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.
New York, Global Telemedicine Market from Global Insight Services is the only authoritative source for intelligence on the Telemedicine Market . The report will provide you with an analysis of the impact of the latest market disruptions such as the Russo-Ukrainian War and Covid-19 on the market. The report provides a qualitative analysis of the market using various frameworks such as Porters Analysis and PESTLE. The report includes in-depth segmentation and market size data by categories, product types, applications, and geographic regions. The report also includes a comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as mergers and acquisitions activities in the market.
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Telemedicine, also known as telehealth or e-medicine, is the remote delivery of healthcare services via telecommunications infrastructure, such as exams and consultations. According to recent research, 90% of organisations have already started or implemented telemedicine programmes. Even small, independent medical practises are beginning to embrace telemedicine in order to compete with local retail clinics and stop losing patients.
Key Players
- 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)
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. Telehealth and telemedicine, especially remote patient monitoring (RPM)/tele-homecare, are capable of improving patient self-management, medication compliance, clinical outcomes, and patient & provider satisfaction while reducing emergency room visits, hospital admissions, primary care utilization, long-term care, home admissions, and patient travel costs. These advantages are driving the demand for telehealth among end-users.
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Market Segments
By Component
- Product
- Services
By Application
- Teleradiology
- Telepsychiatry
- Telepathology
- Telecardiology
- Others
By Delivery Mode
- Text based
- Video based
- Call Centers
By End-User
- Provider
- Payers
- Patients
- Others
Key Players
- Teladoc
- American Well
- Doctor on Demand
- MDLIVE
- MeMD
- Breakthrough
- HealthTap
- Pager
- Sherpaa
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