Telemedicine Market 2022-2030
The Telemedicine Market is expected to grow at a stupendous rate in the next 10 years. The healthcare industry is being driven by innovation. The very idea of “Customer is the King” is being implemented. As such, healthcare IT solutions come across as a meticulous and complex system that constitutes interconnected and large-scale systems wherein micros are being worked upon. These would be the facets of the healthcare vertical going forward.
Rapidly evolving technology plays a noteworthy role in making a patient’s healthcare journey easier. Combined with advancements in mobility and telepresence solutions, this is expected to create new unwired business models that are capable of providing care anywhere. According to the latest research by PMR, the global telemedicine market is expected to account over US$ 38,000 Mn by the end of 2029. The telemedicine market is expected to grow at a CAGR of 17.0% through the forecast period 2019-2030.
Request for Free Sample Report of “Telemedicine” Market @ https://www.persistencemarketresearch.com/samples/2818
The integration of Internet of Things (IoT) sensors in healthcare equipment and machinery results in the mitigation of errors while dealing with a significant amount of sensitive patient data. Moreover, it eliminates human errors and reduces process-related time, cost, and power consumption, which is expected to drive the telemedicine market.
Key Players:
The report has profiled some of the important players prevalent in the global like – Tele-Med International, Babylon, CareClix, Global Telehealth Services, AMD Global Telemedicine, American Well, Doctor on Demand, MD INTERNATIONAL AB, Encounter Telehealth, MDLIVE Inc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Telemedicine Market.
Nearly 30% Market Value Share Slated for Asia Pacific
Asia Pacific is expected to account for approximately 30% share of the global telemedicine market by 2025, which is primarily driven by a reduction in the cost of primary care and improvement in the delivery of quality healthcare to the last mile in China and India. Increasing Y-o-Y (%) growth in GDP (at constant prices), coupled with growing urbanization in certain countries, such as China, India, and Indonesia, is expected to boost the spending on public infrastructure, and, in turn, boost the telemedicine market. The adoption of digital services offers better connectivity and collaboration, which increases accessibility to information and services. This is also expected to spur the Asia Pacific telemedicine market over the forecast period.
The telemedicine market is a very lucrative market that offers new players high return on investment. Telehealth companies are focusing on acquisitions to grow their business, especially in emerging economies such as Asia Pacific and Latin America. For instance, in 2018, Teladoc Inc. acquired Advance Medical Inc. to expand its market share in Latin America and Asia Pacific. This acquisition also enabled Teladoc Inc. to provide care in 20 languages through its platform. Similarly, InTouch Health acquired Reach Health to broaden its footprint and boost its ability to help its customers introduce telehealth programs across the care continuum.
Furthermore, lack of infrastructure and internet connectivity is among the key factors hampering the progress of telemedicine in developing economies. For instance, the minimum speed of the internet required for consultation via telemedicine services is 2 Mbps, which is not available in most of the villages of India. Moreover, the penetration of broadband is less than 2% in India. In addition, only a limited number of individuals in developing countries use the internet. For example, the percentage of internet users in India, Indonesia, and Brazil is 35%, 32%, and 60% respectively, which is likely to hinder the growth of the telemedicine market.
Other factors, such as the increasing use of smartphones, use of wireless technologies that bring cost-efficiency, improved accuracy of treatment & diagnosis, reduced consultation time, and the need to maintain high standards of delivery of service by providing access to quality care on a real-time basis are also some of the factors contributing to the growth of the telemedicine market. Growing awareness about telemedicine services, especially among the younger and middle-aged population globally, has led to the high demand for online consultations and second opinions, as these services help patients receive medical advice from physicians across the world.
The North America and Europe telemedicine markets are expected to have a combined share of over 53% of the global telemedicine market during the forecast period. This can be primarily attributed to growth in the ageing population worldwide and increasing life expectancy, which is expected to be a significant burden on the healthcare systems in regions such as Western Europe, the U.S, and emerging economies.
The report offers a comprehensive taxonomy of the telemedicine market based on the service type, mode of delivery, end user, and region.
Based on product type, the global telemedicine market is segmented into real-time telemedicine and remote patient monitoring. Real-time telemedicine is further subsegmented into teleconsultation, telepathology, telecardiology, telesurgery, teleradiology, teledermatology, telepsychiatry, and others (teleopthalmology, teleneurology, and telenephrology).
Based on the mode of delivery, the global telemedicine market is segmented into cloud-based delivery and premise-based delivery. Based on end user, the global telemedicine market is segmented into hospitals & clinics and homecare settings. The real-time telemedicine subsegment of the service type segment is expected to hold the maximum share in the global telemedicine market. From a geographical perspective, the telemedicine market is segmented into North America, Latin America, Europe, Asia Pacific, MEA ex. GCC & MENA, GCC Countries, and MENA.
Request For Customization @ https://www.persistencemarketresearch.com/request-customization/2818
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Telemedicine Market Manufacturers
Telemedicine Market Distributors/Traders/Wholesalers
Telemedicine Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
If you have any special requirements, please let us know and we will offer you the report as you want.
Key Questions Answered in the Telemedicine Market Report
How is the Telemedicine Market expected to grow over the projected period?
What direction is the Telemedicine Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Telemedicine Market in future?
What are the key market drivers in the Telemedicine Market?
What are significant opportunities and improvement areas for Telemedicine Market manufacturers?
What are the key developments and trends taking over the Telemedicine Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Telemedicine Market?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.
Click Here to Buy this Report@ https://www.persistencemarketresearch.com/checkout/2818
Continued…
About PersistenceMarketResearch:
PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
Media Contact:
Persistence Market Research
305 Broadway,7th Floor New York City, NY 10007 United States
Call +1-646-568-7751
Call +1 800-961-0353