Posted by How Big is The Telemedicine Market?
IMARC Group, a leading market research company, has recently releases report titled “Telemedicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global telemedicine market size reached US$ 59.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 218.0 Billion by 2028, exhibiting a growth rate (CAGR) of 21.9% during 2023-2028.
What is Telemedicine Market?
Telemedicine is a telecommunication technology to provide remote healthcare services. It allows patients to consult with healthcare professionals without the need for in-person visits. It provides convenience and easy access to medical consultations, diagnosis, treatment, and monitoring from home. It assists in eliminating geographical barriers and reducing the need for unnecessary hospital visits. Besides this, it aids in lowering the overall healthcare costs and improving the satisfaction of patients. As it saves time and offers quicker diagnosis and treatment solutions to individuals, the demand for telemedicine is rising across the globe.
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What are the growth prospects and trends in the Telemedicine industry?
Presently, the increasing prevalence of various chronic diseases, such as diabetes and cancer, among the masses worldwide represents one of the primary factors contributing to the market growth. Additionally, the increasing demand for telemedicine, as it improves access to healthcare services, reduces waiting times, and enhances convenience, is strengthening the growth of the market. Apart from this, the growing adoption of digitalization in healthcare, along with the rising acceptance of telemedicine by patients and healthcare professionals, is positively influencing the market. Moreover, the increasing integration of artificial intelligence (AI) and machine learning (ML) algorithms in telemedicine platforms enables automated diagnosis, remote monitoring, and personalized treatment plans, is bolstering the growth of the market. Furthermore, the rising demand for remote healthcare services among the masses around the world is supporting the growth of the market.
Who are the key players operating in the industry?
The major players in the market are
- Aerotel Medical Systems (1998) Ltd.
- Allscripts Healthcare Solutions Inc.
- AMD Global Telemedicine Inc.
- American Well Corporation
- Cigna Corporation
- Cisco Systems Inc.
- Doxy.me Inc.
- HealthTap Inc.
- PlushCare Inc. (Accolade Inc.)
- SHL Telemedicine
- SOC Telemed Inc. (Patient Square Capital)
- Teladoc Health Inc. and Twilio Inc.
What is included in market segmentation?
The report has been segmented the market into following categories:
Breakup by Component:
- Product
- Hardware
- Software
- Others
- Services
- Tele-consulting
- Tele-monitoring
- Tele-education
Breakup by Modality:
- Real-time
- Store and Forward
- Others
Breakup by Delivery Mode:
- Web/Mobile
- Audio/Text-based
- Visualized
- Call Centers
Breakup by Facility:
- Tele-hospital
- Tele-home
Breakup by Application:
- Teledermatology
- Teleradiology
- Telepsychiatry
- Telepathology
- Telecardiology
- Others
Breakup by End User:
- Providers
- Payers
- Patients
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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