India and China Represent Very Profitable New Telemedicine Market
Telemedicine, the ability to remain at home while being monitored for chronic illnesses like cardiovascular disease and diabetes, is allowing more and more people to be active, and out of the hospital, despite their serious illnesses.
Even Asia is getting in on the market.But the place to be for telemedicine product and solution marketers is India and China, according to a new research report by RNCOS.
The report states that telecommunications networks and technologies are skyrocketing in these economies, “where the demographic profiles are large, and non-uniform healthcare facilities are available,” according to a company press release.
Jamie Yap at ZDNet agrees that the use of this technology in these countries has been disappointing. Some point to a lack of awareness of the benefits of telemedicine, he reports, but others to the lack of infrastructure.
RCNOS’ report, “Global Telemedicine Market Analysis,” found that, on the other hand, teleconsultation, telepathology, telecardiology, telesurgery, teleradiology, teledermatology and teleophthalmology applications are moving forward.
Faced with aging populations – in China by 2050, it’s estimated there will be more than half a billion people between 60 and 80, while in India, that age group is expected to reach 22 percent of the population– marketers are jumping into the fray. The report predicts that the global telemedicine market “will grow at a compound annual rate of around 19 percent during 2010-2015.”
India represents a huge market as its population of one billion people is growing at a rate of 1.6 percent per year, with the healthcare market expected to reach over $75 billion in 2012.
The research report studies real-time telemedicine, remote monitoring and store-and-forward telemedicine, and presents forecasts for the global telemedicine market, according to the press release. The report also covers an overview of the emerging clinical applications in telemedicine. Detailed geographical analysis and recent industry developments have been included in the report that will help clients understand the market dynamics.
Telemedicine has been particularly popular in the U.S. because it allows people to “age in place.” Where once they would have been hospitalized, more people are being allowed to go home and even resume normal activity; all while being monitored remotely by their doctors.