Healthcare Video Conferencing Solutions Market Regional Analysis:
North America Market Statistics
North America industry is set to hold largest revenue share of 33.6% by 2035. The improved success rate of research-based evolutions in video conferencing technology has emphasized the industry. Advanced features of these telehealth services have greatly contributed to revamping the region’s healthcare configuration. Regional governing bodies are partnering with research associations to build new HIPPA-compliant software, indicating the scope of development. Telehealth policies are now being modified after the COVID-19 public health emergency, promoting a structured regulatory framework for better compliance. Moreover, expanding the healthcare video conferencing solutions market for more secure communicative solutions, including video conferencing.
The U.S. healthcare video conferencing solutions market is booming to capture a significant share of this region. The increasing need for telehealth communication in rural areas has inspired companies to invest in technologies, that are cost-effective and user-friendly. According to an NOSI issued by U.S. Government, in May 2023, about 20% population lives in rural areas and an estimated 22.2 million rural residents face a shortage of healthcare providers. This report indicates the large consumer base for the telehealth industry. Further, it concludes the increasing demand for advanced yet affordable communication technologies. A report published by GAO (U.S. Government Accountability Office) in September 2022 that investment in telehealth services has increased from USD 306 million to about USD 3700 billion during 2019-2020.
Canada is also estimated to witness the biggest revolution in the healthcare video conferencing market. The government of this country is issuing policies for equal distribution of convenient healthcare facilities. According to a report published by NIH in October 2021, Canada has issued a telemedicine program, OTN (The Ontario Telemedicine Network). This program will ensure telehealth services to patients with minimum technological capabilities. Such initiatives are encouraging the market participants to invest in larger production of quality video conferencing solutions.
Asia Pacific Market Analysis
Asia Pacific healthcare video conferencing solutions market is also expected to witness rapid growth due to the surge of at-home healthcare solutions. The increasing number of elderly populations in this region is increasing the demand for remote consultation methods. Increased awareness about mental health in educational and corporate sectors is also putting a requirement for a system of on-call doctors. Accelerated digitalization has grown an accepting consumer base, further developing the potential market space for innovative product launches.
India emerging to be one of the fastest-growing countries for the healthcare video conferencing solutions market in upcoming years. The government is proceeding towards creating a digital spectrum of healthcare to connect patients with their required healthcare facilities. Schemes such as eSanjeevani and Ayushman Bharat are showcasing future investment opportunities supported by the government. In August 2023, Zenzo launched a 5G ambulance service, which will be able to collect and share real-time health data, advanced patient monitoring, and faster treatment responses.
China is also leading its path toward building a digitalized healthcare infrastructure, enlarging the healthcare video conferencing solutions market. With a large population and developing technology, the country created a sustainable patient base to invest in. Video conferencing can provide patients with a safe and convenient platform to get effective counseling and therapies. In China, there has been a significant push towards mental health services, which have the potential to boost the healthcare video conferencing solutions market.
