoring), By Application (Telemonitoring, Assisted Surgery, Education & Training, and Consultation), By End–Users (Providers, Home Care, Payers, and Physicians), and By Specialty Areas (Neurology, Orthopedics, Gynecology, Radiology, Pathology, Psychology, Dermatology, and Emergency Care): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the demand for the United Kingdom Telemedicine Market is predicted to be valued at approximately USD 481 million in 2018 and is expected to reach a value of around USD 1,241 million by 2027, at a CAGR of around 10.04 % between 2019 and 2027.
Telemedicine is the practice of patient care from remote locations when healthcare service providers and the patient cannot interact with one another face to face. In short, telemedicine is the offering of healthcare solutions like health assessments through telecommunications infrastructure from distant places.
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Furthermore, telemedicine assists healthcare providers to assess, diagnose, and treat patients through the use of common technologies like video conferencing and smartphones. Telemedicine is the utilization of electronic data to communicate technologies for offering and supporting healthcare services when the participants are at remote destinations.
Telemedicine is sub-segregated into three main categories: store-and-forward, remote patient monitoring, and interactive telemedicine.
Rise in the remote patient monitoring activities to drive the market trends
The growing necessity of monitoring the patients and treating them for chronic ailments from remote places will drive the growth of the telemedicine market in the United Kingdom. In addition to this, a remote patient monitoring system also includes a spectrum of new technologies developed for effectively handling, assessing, notifying, intervening, and changing the plans of patient treatment as per the need. These systems help in minimizing the growth of chronic diseases and quick recovery after receiving a discharge from hospitals. All these aforementioned aspects are likely to steer the growth of the UK market during the forecast timeline.
Furthermore, technological breakthroughs and massive demand for digital health tools are the major aspects driving the expansion of the telemedicine industry across the United Kingdom. Among the digital health tools, m-health, EMR, and Telehealth are the most prominently utilized ones by healthcare firms. These help in remotely monitoring of the patients along with increasing access to electronic health information and improvement in electronic health data access. All of these aspects are likely to encourage market growth trends in the UK.
Apparently, digital health tools aid healthcare operations including chronic disease management, population health management, and clinical decision support systems. This will augment the market scope in the United Kingdom. In addition to this, the burgeoning population of smartphone & tablet users in the United Kingdom will steer the industry progress during the period from 2019 to 2027. Nevertheless, strict legislation and restricted compensation can impede the expansion of the industry in the UK over the forecast timespan. Moreover, growing security concerns in the telehealth systems can pose a challenge towards the market expansion during the forecast timeline.
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Services to dominate the component segment over the forecast timeline
The growth of the segment during the forecast timeline is due to rapidly expanding telecommunication infrastructure coupled with a rise in the usage of mobile phones & the web. Furthermore, the introduction of new technologies has resulted in enhanced utilization of telemedicine for treating chronic ailments, thereby leading to massive segmental growth.
Remote Monitoring type segment to contribute massively towards the overall market growth
The segmental growth over forecast timeframe is attributed to the massive usage of remote patient monitoring technologies in minimizing the growth of the chronic ailments and facilitation of quick patient recovery after release from hospitals or clinics. Apart from this, an increase in the geriatric population susceptible to the high occurrence of chronic ailments in the UK will proliferate the segmental expansion.
England to dominate the regional market expansion during the forecast timeline
The growth of the telemedicine industry in England during the forecast timeline is credited to high demand for telemedicine services due to the growing incidence of Parkinson & Alzheimer’s diseases and disorders like autism & epilepsy.
Some of the key players in the market include Babylon, Doctor Care Anywhere, Immedicare, Telemedicine Clinic, Push Dr, HomeTouch Care Ltd., and Now Healthcare Group.
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This report segments the United Kingdom Telemedicine market as follows:
United Kingdom Telemedicine Market: By Component Segment Analysis
United Kingdom Telemedicine Market: By Type Segment Analysis
- Real-time interactive mode
- Communication via telephone
- Store-and-forward mode
- Remote monitoring
United Kingdom Telemedicine Market: By Application Segment Analysis
- Assisted Surgery
- Education & Training
United Kingdom Telemedicine Market: By Specialty Areas Segment Analysis
- Emergency Care
United Kingdom Telemedicine Market: By End–Users Segment Analysis
- Home Care
United Kingdom Telemedicine Market: By Country-wise Segment Analysis
- Northern Ireland
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