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New Report Forecasts That Global Telemedicine Market Will Reach $13.9 Billion by 2012


London, UK -- (ReleaseWire) -- 06/11/2008 -- Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which forecasts that the global market for telemedicine will increase to over $13.9 billion by 2012, showing a compound average annual growth rate (CAGR) of 19%.

“Telemedicine: Opportunities for Medical and Electronic Providers”, which is available at finds that telemedicine is more than a buzzword in the healthcare industry today. Healthcare players are evaluating telemedicine technology as it is expected to be part of the mainstream as telemedicine reduces costs and improves clinical outcomes.

The telemedicine market is broken down into two segments- telehospital/clinic and telehome. Of these, says the report, the telehospital segment has the largest share of the market, worth an estimated $4.4 billion in 2007. Its value is expected to reach $8.8 billion by 2012,with a CAGR of 14.7%. The telehome market, which currently accounts for 22% of the market, is expected to capture almost 37% of the
telemedicine market by 2012 and be worth $5.1 billion, up from an estimated
$1.4 billion in 2007.

In addition, authors of the report say that the telemedicine market is also divided into technology and service segments. The telemedicine technology market consisting of hardware, software, telecom and network, is expected to grow from $2.2 billion in 2007 to $5,610 million in 2012, with a CAGR of 24.8%.

Analysts say that the telemedicine service market is expected to grow from $3.6 billion in 2007 to $8.3 billion in 2012, and will be mainly driven by the telehospital service market. The telehospital market will be the largest market for both the technology and service segments. The service market will grow from $3.6 billion in 2007 to $8.3 billion in 2012 at a CAGR of 18.3%.

“Telemedicine: Opportunities for Medical and Electronic Providers” is available from Report Buyer.

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