- Report ID: BMRC 416 | Number of pages: 199 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
Telemedicine Market is valued at USD 40.11 billion in 2018 and expected to reach USD 148.32 billion by 2025 with CAGR of 20.54% over the forecast period.
Telemedicine electronic communications and software provide clinical services to patients without in-person visit and offers remote delivery healthcare services. In telemedicine, the technology allows healthcare provider to diagnose patients using smartphone through the video conferencing. This technology is used for medicine management, management of chronic condition and other clinical services. The healthcare systems, physician practices and skilled nursing facilities are using telemedicine to provide healthcare facilities more efficiently. Due to the artificial intelligence provider monitoring, diagnosis and treatment of telemedicine can be easily performed in real time.
Global telemedicine market report is segmented on the basis of technology, specialty, service, mode of delivery, end user and by regional & country level. Based on technology, global telemedicine market is classified as Peripheral, Axial Bone Densitometry, Software, Hardware and Telecom & Networking. Based on specialty, global telemedicine market is classified as gynecology, neurology, dermatology, orthopaedic, cardiology, internal medicine, emergency care, and other. Based on service, global telemedicine market is classified as tele training, tele consulting, tele education, tele monitoring, telesurgery, telepathology, teledermatology, telepsychiatry, telecardiology, teleradiology, tele-care, real-time interactive, store-and-forward and other. Based on mode of delivery, global telemedicine market is classified as cloud-based delivery, on-premise delivery and other. Based on end user, global telemedicine market is classified as clinic, hospital, tele home, mhealth (mobile health), patients, payers, providers and other.
The regions covered in this Telemedicine market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Telemedicine is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Telemedicine Market report covers prominent players like Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions, Inc, Cardiocom, LLC, LifeWatch AG, InTouch Technologies, Inc, Honeywell HomMed , F. Hoffmann-La Roche Ltd, CISCO Systems , McKesson Corporation, Telemedicine, Inc., and others.
Market Dynamics –
Increasing revolution in telecommunication market is driving the telemedicine market.
From the last few years, increasing health related problems with the rising concerns of remote services is the major growth factor of telemedicine market. For example, the patients in rural areas are increasingly required specialty services such a mental health treatment or post-surgery follow up, that they can get these types of services with the help of telemedicine without traveling a large distance. Additionally, the widespread availability of the internet and high quality video devices coupled with affordable care act and progressive reimbursement laws are the key factors helps to drive the telemedicine market. Furthermore, approximately 16.4 million peoples are having health care coverage according to the health and human services. However, technical training and equipment, reduced care continuity, fewer in-person consultations, tricky policies and reimbursement rules, etc. may obstruct the growth of telemedicine market. Moreover, increasing use of internet with advanced healthcare services in developing countries will be providing lucrative opportunity for telemedicine market.
Regional Analysis –
North America is dominating the telemedicine market.
North America is accounted for major share over the forecast period owing to the increasing usage of internet and adoption of smart devices is the major factor which helps to grow the telemedicine market. Due to the high speed internet connection, telemedicine market is rapidly growing from the past couple of years. In the North America, various medical centers are consulting the patients to aware about the advanced healthcare facilities. For example; According to the American Telemedicine Association, more than 200 academic medical centers in the U.S. already offer video-based consulting in other parts of the world. Furthermore, About 74% of patients in the U.S. would use telehealth services. Moreover, Europe is the second largest region in telemedicine market followed by North America, due to European countries is strongly supporting the several telemedicine projects. Additionally, Asia pacific is emerging in the telemedicine market is expected to gain a huge interest about telemedicine; with the increasing penetration rate of smart devices is boosting the telemedicine market in Asia pacific.
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Regional & Country Analysis
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Telemedicine Market: Global Industry Analysis, Size, Share, Trends, Segmentation and Forecast to 2020 - 2025