The global telemedicine market size is expected to reach $30.12 billion by 2026 growing at a CAGR of 18.7% during 2019 to 2026.
Telemedicine technology is a game changer for the healthcare industry, as it brings healthcare directly into patient's doorstep. Telemedicine makes use of electronic technologies, such as email, smartphones, and video conferencing, for exchanging the medical information of the patient.
Increasing prevalence of chronic diseases, growing Medicare reimbursement for telehealth services and technological innovation in communication technology are some of the major factors fuelling market growth. However, Lack of Interoperability Between eHealth Solutions are hampering the market.
Amongst Service, tele-monitoring is expected to grow at the significant market share during the forecast period. This can be attributed to the increasing geriatric and disabled populations who are commonly diagnosed with diabetes and cardiovascular complications.
The report analyzes and forecasts the telemedicine market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global telemedicine market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the telemedicine market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of telemedicine market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The global market for telemedicine is developing at a rapid rate with a participation of a large number of local as well as international players operating in it. The development of new products and the rising focus on the research and development activities are projected to support the growth of the global telemedicine market in the next few years. In addition to this, the market players are emphasizing on advertising and marketing and creating an awareness among people concerning the benefits of telemedicine, which is estimated to accelerate the growth of the market in the next few years. The key players operating in the telemedicine market across the globe are Siemens Healthcare, Allscripts Healthcare Solutions, Inc., Agfa HealthCare NV, AMD Global Telemedicine, Inc., CISCO Systems, Inc., CARDIOCOM, LLC, F. Hoffmann-La Roche Ltd., InTouch Technologies, Inc., Honeywell HomMed LLC, LifeWatch AG, Medtronic, Inc., and McKesson Corp.
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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