Global Telemedicine Market cover

Global Telemedicine Market by Types (Telehospitals, Telehomes, and mHealth (Mobile Health)), Services (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.

  • Report ID: MC-2417
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 195
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The global telemedicine market size was valued at USD 38,289 million in 2020 and is projected to reach USD 168,396 million by 2028 at a CAGR of 28% during the forecast period. Growth of the market is attributed to rising telemedicine consulting.

Global Telemedicine Market summary

Telemedicine is a fundamental requirement for the remote delivery of health services such as physical examinations and telephone consultations. It is used to assist patients by utilizing cutting-edge technology such as smartphones and video conferencing, as well as various audio and visual means. It is an absolute necessity in emergencies because healthcare providers are unable to visit their patients in person on a regular basis. A two-way communication channel is established between the patient and the health care provider. Telemedicine has been widely used during the COVID-19 pandemic because it helps to reduce contact with healthcare facilities, healthcare staff, and patients, thereby reducing the risk of COVID-19.  Rising healthcare costs, technological innovations, increased remote patient monitoring, and the growing burden of chronic diseases are major factors driving the telemedicine market.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing initiatives and support from government is projected to drive the market.
  • Rising demand of online consulting has fueled the market.
  • High cost on installation and timely maintenance is estimated to hinder the market growth.
  • Development of low cost consulting device and services is anticipated to create immense opportunities for the market players.

Scope of the Report

The report on the global telemedicine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Telemedicine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2021–2028

Segmentation

Types (Telehospitals, Telehomes, and mHealth (Mobile Health)), Services (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Allscripts Healthcare Solutions Inc., BioTelemetry, Medtronic, and Koninklijke Philips NV

Market Segment Insights:

The telehomes segment is anticipated to hold major market share during the forecast period

Based on types, the global telemedicine market is segregated into telehospitals, telehomes, and mHealth (Mobile Health). The Tele-homecare segment is expected to grow at a rapid pace owing to a novel approach for providing care, monitoring a patient, and disseminating information that makes use of cutting-edge telecommunications technology. Monitoring allows for the early detection of diseases and the prevention of chronic conditions. During the COVID-19 pandemic, tele-homecare was one of the best options for receiving medical advice in the patient's own home.

Global Telemedicine Market type

The teleradiology segment is anticipated to expand during the forecast period

On the basis of services, the telemedicine market is segregated into telepathology, telecardiology, teleradiology, teledermatology, telepsychiatry, and others. The teleradiology segment is anticipated to expand at a CAGR of 26.5% during the forecast period. Growth of the market is attributed to factors such as increased imaging practices, teleradiology workflow adoption by healthcare providers, and streamlining & regulation of teleradiology practices.

North America is projected to dominate the market

In terms of regions, the global telemedicine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Telemedicine is a rapidly growing component of healthcare in the United States, owing to the country's high adoption of advanced healthcare technologies and the growing burden of chronic diseases. Telemedicine adoption has improved care management, increased patients' lifetime, and healthcare spending. Rising demand for mobile technologies, increased patient adoption of home care, and reduction in hospital visits are expected to drive market during the forecast period. Healthcare in the United States is seeing positive trends, with the emergence of telemedicine applications that enable Americans to be more active in their personal health management.

Global Telemedicine Market region

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Telemedicine Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Telemedicine Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Telemedicine Market - Supply Chain
  4.5. Global Telemedicine Market Forecast
     4.5.1. Telemedicine Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Telemedicine Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Telemedicine Market Absolute $ Opportunity
5. Global Telemedicine Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Telemedicine Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Telemedicine Demand Share Forecast, 2019-2026
6. North America Telemedicine Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Telemedicine Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Telemedicine Demand Share Forecast, 2019-2026
7. Latin America Telemedicine Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Telemedicine Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Telemedicine Demand Share Forecast, 2019-2026
8. Europe Telemedicine Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Telemedicine Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Telemedicine Demand Share Forecast, 2019-2026
9. Asia Pacific Telemedicine Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Telemedicine Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Telemedicine Demand Share Forecast, 2019-2026
10. Middle East & Africa Telemedicine Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Telemedicine Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Telemedicine Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Telemedicine Market: Market Share Analysis
  11.2. Telemedicine Distributors and Customers
  11.3. Telemedicine Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Allscripts Healthcare Solutions Inc.
     11.4.2. BioTelemetry
     11.4.3. Medtronic
     11.4.4. Koninklijke Philips NV

Segments Covered in the Report

The global telemedicine market is segmented on the basis of

Types

  • Telehospitals
  • Telehomes
  • mHealth (Mobile Health)

Services

  • Telepathology
  • Telecardiology
  • Teleradiology
  • Teledermatology
  • Telepsychiatry
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Allscripts Healthcare Solutions Inc.
  • BioTelemetry
  • Medtronic
  • Koninklijke Philips NV

Major players competing in the telemedicine market include Allscripts Healthcare Solutions Inc., BioTelemetry, Medtronic, and Koninklijke Philips NV.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.

Global Telemedicine Market keyplayers

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