As per a study conducted by P&S Intelligence, the global telemedicine market is predicted to reach a value of $144.2 billion by 2030, increasing from $27.8 billion in 2019, progressing at a 15.8% CAGR during 2020–2030. The market is registering growth due to the surging geriatric population, rising healthcare cost, rising need for remote patient monitoring services in emerging economies, surging prevalence of chronic diseases, expanding medical tourism industry, rising government grants and initiatives for telemedicine.
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On the basis of services, the telemedicine market is divided into tele consulting, tele training, tele monitoring, tele education, and others. Among all these, the tele monitoring division is predicted to witness the highest CAGR in the years to come due to the rising cases of lifestyle-related and chronic diseases across the globe. Healthcare providers can effectively manage the health of patients and prevent complications and exacerbations by utilizing tele monitoring. This results in reductions in rehospitalizations.
The objective of this research includes;
North America has been leading the telemedicine market up till now, owing to the increasing aging population, presence of major players, and initiatives that are being taken by non-government and government organizations for funding and offering grants for telemedicine. The U.S. government has grown its telehealth consultations to about 62 million Medicare beneficiaries. Such actions are meant to decrease the health risks for citizens and to remove previous barriers.
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The key players operating in the market are Honeywell International Inc., Medtronic plc, Cisco Systems Inc., Cerner Corporation (Cerner), McKesson Corporation, Aerotel Medical Systems Ltd., Koninklijke Philips N.V. (Philips), Teladoc Health Inc., Care innovations LLC, OBS Medical Ltd., AMD Global Telemedicine Inc., Allscripts Healthcare Solutions Inc., Plantronics Inc., BioTelemetry Inc., and GlobalMedia Group LLC.
The research includes detailed analysis of;
Based on Type
Based on Service
Based on Specialty
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