BCC Research reveals in its new report, GLOBAL MARKETS FOR TELEMEDICINE TECHNOLOGIES, the global telehospital/clinic and telehome market is expected to grow to $43.4 billion by 2019, with a five-year compound annual growth rate of 17.7 percent.  The telehome category, the dominant market segment, is surging at a tremendous 24 percent CAGR.

There has been a global focus on the use of telemedicine as a tool to cut healthcare costs and bring about significant savings. Implementation of the new U.S. healthcare law has intensified this focus by increasing the number of people with health insurance and seeking medical services.

The telehospital/clinic market category, which comprises services that are provided within or between hospitals, clinics or other healthcare providers, is expected to reach $19.5 billion in 2019 and register a CAGR of 12 percent.

However, the telehome category, the largest and fastest growing segment of the market, is forecast to jump from just $6.5 billion in 2013 to nearly $24 billion in 2019. Consequently, this segment, which provides teleservices to the outpatient, is expected to increase its share of the market from 40 percent in 2013 to 55 percent by 2019.

"In the near to midterm, telemedicine technologies offer one of the few ways of enabling healthcare personnel to meet the increased demand for healthcare services without unacceptable delays or service rationing," said BCC Research healthcare analyst Andrew McWilliams. "The growing adoption of telemedicine services is expected to significantly impact larger markets such as healthcare, health insurance, home care, telecommunications (telecom), networking, disease management, e-health and healthcare IT."

Global Markets for Telemedicine Technologies provides an overview of the global telehospital/clinic and telehome technologies. It includes analyses of global market trends, with data from 2012 and 2013, estimates for 2014, and projections of CAGRs through 2019.