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Pulished Date April, 2021
ID: 8728
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United States Telemedicine Market Research Report - Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast | 2021 to 2026

Pulished: April, 2021
ID: 8728
Pages: 100

Telemedicine Market Size in the United States (2021 to 2026):

The U.S. Telemedicine Market size is predicted to grow at a 14% CAGR from 2021 to 2026 and be worth USD 19.24 billion by 2026. At a global level, the United States is the dominating country in the market. Teledoc Health, Doctor of Demand, and MD LIVE are the top 3 companies in the United States Telemedicine Market.

The Journal of the American Medical Association stated the principal aim of telemedicine is to offer better healthcare and specialty services in the rural places of the United States. As a result, the telemedicine visits in the United States were increased at a CAGR of 261% from 2015 to 2017, which was remarkable and has given colossal scope and encouragement to many companies to operate.

In the U.S., telecommunications has been an enjoyable part of the medical sector as it evaluates diagnosis and treatment procedures for the patients without traveling to the hospitals. It provides care and support for the patients by monitoring frequently and also prescribes drugs. The new telemedicine services include wireless communications systems, which improved the safety of the patients and practitioners.

COVID-19 impact on the U.S. Telemedicine Market:

The virtual healthcare interactions are growing beyond expectations due to COVID-19. The number of virtual care cases is to reach 200 million by the end of 2020 in the U.S. New York and New Jersey are severely affected by COVID-19, and the doctors are offering virtual care appointments for the patients. These are likely to seek more technicians to provide quality services for the patients online.

The U.S. Food and Drug Administration has instructed that veterinarians can use telemedicine to combat coronavirus spread. However, it is also essential to take care of the animals in the pandemic situation, so the FDA has recognized this role and took this initial step forward.

The Health and Human Services (HHS) has changed its policies by allowing patients to use video platforms for medicare. During these conditions, the government has decided to provide new flexibilities for both patients and doctors.   As public health professionals recommend social distancing to contain COVID-19, telehealth services play a vital role in lowering the spread of this disease. As a result, many health insurance issuers are taking significant steps to promote telehealth services without cost-sharing. In addition, HHS released a notification for health providers to strictly maintain the privacy of the patient.  These regulations are to leverage the demand for telehealth in many countries.

MARKET DRIVERS:

Growing spending on healthcare is also one of the factors leveraging the demand of the market. Increasing disposable income in urban areas and increasing awareness over the new applications are outshining the market's need. In addition, the rising adoption of the latest technologies and the launch of innovative techniques in telemedicine drive the market in this region.

Increasing the utilization of smartphones and laptops with awareness over the internet of things is a crucial driving factor for the U.S. telemedicine market to grow. In addition, the rise in the incidences of cancer diseases is adding fuel to the market's demand.

The rise in support from the I.T. sector for the medical industry significantly influences the market's demand. In addition, increasing investments in healthcare centers are to surge growth opportunities for the market.

MAJOR CHALLENGES:

The lack of skilled persons in monitoring the condition of the patients through systems has a hurdle to the market growth. Rapid changes in the software are also hindering the need of the market. Increasing concern towards privacy and safety among people is slowly hampering the development of the telemedicine market in the U.S. 

KEY MARKET PARTICIPANTS:

AMD Global Telemedicine, Inc., American Well, Cisco Systems, Inc., Cerner Corporation, Doctor On Demand, MDLIVE Inc., Honeywell Life Care Solutions, Intouch Health, Medtronic PLC, McKesson Corporation, Siemens Healthineers, Philips Healthcare, Sherpaa Health, SnapMD, Inc. Iris Telehealth, and Teladoc, Inc. are currently dominating the telemedicine market in the United States

Medtronic PLC, one of the leading companies in this market, introduced a division called Medtronic Care Management Services in favor of the United States Department of Veteran Affairs with home telehealth devices and services in 2017.

