Global Telecardiology Market 2016-2020

Global telecardiology market overview

Technavio’s market research analyst predicts the global telecardiology market to grow at a CAGR of more than 17% by 2020. Factors such as a rise in investments in cardiology informatics, connected devices, and mobile solution for advanced cardiac care are driving the growth of the telecardiology market size. The increase in ICT spending in the telecardiology sector has led to increased installations of advanced networking solutions to speed up the transfer rate of medical data. In addition, the market for cardiology teleconsultation service will also witness high growth in the coming years owing to rapid improvements in the primary and secondary healthcare and the increasing acceptance of telecardiology technology among cardiologists and patients.

One of the latest telecardiology industry trends is the increased adoption of cardiovascular information system (CVIS). CVIS is a healthcare IT solution used to store cardiology related information. It increases cardiology operations and provides a centralized platform to access cardiology related medical data. Hospitals are integrating cardiology data, such as ECG, echogram data, hemodynamics data, and other laboratory test results, with centralized electronic health records so that the patient's medical information can be shared with other departments for the effective treatment of cancer and CVD simultaneously. CVIS systems support hospitals in the execution of telecardiology programs by enabling remote access to the patient data.

Segmentation by technology and the telecardiology market analysis

• IT services
• Telecom
• Software
• Hardware

The IT services dominated the telecardiology market in 2015 and accounted for more than 50% of the overall market share. IT services help telecardiology centers deliver services over the Internet. System integration services help IT departments of the hospitals to integrate healthcare information system with enterprise system. Increasing demand for managed and consulting services in the telecardiology centers and hospitals will augment this segment’s growth in the coming years.

 Geographical segmentation and the telecardiology market analysis

• Americas
• APAC
• EMEA

During 2015, the Americas was the leading region in the telecardiology market and occupied around 61% of the total market. Much of this region’s growth can be attributed to the rising number of CVDs and diabetes. With the help of teleconsultation services, the healthcare professionals share real-time images of heart tests, thus, enabling key decision-making process in CVD treatments. Rising investments in telecardiology services like video conferencing technology, connected cardiology devices, and wearable technologies are expected to boost the market’s growth in this region.

Competitive landscape and key vendors

The market is highly competitive with vendors keeping pace with the rapidly evolving technologies and healthcare solutions. The telecardiology companies 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.

Key vendors in the market include -

• BioTelemetry
• Biotronik
• McKesson
• Philips Healthcare
• GE Healthcare

Other prominent vendors in the telecardiology market are Aerotel Medical Systems, Agfa-Gevaert, Allscripts Healthcare Solutions, AMD Global Telemedicine, American Well, Cerner, Cisco Systems, CompuMed, F. Hoffmann-La Roche, Healthspot, Honeywell HomMed, Honeywell Life Care Solutions, Huawei Technologies, InTouch Technologies, LifeWatch, Meddiff Technologies, Medtronic, Polycom, Siemens Healthcare, Telemed Solutions, and Vidyo.

Key questions answered in the report include

• What will the telecardiology market size and the growth rate be in 2020?
• What are the key factors driving the global telecardiology market?
• What are the key market trends impacting the growth of the global telecardiology market?
• What are the challenges to the telecardiology market growth?
• Who are the key vendors in the global telecardiology market?
• What are the market opportunities and threats faced by the vendors in the global telecardiology market?
• Trending factors influencing the telecardiology market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global telecardiology market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Telemedicine Market 2015-2019
• Global Connected Health M2M Market 2015-2019
• Global Telehealth Market 2015-2019
• Connected Health M2M Market in the US 2015-2019

Telecardiology is a modern medical practice that utilizes the power of telecommunications to achieve remote diagnosis and treatment of heart diseases. Benefits like better clinical outcomes, convenience, and reduced cost will lead to its increased adoption among end users in the healthcare sector. Cerner, GE, McKesson, and IBM will be the prominent players in this market space.

The report, global telecardiology market, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.