Telemedicine Market is expected to reach USD 246.7 billion by 2027
-
Upload
billionjason80 -
Category
Healthcare
-
view
1 -
download
0
description
Transcript of Telemedicine Market is expected to reach USD 246.7 billion by 2027
The snowballing population, the necessity to expand healthcare services, the increasing prevalence of
chronic diseases and illnesses, and the shortage of doctors, government support, increased awareness
after the COVID-19 outbreak are the factors driving the global telemedicine market. The
Global Telemedicine Market was valued at USD 56.5 billion in 2020, and it is expected to reach USD
246.7 billion by 2027, with a CAGR of 23.6%, during the forecast period.
After the outbreak of COVID-19, the demand for healthcare services and technology has reached an
all-time high. Technologies such as telemedicine, chatbots, and robots are being deployed to help
gather information, comfort people, treat & diagnose patients, and even formulate future vaccines. In
view of the global shortage of hospital beds and medical staff, the potential of telemedicine has been
emphasized. Players in the telemedicine industry focus on providing innovative solutions for COVID-
19 to support hospitals and healthcare providers. Increasing awareness and growing adoption to
telemedicine during the Covid time is anticipated to propel the market during the forecast period.
Request a Sample Report- https://www.alltheresearch.com/sample-request/622
Medical fraud is an important consideration in the field of telemedicine and telemedicine practice.
There are many ways in which patients or doctors can be victimized-for example, the doctor’s name
and account can be used to receive payments from insurance companies, or non-eligible or unlisted
institutional providers may improperly code and charge false bills and claim. This factor might hinder
the growth of global telemedicine market. Behavioural obstacles may not be the most obvious limiting
factor, but they still pose a major obstacle to the adoption of telemedicine. Doctors and patients often
face unfamiliarity with new practices and will not easily abandon existing (traditional) practices. Due
to unfamiliarity with technology, the elderly may also refuse to use telemedicine and telemedicine
services.
The Global Telemedicine Market is segmented by type which is further bifurcated into tele home and
tele hospital. The sub- segment tele hospital is anticipated to have largest share in the market due to
requirement of telemedicine in case of emergency. By services telemedicine market is sub divided into
tele-consulting, tele-monitoring, and tele-education/training. Tele- monitoring is the highest growing
segment due to increasing home care assistance for the generic population. By delivery mode the
segment is bifurcated into call centers, and web/mobile. Web or mobile is witnessing the significant
growth because is offers the direct access to deliver the care solutions. By application, the segment is
sub- divided into tele radiology, tele psychiatry, tele dermatology, tele cardiology, and others. Tele
radiology is the highest growing sub segment over the forecast period.
The major key players operating in the global telemedicine industry are SteadyMD Inc.; American
Well; MDlive Inc.; Maven, Inc.; HealthTap, Inc.; iCliniq; BioTelemetry, Inc.; CVS Health; Synapse
Medicine; Teladoc Health, Inc.; Practo, Doctor On Demand, Inc.; Aerotel Medical Systems Ltd.; AMD
Global Telemedicine; and Plantronics, Inc. (Polycom).
Key Findings:
Based on type, the tele hospitals segment is expected to have the highest market share during
the forecast period.
Based on service, tele monitoring segment dominated the telemedicine market in 2020 and is
expected to continue its dominance throughout the forecast period.
Based on the delivery mode, web/mobile segment is expected to grow with the highest
CAGR during the forecast period.
Based on application, tele radiology segment accounted for the largest share of the market.
Regionally, North America region captured a significant portion of the global telemedicine
market in 2020 and is expected to dominate the global telemedicine market during the
forecast period
Recent News:
In August 2020, AMD partnered with iTelemed, an Ontario-based company that provides
virtual healthcare solutions. This partnership aims to meet the unmet healthcare needs of
marginalized people in Canada during the COVID-19 pandemic.
In July 2020, Teladoc Health, Inc. acquired the American company InTouch Health. In this
way, the company combined InTouch Health's product portfolio with its existing products
and enhances healthcare in inpatient, outpatient, and home care settings.
In June 2019, Zava received funding of USD 32 Mn, with this funding the company plans to
expand its telemedicine services across Europe.
On April , 2021, Verizon launched Blue Jeans Telehealth, which will offer library functions
so that health care professionals can guide patients to read important reading materials. In
addition, it can also help patients complete the questionnaire in advance.
The Global Telemedicine Industry Segmentation:
By Type
1. Tele home
2. Tele hospitals
By Service
1. Tele-consulting
2. Tele-monitoring
3. Tele-education/training
By Delivery Mode
1. Call Centers
2. Web/Mobile
By Application
1. Tele radiology
2. Tele psychiatry
3. Tele dermatology
4. Tele cardiology
5. Others
By Region
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa
Company Profiles and Competitive Intelligence
MDlive Inc.
SteadyMD Inc.
Maven, Inc.
iCliniq
HealthTap, Inc.
BioTelemetry, Inc.
American Well
CVS Health
Synapse Medicine
Practo
Teladoc Health, Inc.
Doctor on Demand, Inc.
AMD Global Telemedicine
Read More Information- https://www.alltheresearch.com/report/622/telemedicine-market
About Us
AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realize, that it's not just sheer data points, but the right analysis that creates a difference. While some clients were unhappy with the inconsistencies and inaccuracies of data, others expressed concerns over the experience in dealing with the research-firm. Also, same-data-for-all-business roles were making research redundant. We identified these gaps and built AllTheResearch to raise the standards of research support.
For All Your Research Needs, Reach Out to Us:
Contact Name: Rohan S.
Email: [email protected]
Phone: +1 (407) 768-2028