Overview

Telemedicine market is poised to value USD 243609 million by 2028 end and register an exuberant CAGR at 21.2% during the forecast period of 2022-2028.

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Telemedicine, or telehealth or e-medicine, is the delivery of healthcare services over the telecommunications network, such as exams and consultations. The latest telemedicine features can benefit your practice in a number of ways. The use of telemedicine can reduce medical costs, improve efficiency and profitability, and provide patients with better access to medical services. This will have a positive impact on the telemedicine market and contribute to its growth. The rapid growth of the telemedicine market is primarily due to the increase in chronic diseases such as congestive heart failure, orthopedic injuries, and others. The government's increasing expenditure on healthcare information (HCIT) and key players' increasing focus on digital diagnostics further fuel the market's growth. As a result of continuous advancements in medical diagnostic technologies, the telemedicine market is expected to grow rapidly. Further, the developing prospects in developed countries will provide potential opportunities for the growth of the telemedicine market. In addition to the rapid advances in healthcare, the growing demand for virtual consultations by physicians and patients will accelerate the development of the telemedicine market. There are also significant growth opportunities for the market in the near future. Moreover, the growing number of cancer cases, the increasing workload of healthcare providers, and advances in laboratory diagnostic tests all contribute to the growth of the telemedicine market worldwide. There are, however, two factors that would be catastrophic for the global telemedicine market: a high initial setup cost and an error rate in sampling pathological data.

FutureWise Market Research has instantiated a report that provides an intricate analysis of Telemedicine Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.

According to the research study conducted by FutureWise research analysts, the Telemedicine Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.

Telemedicine players include
TeleVital, AMD Global Telemedicine, Inc. HealthTap, American Well, Maven, InTouch Health, Spruce Health, HealthSpot, Eagle Telemedicine,Allscripts Healthcare Solutions Inc and others.

Impact of COVID-19 on Telemedicine Market:

The necessity for telemedicine has increased with the COVID-19 pandemic as healthcare professionals need to stay disease-free and healthy. The WHO and CDC are promoting telemedicine technology for remote patient monitoring, thereby reducing the risk of virus transmission. The Bergen New Bridge Medical Center, New Jersey, has extended their telehealth services for screening patients for COVID-19. Bergen New Bridge Cares have partnered with Air Visits are now capable of providing patient assessment and urgent care screening of symptomatic patients with the help of a licensed physician. These telehealth screenings are based in the latest evaluation and reporting Persons Under Investigation (PUI) guidelines set up by CDC.
Many telemedicine companies are advancing with times. Companies like Everlywell and PlushCare are planning to release testing kits for COVID-19 that can be used at home and with the rising demand for remote consultation services, these companies are bound to exhibit significant growth over the forecasted timeframe. Other companies like HeyDoctor and Doctor on Demand provide coronavirus risk assessments free of cost. These initiatives can positively impact the growth of the market.

Telemedicine Market Segmentation:

By Component

• Product
o Hardware
o Software
o Others
• Services
o Tele-consulting
o Tele-monitoring
o Tele-education

By Technology

Store and Forward
Real Time
Others

By Application

Teleradiology
Telepsychiatry
Telepathology
Teledermatology
Telecardiology
Others

By Delivery Model

• Web/Mobile
o Telephonic
o Visualized
• Call Centers

By Type

Tele-hospital
Tele-home

By End-use

Providers
Payers
Patients
Others

By Region

Europe
North America
Asia Pacific
Latin America
Middle East and Africa

Telemedicine Market Sample Video:

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on global telemedicine market by component, by technology, by application, by delivery model, by type, by end-use and region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies

Flexible Delivery Model:

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