Bangladesh Telemedicine Market Analysis

$3,500.00$7,500.00

  • Type: Service area
  • Published : February 2022
  • Region: Bangladesh
  • Country: Other
  • Report ID : 5086

  • Format: PPT, PDF

Bangladesh Telemedicine Market Analysis: Segmented by Type, Component – Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

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Report Description of the Bangladesh Telemedicine Market Analysis

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for Bangladesh Telemedicine Market Analysis
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Bangladesh Telemedicine  Market  Analysis
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Bangladesh Telemedicine Market Analysis Executive Summary

Telemedicine service is a value added service taking advantage of the developments in telecommunication and growing internet facilities. It can play a significant role in providing medical facilities in remote areas where modern health facilities are very limited. This service paradigm is especially critical for developing countries like Bangladesh where access to medical facilities and necessary equipment are limited in rural areas. Telemedicine can be a cheaper and easier way to disseminate medical facilities among large group of people in the remote areas by using limited resources.

Market Size and Key Findings

The Bangladesh Telemedicine Market Analysis size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Market Dynamics

Market Growth Drivers Analysis

The rise of internet penetration in Bangladesh has brought a rapid rise that promoted a new era in online economics. Telehealth is 3rd in the list of most preferred investment segments in the country, with preference from 67% of investors, meaning that it has a bright economic future in Bangladesh. The primary purpose of telemedicine is to reach health care service to patient who is some way isolated from specialized care. Telemedicine provides services on 24 hours a day and seven days a week basis. The patient may be living in remote place like rural area or in a ship in Deep Ocean and even in space craft. Access to the internet has grown at around 19% per year from 2012 and so has the access to smartphones. This has enabled more businesses to roll out smart phone specific offerings and create a market for themselves.

Market Restraints

Due to ill-equipment, insufficient numbers of doctors and health care professionals, and poor healthcare infrastructure, most rural people are required to travel long distance to access modern healthcare facilities mostly located in urban areas. To overcome this disparity in healthcare access, Telemedicine market can play a critical role. To introduce a new program, resource limitation is one of the major problems in developing countries. Although Telemedicine is started with high desire, it cannot reach its destination due to high costs, underdevelopment infrastructure, and lack of technical expertise.

Covid-19 Market Impact Analysis

Due to the rise of the COVID-19 pandemic, many things have gone through a revolution. This revolution is an increasing shift from the usage of in-person methodologies to online systems. Shopping, ride-sharing, health, and even education have all gone through this stage. Many of these sectors have many studies to find out their optimized usage.

Competitive Landscape

Key Players

Some of the major industry players involved in Asia Pacific telemedicine market include Koninklijke Philip N.V., In Touch Technologies Inc., Resideo0 Technologies Inc. and AMD Global Telemedicine Inc. among others. Companies undertake various strategies such as new product launch geographic expansions to strengthen their market share.

Products in Pipeline

  • GrameenPhone runs a “Dial 789” service that uses mobile phones for consultancy purposes at district and upazila levels. This is very effective in suggesting OTC (over the counter) medicine and has more reach since there are no internet requirements.
  • “Jeeon” has been one of the key players in the telemedicine industry for some too. They entered the market by signing an agreement with Paperfly. Paperfly will deliver life-saving medicine to remote areas pharmacies of the country as a partner of Jeeon.

Notable Recent Deals

  • Under the Directorate General of Health Services (DGHS), high quality telemedicine services have been established at 2 specialized hospitals (Bangabandhu Sheikh Mujib Medical University and National Institute of Cardiovascular Diseases), 3 district hospitals (Shatkhira, Nilphamari and Gopalganj) and 3 sub-district hospitals (Pirgonj, Dakope and Debhata). Additionally, webcams have been given in each sub-district, district, medical college and post-graduate institute hospitals

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

Consultation with general practitioners is usually free for all government health services (national health call centre) and most private health (Shastho Batayon, LifeSpring, Synesis Health) services barring a few. The call rates range from Tk0.50-0.57 per minute. Some non-governmental services like Praava charges it’s patients somewhere between Bangladesh’s public healthcare system and more expensive private hospitals.

To overcome the disparity in healthcare access, a locally developed PC based low cost diagnostic equipment and software telemedicine service has been introduced in various districts in Bangladesh. These services have been provided through local pharmacies as rural healthcare center considering the fact that most people see these places as a first place of contact for an initial medical advice if they have any health issues, especially rural people. Service feedbacks are collected by volunteers following the schedule. These services have become popular particularly to women, senior and disabled citizens, since they are unable to travel other places due to distance and cost. In addition, patients can receive health care services from a particular mobile telemedicine service point at a nearest place. The center provides one day free consultancy for poor, vulnerable, and disadvantaged people. A trained operator collects primary information of a patient such as name, age, weight, blood pressure, check diabetes, any previous report or prescription, etc. Through online Telemedicine application, patient can even consult with urban doctors through video conferencing. Remote doctor provides prescription, if necessary, of a patient to the local operator through the Internet. A remote doctor can access the physical condition of a patient using stethoscope over the Internet with the help of a local operator if necessary. This service also provides the ECG health monitoring facilities to the local patients. All patients’ data are reserved in web server for further follow up services.

1. Report Description of the Bangladesh Telemedicine Market Analysis
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Bangladesh Telemedicine Market Analysis Executive Summary
2.1 Bangladesh Telemedicine Market Analysis – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of Bangladesh Telemedicine Market Analysis
3.1 Market Growth Drivers Analysis
3.1.1 The rise of internet penetration in Bangladesh
3.1.2 Telemedicine provides services on 24 hours a day
3.2 Market Restraints Analysis
3.2.1 Ill-equipment
3.2.2 Insufficient numbers of doctors
3.3 Covid-19 Market Impact Analysis
4. Bangladesh Telemedicine Market Segmentation
4.1 By Type:
4.1.1 Telehospital
4.1.2 Telehomes
4.1.3 Mhealth (Mobile Health)
4.2 By Component:
4.2.1 Product
4.2.2 Services
5. Bangladesh Telemedicine Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives Telemedicine Market
6.4 Notable recent deals in Telemedicine Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Koninklijke Philips N.V. Company overview
Product & Services, Strategies & Financials
7.2 In Touch Technologies Inc. Company overview
Product & Services, Strategies & Financials
7.3 Cerner Corporation Company overview
Product & Services, Strategies & Financials
7.4 AMD Global Telemedicine Inc. Company overview
Product & Services, Strategies & Financials
7.5 Aerotel Medical System Company overview
Product & Services, Strategies & Financials
7.6 McKesson Corporation Company overview
Product & Services, Strategies & Financials
7.7 Cisco Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Telemedicine market
9.2 Future Opportunities
10. Strategic Recommendations

Bangladesh Telemedicine Market Analysis Segmentation

By Type:

Based on type, the telemedicine market is segmented into telehospital and telehome. Telehome care segment held a lucrative market share and is expected to show significant growth during the analysis timeframe.

By Component:

Based on Component, the telemedicine market is segmented into Product and Service. In Product component it is segmented into Hardware – Medical Peripheral Devices, Monitors (HD, Full HD, 4K/8K). Software (Integrated and Standalone) and Other Product. In Service component it is segmented into, Teledermatology, Teleradiology, Telecardiology, Telepsychiatry, And Other Services.

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”.

Our analysis methodology involves three critical stages:

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.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

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:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

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

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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