According to the report the Global Telemedicine Market is estimated to be USD 35.46 Billion in 2019 and predicted to rise to USD 80.61 billion by 2024 with a CAGR of 17.85%.
The “Global Telemedicine Market Analysis - By Technology (Hardware, Software, Telecommunications), By Service (Remote Patient Monitoring, Store-and-Forward, Real-Time Interactive), By Applications (Tele-Cardiology, Tele-Pathology, Tele-Radiology, Tele-Dermatology, Tele-Neurology, Emergency Care, Home Health), By Delivery Mode (Web-based, Cloud-based), By End User (Tele Hospitals, Tele Homes) & By Region - Global Industry Analysis on Size, Share, Growth, Trends & Forecast | 2019 – 2024” report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc.
Growing Global population, a rising number of chronic diseases and the mounting cost of healthcare services are the crucial drivers for the growth of the global telemedicine market. In addition, factors such as increased use of technology in healthcare conveyance and a shortage of healthcare professionals in rural areas serve as prospects for the growth of the telemedicine market.
On the other side, deficiency of trained and skilled professionals in remote areas, the dearth of consumer awareness about new-fangled technology and its uses are some of the key constraints hindering the growth of the global telemedicine market.
The Tele-Hospitals sector accounted for the highest revenue in 2015, the reason being its relative popularity among the general populace compared to the other segments. However, the Tele-home segment is estimated to grow at the fastest rate because of the rising inclination towards personalized healthcare.
North America accounts for the major share of the Global Telemedicine market. This is owed to increasing awareness with regard to healthcare and the high acceptance of technology in this region. The Asia Pacific Telemedicine market is expected to grow at the highest CAGR in the forecast period. Increasing population, rising income levels and rising incidences of chronic diseases are driving the growth of the market in this region.
The major companies operating in the global telemedicine market are AMD Global Telemedicine, GE Healthcare (U.K.), CISCO Systems, Inc., Medtronic, Inc., Honeywell Lifesciences, Aerotel Medical Systems, Philips healthcare, McKesson Corp, Cerner Corporation, CardioComm.
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