Telemedicine is an important development in the field of medicine and technology, where information technology is used to deliver healthcare services to rural and remote places. Telemedicine, which is a major success in developed countries of the U.S. and UK, is now gaining tremendous popularity in the developing countries such as Brazil, Russia, India, and China (BRIC).
Increase in the number of patients suffering from chronic diseases such as chronic obstructive pulmonary disease (COPD), chronic heart failure (CHF), asthma, hypertension, and diabetes and increase in IT spending are the key factors boosting demand for telemedicine in these countries. Moreover increasing demand for better healthcare services, cost effectiveness of telemedicine and growth in telecommunication network are also impacting the BRIC telemedicine market.
The BRIC telemedicine market was at $200.5 million in 2009; and is expected to grow exponentially at a CAGR of 15.8% from 2009 to 2014. The telemedicine technology market segment forms the largest submarket of the overall BRIC telemedicine market with an expected $307.4 million by 2014 at a CAGR of 16.6% from 2009 to 2014. The services segment in the overall BRIC telemedicine market will reach $111 million in 2014 with a CAGR of 13.8%.
The briefings on the BRIC telemedicine market (2009-2014) will benefit healthcare service providers such as hospitals, medical centers, software and hardware developers, information technology and telecommunication companies and medical device manufacturers. There is a huge growth opportunity in BRIC telemedicine market for IT providers and medical device manufacturers along with many other support services such as web based knowledge platforms.
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