1. Introduction                                  

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods     

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Analysis Design                         

                2.3 Research Phases                      

                                2.3.1 Secondary Research            

                                2.3.2 Primary Research 

                                2.3.3 Econometric Modelling     

                                2.3.4 Expert Validation  

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 New Developments                

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 By Type                        

                                5.1.1 By Technology       

                                                5.1.1.1 Hardware

                                                5.1.1.2 Software

                                                5.1.1.3 Telecommunications

                                5.1.2 By Service

                                                5.1.2.1 Tele-Monitoring

                                                5.1.2.2 Store-and-Forward

                                                5.1.2.3 Real-Time Interactive

                5.3 By Applications                         

                                5.3.1 Tele-Cardiology    

                                5.3.2 Tele-Radiology      

                                5.3.3 Tele-Pathology     

                                5.3.4 Tele-Dermatology

                                5.3.5 Tele-Neurology    

                                5.3.6  Emergency Care  

                                5.3.7 Home Health          

                                5.3.8 Others      

                5.4 By Delivery Mode                    

                                5.4.1 Web-based            

                                5.4.2 Cloud-based          

                                5.4.3 Others      

                5.5 By End User               

                                5.5.1 Tele-Hospitals       

                                5.5.2 Tele-Homes           

6. Geographical Analysis                                              

                6.1 USA

7. Strategic Analysis                                        

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry      

8. Market Leaders' Analysis                                          

                8.1 GE Healthcare                           

                                8.1.1 Overview

                                8.1.2 Product Analysis   

                                8.1.3 Strategic Evaluation and Operations            

                                8.1.4 Financial analysis  

                                8.1.5 Legal issues            

                                8.1.6 Recent Developments       

                                8.1.7 SWOT analysis       

                                8.1.8 Analyst View          

                8.2 AMD Telemedicine                 

                8.3 CISCO Systems, Inc.                

                8.4 Medtronic, Inc.                         

                8.5 Honeywell Lifesciences                         

                8.6 Aerotel Medical Systems                      

                8.7 Philips healthcare                    

                8.8 McKesson Corp                        

                8.9 Cerner Corporation                 

                8.10 CardioComm                           

9. Competitive Landscape                                            

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures                          

                9.4 New Product Launches                          

10. Expert Opinions                                         

                10.1 Market Outlook                     

                10.2 Investment Opportunities                 

11. Appendix                                           

                a) List of Tables                

                b) List of Figures                         

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. U.S. Telemedicine Market, By Region, From 2021 to 2026 (USD billion)
  2. U.S. Telemedicine Market, By Type, From 2021 to 2026 (USD billion)
  3. U.S. Telemedicine Technology Market, By Region, From 2021 to 2026 (USD billion)
  4. U.S. Telemedicine Services Market, By Region, From 2021 to 2026 (USD billion)
  5. U.S. Telemedicine Market, By Application, From 2021 to 2026 (USD billion)
  6. U.S. Tele-Cardiology Market, By Region, From 2021 to 2026 (USD billion)
  7. U.S. Tele-Radiology Market, By Region, From 2021 to 2026 (USD billion)
  8. U.S. Tele-Pathology Market, By Region, From 2021 to 2026 (USD billion)
  9. U.S. Tele-Dermatology Market, By Region, From 2021 to 2026 (USD billion)
  10. U.S. Tele-Neurology Market, By Region, From 2021 to 2026 (USD billion)
  11. U.S. Emergency Care Market, By Region, From 2021 to 2026 (USD billion)
  12. U.S. Home Health Market, By Region, From 2021 to 2026 (USD billion)
  13. U.S. Other Applications Market, By Region, From 2021 to 2026 (USD billion)
  14. U.S. Telemedicine Market, By Delivery Mode, From 2021 to 2026 (USD billion)
  15. U.S. Web-based Market, By Region, From 2021 to 2026 (USD billion)
  16. U.S. Cloud-based Market, By Region, From 2021 to 2026 (USD billion)
  17. U.S. Other Delivery Modes Market, By Region, From 2021 to 2026 (USD billion)
  18. U.S. Telemedicine Market, By End Users, From 2021 to 2026 (USD billion)
  19. U.S. Tele-Hospitals Market, By Region, From 2021 to 2026 (USD billion)
  20. U.S. Tele-Homes Market, By Region, From 2021 to 2026 (USD billion)
  21. U.S. Telemedicine Technology Market, By Type, From 2021 to 2026 (USD Billion)
  22. U.S. Telemedicine Hardware Market, By Region, From 2021 to 2026 (USD Billion)
  23. U.S. Telemedicine Software Market, By Region, From 2021 to 2026 (USD Billion)
  24. U.S. Telemedicine Telecommunications Market, By Region, From 2021 to 2026 (USD Billion)
  25. U.S. Telemedicine Services Market, By Type, From 2021 to 2026 (USD Billion)
  26. U.S. Tele-Monitoring Market, By Region, From 2021 to 2026 (USD Billion)
  27. U.S. Store & Forward Telemedicine Market, By Region, From 2021 to 2026 (USD Billion)
  28. U.S. Real-time Interactive Telemedicine Market, By Region, From 2021 to 2026 (USD Billion)

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