Technology is one of the most rapid and progressing sectors all over the world, in each and every country, irrespective of the status of development in each and every country around the world. The only thing that remains constant in the world of technology is the fact that technology is constantly evolving and nothing at all can stop whatever is going on within this process whether it’s for the good or bad. And the biggest effect of technology can be felt in the medical industry. Gone are the days when the physical presence of the doctor was required at the patient’s place or the presence of the patient required at the doctor’s. Technology has bridged the gap of physical presence and has brought in something known as video telemedicine that help doctors treat their patients with the help of technological tools and the internet. Doctors can now treat their patients who might be located in remote locations over a video call or some other similar technology that has been developed and at the same time is undergoing rapid transformation, every second of every day.
Market for Video Telemedicine:
The market for telemedicine is extremely large especially because of the growing concerns regarding doctors handling patients in much more larger numbers than what they are supposed to handle. Telemedicine has improved the way in which the patients are monitored and treated accordingly. In the year 2015 the markets for telemedicine crossed an amount that was equivalent to USD 23224 million. The market is growing at an extremely rapid pace and is expected to gain extreme market revenue by the end of the year 2025. The industry will also enjoy one of the greatest compound annualgrowth rates ever that is expected to be quite substantial. The market is the largest in North America and then followed by the European and the Asia Pacific market. However, the largest constraint in the market for telemedicine is that lack of infrastructure facilities in many developing countries. However, the market has a great deal of opportunity for expanding and it can improve the facilities all over the country and the globe as a whole. Video telemedicine has been a great boon to the entire population as a whole and continues to be one of the most innovative and advanced technology that the markets of developing countries have ever witnessed.
Video Telemedicine is the biggest boon that the medical fraternity has ever given to the entire global society without separating them on the basis of their nationality, caste, creed, gender or religion. And the entire society is extremely grateful for their contribution.