BRIC Telemedicine Market Witnessing Significant Rise on account of Increasing Patient Pool

According to a recent market study published by Transparency Market Research (TMR), the telemedicine market in BRIC countries is undergoing a significant rise on account of the increasing number of patients suffering from various chronic diseases such as chronic heart failure, chronic obstructive pulmonary disease, hypertension, asthma, and diabetes. The demand for better medical and healthcare services is expected to fuel the market to a significant extent. Development in the telecommunication network is another factor stimulating the growth of the global BRIC telemedicine market, which is poised to rise at a healthy CAGR of 15% during the period from 2012 to 2018.
Rising Demand for Better Medical and Healthcare Facilities to Drive Market
The rising demand for better medical and healthcare facilities in rural areas of BRIC nations is the key driver of the telemedicine market, as the dearth of skilled healthcare professionals has triggered the uptake of telemedicine in these nations. Establishment and rapid ongoing expansion of high-speed internet connectivity and the subsequent development of the telecommunication sector in these economies has aided the growth of the BRIC telemedicine market. Other than this, the cost of telemedicine is usually less than that of conventional medical treatments, which is also prompting an increased uptake of telemedicine.
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High Infrastructural Cost to Hamper Development of BRIC Telemedicine Market
Although the cost of telemedicine is mostly less than conventional methods of treatments, the infrastructural cost associated with providing telemedicine services is very high. Currently, the high infrastructural cost, coupled with the reluctance of patients and medical professionals regarding the adoption of the novel methods of telemedicine, is one of the major problems this market is facing. Apart from this, the market also faces a tough challenge from strict government rules pertaining to telemedicine.
Hardware and Connectivity and Network: Key Market Segments based on Technology
The BRIC telemedicine market is basically analyzed based on two fronts: The types of technologies and the applications of telemedicine. On the basis of technologies employed, the telemedicine market in BRIC nations can be classified into the hardware market and the connectivity and network market. Basic telemedicine platform, clinical devices, and communication hardware are the key components of the hardware market, the market for network and connectivity consists of PSTN, broadband, ISDN, EMR, EMR, COPE, and PACS.
Tele-consultation Application Leads Telemedicine Market in BRIC Nations
Based on the applications, the BRIC telemedicine market is classified into the markets for tele-radiology, tele-consultation, tele-surgery, tele-dermatology, tele-pathology, tele-ophthalmology, tele-cardiology, and home telehealth. Among these, the market for tele-consultation leads the telemedicine market in BRIC countries. Other segments are also registering significant growth in these nations. In India, tele-cardiology is reporting immense popularity, whereas tele-radiology is deriving significant demand from Brazil. The markets for tele-surgery, tele-dermatology, and home telehealth are in their initial stages in the BRIC countries.
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BRIC Telemedicine Market: Key Players
7 Medical Systems, Aethra S.P.A., Aerotel Medical Systems Ltd., AGFA Healthcare, AMD Telemedicine, Alcatel Lucent, Apollo Hospitals, Biotronik SE &Co., AT&T, Bharat Sanchar Nigam Ltd., CiscoSystem, China Medicine Online Ltd., Ericsson/Ericsson India Private Ltd., Golden Telecom, and ePeople are some of the major players in the telemedicine market in BRIC nations.

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