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A recent report published by Infinium Global Research on telemedicine market provides in-depth analysis of segments and sub-segments in the global as well as regional telemedicine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional telemedicine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global telemedicine market.
Telemedicine is a subset of telehealth that includes both remote clinical service delivery and nonclinical elements of the healthcare system. Telemedicine is the remote delivery of healthcare services such as health assessment or consultation over the telecommunication infrastructure. It allows healthcare service providers to examine, diagnose, and treat patients almost anytime, day or night without the need for an in-person visit. Telemedicine lets healthcare providers examine, diagnose, and treat patients using technology like phones, computers, or other devices. Telemedicine is a burgeoning technology and has high growth potential. Telemedicine offers several benefits such as it lets healthcare providers diagnose common viruses like colds, infections, rashes, allergies, mental health problems like anxiety or depression, and routine follow-up visits for surgery or illness. In addition, telemedicine allows the sharing of health data through digital devices such as phone apps, wearable devices, and other medical devices. Also, this technology helps to send X-rays, ultrasound photos, or images and improves access to the specialist.
The high prevalence of chronic diseases and rising geriatric population are the driving factors fueling the growth of the telemedicine market. The telemedicine market is experiencing robust growth, primarily driven by the increasing prevalence of chronic diseases and a rising geriatric population. Chronic diseases, such as diabetes, heart disease, and hypertension, require continuous monitoring and management, making telemedicine a convenient and cost-effective solution for patients and healthcare providers. Moreover, the expanding elderly demographic, who often have complex healthcare needs, benefits from remote consultations and monitoring, reducing the burden on in-person healthcare services. These factors have accelerated the adoption of telemedicine, improving patient access to care and providing more efficient healthcare delivery, ultimately propelling the market's expansion. The increasing healthcare expenditure is a significant driver for the demand in the telemedicine market. As healthcare costs rise, both patients and healthcare providers seek cost-effective alternatives. Telemedicine offers efficient healthcare delivery, reduces overhead expenses, and minimizes the financial burden on patients, making it an attractive solution in the context of rising healthcare costs. However, inadequate healthcare infrastructure in some economies is the factor inhibiting the growth of the telemedicine market. However, the ongoing progression in telehealth technology, including artificial intelligence, machine learning, the Internet of Things, and secure video conferencing, presents substantial prospects for hospitals and healthcare institutions to embrace telemedicine. These technological advancements create a promising opportunity for the telemedicine market to grow and evolve in the future.
North America is expected to hold a significant share of the global telemedicine market. Telemedicine is a rapidly growing component of healthcare in the United States due to the growing burden of chronic diseases and the high adoption of advanced healthcare technologies. The adoption of telemedicine has improved care management, patients’ quality of life, and reduced healthcare spending. Furthermore, the rising demand for mobile technologies, rising home care adoptions by patients, increased healthcare expenditure, and reduction in hospital visits are expected to propel the market’s growth over the forecast period. Moreover, the increasing healthcare spending by the North American government is anticipated to drive the adoption of telemedicine, thereby propelling market growth. Additionally, Asia Pacific is witnessing the fastest growth in the global telemedicine market due to increasing healthcare access demands, expanding digital infrastructure, and a rising awareness of remote healthcare solutions. These factors are driving adoption and investment, positioning the region as a key player in telemedicine expansion.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 90.44 Billion |
| Market Size by 2030 | USD 392.44 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 17.35% |
| Largest Market | North America |
| No. of Pages | 300 |
| Market Drivers |
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| Market Segmentation | By Type, By Clinical Service, By Technology, and By Mode of Delivery |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global telemedicine market covers segments such as type, clinical service, technology, and mode of delivery. On the basis of type, the sub-markets include live video conferencing, store and forward or asynchronous video, remote patient monitoring, and mobile health or mhealth. On the basis of clinical service, the sub-markets include teleradiology, telecardiology, teleconsultation, teledermatology, telesurgery, telepathology, and telepsychiatry. On the basis of technology, the sub-markets include software, hardware, and telecom. On the basis of mode of delivery, the sub-markets include cloud-based delivery, and on premise delivery.
The report provides profiles of the companies in the market such as Allscripts/Veradigm, AMD Global Telemedicine, Life Care Solutions (acquired by Clear Arch Health), Medtronic, SHL Telemedicine, Aerotel Medical Systems (1998) Ltd., Plantronics, Inc., Teladoc Health, Inc, HealthTap, Inc., and Twilio Inc..
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the telemedicine market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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