Publication Month: Jul 2021 | Report Code: TIPHC00002288 | No. of Pages: 274 | Category: Healthcare IT | Status: Published
Healthcare satellite connectivity allows for remote medical diagnosis and care in the comfort of one's own home. It enables digital imaging, remote patient monitoring, e-learning and consultation, and access to life sessions to improve the knowledge of medical professionals located at a distance.
The growth of the healthcare satellite connectivity market is attributed to factors such as government initiatives for promotion and development of satellite connectivity-based solutions in healthcare and rising adoption of e-Health. However, concerns regarding data privacy hinder the market growth.
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Healthcare systems are experiencing growth in consumer engagement worldwide. In developing countries, the systems are becoming technologically friendly. These are experiencing an internationalization of care as established brands—such as the US-based Cleveland Clinic—expanded their businesses in the UAE, and start-ups—such as England-based Babylon, a primary care diagnostic app powered by machine learning and AI—entered into China and Rwanda markets. Moreover, with increasing investments in the Asia Pacific healthcare sector, IT start-ups offer lucrative opportunities for its growth. For instance, in December 2020, DXY (a Chinese healthcare portal company) raised US$ 500 million in a Series E round led by Trustbridge Partners. Alodokter, an Indonesian health tech platform, raised US$ 33 million Series C funding. The growing healthcare IT industry in Asia Pacific is anticipated to provide lucrative opportunities for players to expand their capabilities across the region. Also, COVID-19 pandemic has accelerated the use of digital health technologies globally. The pandemic prioritized remote monitoring solutions. Governments in the area are promoting the use of telemedicine. For instance, in March 2020, the Indian government issued the Telemedicine Practice Guidelines to enable registered medical practitioners to provide healthcare services using telecommunication and digital technologies. Such initiatives would offer lucrative opportunities for the growth of the patient portal market in the coming years.
The healthcare satellite connectivity market, based on component, is segmented into medical device, system and software, and service. In 2021, the system and software segment held the largest share of the market. The same segment is expected to register the highest CAGR during 2021 to 2028.
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By application, the healthcare satellite connectivity market is bifurcated into e-Health and others. In 2021, the e-Health segment held a larger share of the market. However, the others segment is expected to register a higher CAGR in the market in the coming years
Based on connectivity, the healthcare satellite connectivity market is bifurcated into mobile satellite services and fixed satellite services. In 2021, the fixed satellite services segment held a larger share of the market. On the other side, the mobile satellite services segment is expected to register a higher CAGR in the market during the forecast period.
Based on end user, the healthcare satellite connectivity market is segmented into clinical research organizations, hospitals and clinics, research and diagnostic laboratories, and others. In 2021, the hospitals and clinics segment held the largest share of the market. However, the clinical research organizations segment is expected to register the highest CAGR in the market in the coming years.
|Market Size Value in||US$ 6,797.22 Million in 2021|
|Market Size Value by||US$ 10,105.21 Million by 2028|
|Growth rate||CAGR of 5.8% from 2021-2028|
|No. of Pages||274|
|No. of Tables||219|
|No. of Charts & Figures||88|
|Historical data available||Yes|
|Segments covered||Component , Application , Connectivity , and End Users and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the healthcare satellite connectivity market players focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name globally.
The List of Companies - Healthcare Satellite Connectivity Market