San Francisco, California, March 06, 2018: A recently added market study by TMR Research, titled, “Healthcare Satellite Connectivity Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017–2025,” studies the market from every possible angle to understand the dynamics shaping it. The report does so by factoring in the historical and current data and various tailwinds and headwinds to the market. It also throws light on the competitive landscape in the market to understand the opportunities and pitfalls the players need to be keep in mind.
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The report finds that with patients becoming more tech savvy and concerned about their health, telemedicine, eHealth, telehealth, and other mHealth solutions will likely see larger uptake thereby contributing to the growth in the market for healthcare satellite connectivity. The healthcare industry has been lapping up new technology platforms to offer more effective and accurate diagnosis and treatment to the ever-increasing pool of patients. This coupled with the increased healthcare spends of people is having a positive influence on the global market for healthcare satellite connectivity.
The report adds that the increasing occurrence of chronic diseases and a burgeoning geriatric population are majorly fuelling the global market for healthcare satellite connectivity. Apart from that, it also benefits the rural pockets that do not have healthcare infrastructure, let alone a skilled workforce. Satellite connectivity to empower technology-enabled healthcare services can greatly help the regions. It can facilitate remote patient monitoring, digital imaging, remote patient monitoring, and e-consultation. The aforementioned advantages along with government initiatives has proved a crucial catalyst for demand in healthcare satellite connectivity market.
The global Healthcare Satellite Connectivity Market is comprised of medical device, implanted medical devices, system and software, and services. While the medical devices consist of wearables, wearable external devices, stationery medical devices, and so on, the system and software consists of remote device management, data analytics, network bandwidth management, network security, and application security. Services, on the other hand, include consulting, system integration services, and support and maintenance.
The system and software segment accounted for maximum share in the revenue – around 50.0% – in 2016. This is mainly on account of the availability of different software for the management of medical records, patient database, and other operations. The rising demand for data analytics in healthcare and rapid implementation of technology in medical services is also benefitting the market.
Some of the key end users in the market for healthcare satellite connectivity are hospitals and clinics, clinical research organizations (CRO), and research and diagnostic laboratories.
From a geographical standpoint, North America is a key region in the global market for healthcare satellite connectivity. The region’s growth has been brought about by swift uptake of latest high-speed telecommunication technologies for building a state-of-the-art healthcare infrastructure. Insurance providers are seen inking deals with telehealth and telemedicine solutions providers. This along with progress in critical care and the rising usage of digital healthcare technologies in hospitals is predicted to boost its market in the next couple of years as well. Asia Pacific too has emerged as an attractive market on which most savvy players have set their gaze upon on account of increasing healthcare spending by governments.
In order to outgun rivals, companies are seen providing innovative eHealth solutions that are customized for a range of telehealth applications. Some of the prominent participants in the healthcare satellite connectivity market are Expedition Communications, Globalstar, X2nSat, Hughes, SES S.A., and Inmarsat plc.