The global telemedicine market was valued at USD 60,908.9 million in 2021 and it is anticipated to grow up to USD 4,35,880.7 million by 2031, at a CAGR of 21.4% during the forecast period.
Global telemedicine report from Global Insight Services is the single authoritative source of intelligence on telemedicine market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Major Players in the Global Telemedicine Market
The key players in the market are Koninklijke Philips (Netherlands), Medtronic (Ireland), GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers (Germany), Cisco Systems (US), Asahi Kasei Corporation (Japan), Teladoc Health (US), American Well (US), and AMC Health (US), among other.
Global Telemedicine Market Segmental Overview
The report analyses the global telemedicine market based on service, type, specialty, delivery mode, and region.
Global Telemedicine Market by Services
Based on service, it is segmented into the tele-consulting, tele-monitoring, and tele-education/training. The tele-consulting segment accounted for the largest share of the global telemedicine market in 2021. The large share of the segment can be attributed to the growing demand for home-based remote monitoring service will boost the number of tele-consultations.
Global Telemedicine Market by Type
Based on type, it is segmented into telehospital and telehome. The telehospital segment is likely to dominate the market during the forecast period. This is due to increasing adoption and usage of telemedicine services in hospital setting to consult various specialists by doctors. This will result in cost savings for the hospitals as well as for the patients. Also, increasing government funding and grants for encouraging adoption of telemedicine services in hospitals will boost the segment demand.
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Market Trends and Drivers
Surging prevalence of chronic diseases and cost-benefits of telemedicine will propel the market expansion. For instance, according to the US CDC, chronic diseases are major causes of death and disability globally and are strong contributors to the rise in annual healthcare expenditures. The management of chronic diseases requires constant monitoring and therapy to slow their progress.
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