Australia Telemedicine Market Analysis

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  • Report ID : 4053

  • Region: APAC
  • Country: Australia
  • Type: Service area

Australian Telemedicine Market: Segmented by Application (Tele-Cardiology, Tele-Radiology, Tele-Pathology, Tele-Dermatology, Tele-Neurology, Tele-Homecare, Emergency Care, & Others) and by Product (Software, Hardware, & Others) – Growth, Trends, and Forecasts (2019 – 2028)

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Report Overview

The Australian Telemedicine market size was valued at USD xx billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of xx% from 2019 to 2028.

Australia’s vast distances, rugged terrain, and highly urbanized population mean many rural and regional communities are a long way from centralized health resources and specialist hospitals. Telemedicine overcomes the barrier of distance by providing clinical medical care through information technology and telecommunications. It makes health services more accessible, especially in remote rural areas where medical care is not always available, mainly because of its location. Telemedicine allows effective communication between medical personnel and patients and facilitates the transmission of critical health and medical information. It plays a vital role in saving lives, especially in emergencies and critical situations. Due to its fundamental application in the health system, the Australian telemedicine market is expected to grow with a healthy compound annual growth rate during the forecast period.

Market Drivers

The Australian telemedicine market is gaining popularity in remote locations for the treatment of chronic diseases. Telemedicine helps the care providers and doctors to analyze, diagnose and treat patients and prescribe suitable medications. The Australian telemedicine market is on the rise, with remote monitoring of patients, medical expenses, technological advances, and an increase in cases of chronic diseases. The other main drivers of the market include increased incidence of chronic diseases and increasing demand for self-care. In addition, improvements in an Internet application, virtual medicine, and the growing demand for centralized medical care are expected to reduce costs, which is one of the key success factors that drive the growth of the regional telemedicine market.

1. Australia Telemedicine Market Overview……………………………………………………….
A. Market Size
2. Market Growth Drivers ………………………………………………………………….
A. Increasing Prevalence of Chronic Diseases
B. Growing Demand for Centralized Medical
C. Increasing Demand for Self-Care
3. Telemedicine use by Disease………………………………………………………
A. Diabetes
B. Oncology
C. Chronic Disease
D. Mental Health
E. Others
4. Telemedicine Market Segmentation………………………………………………………….
A. Application
I. Tele-Cardiology
II. Tele-Radiology
III. Tele-Pathology
IV. Tele-Dermatology
V. Tele-Neurology
VI. Tele-Homecare
VII. Emergency Care
VIII. Others
B. Product
I. Software
II. Hardware
III. Others
5. Telemedicine Major Products Market Share…………………………………………
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles……………………………………………………………………
A. Honeywell Life Care Company overview, Product & Services, Strategies & Financials
B. Philips Company overview, Product & Services, Strategies & Financials
C. Robert Bosch Healthcare Company, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape……………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth…………………………………………………………
A. New Trends and Development of Telemedicine market
B. Future Opportunities
10. Conclusion 

Market Segmentation

By Application:

Based on the application of telemedicine the Australian market is segmented into Tele-Cardiology, Tele-Radiology, Tele-Pathology, Tele-Dermatology, Tele-Neurology, Tele-Homecare, Emergency Care, & Others. Tele-Homecare Segment is expected to witness a rapid growth rate in the Australian Telemedicine Market. The rise of chronic diseases is a major concern in the Australian region that places increased strain on healthcare resources. Tele-Homecare is an innovative way to provide care, monitor a patient, and provide information by using the latest technology in telecommunication. Monitoring allows early identification of disease, thus preventing chronic conditions.

The Tele-Homecare segment is expected to witness a rapid growth rate in the Australian Telemedicine Market. The rise of chronic diseases is a major concern in the Australian region that places increased strain on healthcare resources. Tele-Homecare is an innovative way to provide care, monitor a patient, and provide information by using the latest technology in telecommunication. Monitoring allows early identification of disease, thus preventing chronic conditions.

By Product:

Based on product, the Telemedicine market has been segmented into software, hardware, and others. Some of the Telemedicine software in Australia include Cliniko, HealthArc, Lifesize, Practice-Web Dental, Spruce, Wecounsel, & Others. Australia’s telemedicine market is moving towards integrated platforms and hardware-independent, vendor-neutral solutions.

Major Players

Key Players in the Australian market for the Telemedicine market are Cerner Corporation, Honeywell Life Care Solutions, McKesson Corporation, Medtronic, Inc., Robert Bosch Healthcare, Cisco Systems, Inc, AMD Telemedicine, GE Healthcare, Aerotel Medical Systems, Philips Healthcare, Ellume, & MedCom. MedCom is currently working on a national telemedicine program. The goal of the strategy has been to manage the problem of health workforce shortages through the development of video conferencing, home monitoring, and image transfer techniques.

Recent examples of international partnerships include Ellume, an Australian digital diagnostics company, that has partnered with German-Dutch company QIAGEN to develop new tuberculosis (TB) testing solutions. Ellume’s detection technology is powered by a quantum dot nanoparticle, which integrates optics, electronics, biologics, and software into an intuitive and high-performance digital platform.

 

 

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

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Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.