Healthcare Satellite Connectivity Market to increase rapidly by 2025

Healthcare Satellite Connectivity Market: Snapshot

Healthcare has been vastly evolving ever since the last few decades, when technology started playing a crucial role in monitoring and treatment of various disorders and maladies. Telemedicine has been a recently developed method that uses remote sensing techniques for acquiring information about important disorders and other factors that can affect the health of individuals all over the globe.

One such way of utilizing telemedicine is by using satellite connectivity for undertaking actions such as diagnosis, prevention, education, and treatment of maladies affecting people from different regions. Considerable research and development has been made by various businesses in this market, in order to get maximum relevant information. A lot of research has identified key areas where the satellite technology can be efficiently used. These are are mobility of patients, health early warning systems, home healthcare, health education, and management of disasters, emergency situations, and traumatic scenarios. Two primary methodologies cover these areas of work – services for betterment of the masses with the use of healthcare systems, and interconnectivity between different regions for efficient database management and information exchange.

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A key trend occurring in the healthcare satellite connectivity sector involves reducing the latency of signals, in order to send and receive information. Doing this has been envisioned to enable faster treatments as well improved transfer of uninterrupted healthcare-based information across various channels. Such improved satellite connectivity is expected to broaden the provision of medicines and treatments even in various rural areas, especially those having less contact with urban regions.

Immense market potential has been observed in healthcare satellite connectivity sector through numerous successful projects carried out all over the world. Telecommunications and integrated applications, Eurisy Conference – Satellite Services for the Future, and Health Care Satellite Account from the Bureau of Economic Analysis, are some of the key initiatives and applications that are associated with the healthcare satellite connectivity market.

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Global Healthcare Satellite Connectivity Market: Overview

World over, healthcare systems are increasingly adopting digital technologies to improve the access and quality of healthcare services. Digital technologies have been key enablers for services pertaining to telehealth and telemedicine across urban and rural communities. The access to quality patient care can be severely constrained in remote communities, especially in rural areas, mainly due to the paucity of trained clinicians and the lack of adequate infrastructure. This may be further compromised by the absence of a reliable internet connectivity. Satellite connectivity has increasingly enabled several healthcare centers, including private clinics, to reap the benefits of digital imaging, remote patient monitoring, and e-learning activities among doctors. In recent years, increasing initiatives by public as well as private players to close the gap between the urban and rural healthcare has offered a robust fillip to the market.

Global Healthcare Satellite Connectivity Market: Key Trends

Driven by low-latency benefits and less power outages, the use of satellite connectivity is gaining prominence over terrestrial and cellular connectivity in the delivery of primary, secondary, and tertiary healthcare. The growing healthcare spending on eHealth, telehealth, and telemedicine to improve the quality of patient care is a key factor driving the healthcare satellite connectivity market. The soaring investments by governments in developed and developing regions to adopt digital healthcare technologies has robustly propelled the market. The real-time exchange of electronic medical records (EMRs) and digital pathology images across different geographic locations in order to boost diagnostic and therapeutic outcomes has further catalyzed the market. In addition, the remote monitoring of patients over thousands of miles apart through innovative mHealth (mobile health) services is expected to accentuate the market growth.

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Global Healthcare Satellite Connectivity Market: Market Potential

Sustainable and substantial support initiatives by governments in various regions have paved the way for quality healthcare to all and at affordable costs. The Luxembourg Ministry of Foreign and European Affairs announced in April, 2017 that it has entered into a contract with SES, a prominent satellite operator, to manage and support SATMED, a world-renowned eHealth satellite platform through 2020. The contract calls for the continuous developments of SATMED, including its medical tools and applications and data-hosting capabilities. The solution will enable healthcare professionals, including doctors and nurses, present at remote locations to work collaboratively. In addition, SATMED will improve satellite connectivity over resource-poor nations such as the Philippines, Bangladesh, and Africa.

Under the contract, the deployment of the SATMED platform will be as a fully managed service by SES. The internet connectivity, enabled by SES satellite fleet, will enable clinicians and medical professionals to access e-training, EMR, virtual consultation, and video conferencing. The deployment of the platform is also significant as it will support various regional development programs and humanitarian operations in collaborations with NGOs and governmental organizations. Several deployments have already being done successfully in parts of Asia and Africa. The contract is aimed to have worldwide significance as large number of countries, especially in less developed regions, can access quality healthcare. Such innovative e-Health solutions to remote and isolated areas bode well for the healthcare satellite connectivity market.

Global Healthcare Satellite Connectivity Market: Regional Outlook

North America is a prominent market for healthcare satellite connectivity. The substantial growth of the regional market is driven by the presence of high-speed, modern telecommunication technologies and their increasing adoption for delivering healthcare. Several insurance providers are collaborating with the providers of telehealth and telemedicine solutions, which has boosted the regional market. Advancements in critical care and the growing application of digital healthcare technologies among hospitals are expected to catalyze the market. Meanwhile, Asia Pacific is expected to offer lucrative growth avenues for market players in the coming years. Increasing healthcare spending and substantial governmental support in various countries are expected to fuel the regional market.

Global Healthcare Satellite Connectivity Market: Competitive Analysis

Several players are offering intuitive and innovative eHealth solutions for healthcare institutions to gain a competitive edge over others. Leading players are developing customized solutions for a range of telehealth applications. Major market players operating in the healthcare satellite connectivity market include Globalstar, Expedition Communications, X2nSat, SES S.A., Hughes, and Inmarsat plc.

Healthcare Satellite Connectivity Facilitate Effective Treatment

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.