Dive Brief:
- With a shortage of doctors in rural areas and steadily improving telecommunications capabilities, the market for telemedicine should grow rapidly in coming years, according to new research.
- The global telemedicine market should grow from $14.2 billion in 2002 at a compound annual growth rate of 18.5% through 2018, according to a new report from Research and Markets.
- The growth in the deployment of telemedicine services is taking place due to the high prevalence of chronic diseases, consistent need for improved quality services, and rising elderly populations across countries which demand telemedicine to improve service, according to Research and Markets.
Dive Insight:
Telemedical services have been poised for growth for many years, but without reimbursement from payers to deliver those services, uptake has been comparatively slow. However, slowly but surely, factors are falling into place -- including payer reimbursement -- which should greatly expand the use of telemedicine very clinical settings. Telemedicine may finally be coming into its own.