News Column

Frost & Sullivan: Can Video Telemedicine Improve Care Access in Europe?; In a market expected to nearly triple by 2020, the active involvement of vendors is crucial to enable workflow integration and reduce adoption barriers

July 8, 2014



LONDON - The video telemedicine market in Europe is poised for rapid growth, with the 2013 market penetration rate of 30 percent expected to rocket up to 50 percent by 2020. Technology advances and the need to provide healthcare access to a geographically fragmented region are factors driving the market. The decreasing prices of low-tier end points such as smart phones and tablets, as well as the higher availability of cloud based telemedicine solutions, will further contribute to market revenues.

New analysis from Frost & Sullivan, Analysis of the Video Telemedicine Market in Europe, finds that the market earned revenues of $151.2 million in 2013 and estimates this to reach $414.4 million in 2020. The key segments covered in this study include end points, carts, infrastructure and services.

The management of age-related chronic diseases in Europe currently accounts for 70 percent of total healthcare costs. The increased use of home healthcare, remote patient monitoring, and assisted living services to alleviate this cost burden and improve the quality of care will promote the adoption of video telemedicine.

Healthcare professionals are also turning to telemedicine to reduce the number of hospital readmissions, said Frost & Sullivan Healthcare Research Analyst Shruthi Parakkal. Similarly, video telemedicine can find opportunities in population health management to facilitate access to healthcare in large geographies in the region.

However, non-inclusion of telemedicine services in reimbursement policies and ambiguity regarding physician pay schedules remain barriers to the large-scale use of telemedicine. Various regions in Europe are at different levels of maturity with respect to reimbursement policies. While reimbursement for cross-border healthcare is defined, patients are only entitled to reimbursement for which they are eligible under the member state of affiliation.

Market revenues will recover once a revamp of reimbursement policies for the inclusion of telemedicine services and physician pay schedules takes place. Legislation in this regard is expected in France and Belgium in 2014. Other countries in Europe are likely to follow suit, thereby lending momentum to technology development in the region.

Interoperability and standardisation issues among various devices and technologies used for telemedicine services have also been a challenge, noted Parakkal. The active involvement of vendors will be crucial to make interoperability a market standard and fuel growth in this dynamic landscape.

If you are interested in more information on this study, please send an e-mail to Anna Zanchi, Corporate Communications, at anna.zanchi@frost.com Analysis of the Video Telemedicine Market in Europe is part of the Connected Health Growth Partnership Service program. Frost & Sullivans related studies include: Pulse of Telehealth 2013 North America, Analysis of the Video Telemedicine Market North America, Global Assessment of Telecommunications Service Providers in Healthcare, and Analysis of the Global Enterprise Content Management (ECM) Market for Healthcare. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact us: Start the discussion Contact Anna Zanchi Corporate Communications Europe P: +39.02.4851 6133+39.02.4851 6133 E: anna.zanchi@frost.com To unsubscribe, please contact anna.zanchi@frost.comCallSend SMSAdd to SkypeYou'll need Skype CreditFree via Skype

.


For more stories covering the world of technology, please see HispanicBusiness' Tech Channel



Source: M2 PressWIRE


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters