This market research report presents a detailed segmentation of the global telecardiology market by technology (IT services, telecom, software, and hardware) and by geography (the Americas, APAC, and EMEA). The research report also outlines the market shares of key vendors, including BioTelemetry, Biotronik, McKesson, Philips Healthcare, and GE Healthcare.
Technavio’s market research analysts estimate the global telecardiology market to grow at a CAGR of over 17% between 2016 and 2020. The increase in spending on digital healthcare is the primary driver for the market. The spending on digital healthcare services is witnessing an upsurge due to an increase in the IT budget in hospitals and digital health devices. The growing popularity of teleconsultation services and the upsurge of cardiac informatics is expected to boost the market’s growth over the next four years. At present, the Americas dominate the global telecardiology market by accounting for over 61% of the overall market share. The increase in the adoption of teleconsultation services augmented by the perseverance of cardiovascular diseases (CVDs) is expected to propel the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the telecardiology segments by technology.
“The increasing adoption of cardiovascular information system (CVIS), a healthcare IT used to store cardiology related information, is the latest trend in the market. CVIS boosts cardiology operations and provides a platform to access cardiology related medical data. Of late, several hospitals are integrating cardiology data such as ECG, echogram data, hemodynamics data, and other laboratory test results with centralized electronic health records,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
In 2015, the IT services segment dominated the global telecradiology market by holding over 50% of the market share. IT consulting services align the IT department with strategic business goals for superior profitability and competitive advantage and enable the provision of education and training services to the staff of the telecardiology centers to enable smooth working with the technology for advanced patient care.
The key vendors in the global telecardiology market include BioTelemetry, Biotronik, McKesson, Philips Healthcare, and GE Healthcare. The market is highly competitive with vendors keeping pace with the rapidly evolving technologies and healthcare solutions. Vendors are consistently investing in research to develop next-generation healthcare IT systems. Also, several players are launching smart medical devices that can be used to install the ecosystem to open telecardiology centers. The increase in the subscription of IT services such as IT support services, network support services, system integration services, consulting services, education and training service, and managed services by telecardiology service providers is expected to propel the IT services segment by 2020.
A more detailed analysis is available in the Technavio report, Global Telecardiology Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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