Telemedicine Market

SKU: DMHCIT216 | Last Updated On: Sep 16 2022 | Available Formats

> Telemedicine Market Expected to reach a high CAGR of 16.8% By 2029:

Telemedicine Market Size Trends Regional Growth Insights-2022

Telemedicine Market size is projected to reach USD billion by 2029, with growth at a CAGR of 16.8% during the forecast period of 2022-2029. Telemedicine is also referred to as telehealth, an increase in rural health issues and hospitalizations, a lack of resources to meet the increased cases, etc., necessitated the growth of the global Telemedicine market. Telemedicine is two-way, real-time interactive communication between a patient and healthcare provider at a different place. This is supported by audio and video equipment along with integrated medical devices and hence enables the clinicians to evaluate, diagnose and treat patients remotely. Studies reveal that over 62 million people lack access to adequate healthcare services. Also, the studies estimate, that by 2020 there will be a shortage of 45,000 primary care providers. Delay in care due to lack of access is leading to health complications. All these factors are necessitating the use of Telemedicine.

North America Telemedicine Market registered an important share in the global market for telemedicine over the forecast period. Factors such as increasing individuals’ health consciousness, growing acceptance of telemedicine in the United States country, improving government tactical initiatives, and the existence of significant companies in the industry are major drivers of the growth of the telemedicine market in North America. In the region, the US Telemedicine market is projected to grow at a CAGR of 10% during the forecast period of 2022-2029.

Impact of the COVID-19 pandemic had a positive effect on the growth of the United States Telemedicine Market, owing to implemented complete lockdown along with strict rules, and observing individual attention and good. According to the research report by country analysis, the Canada telemedicine market is anticipated to produce at a decent growth rate over the period of 2022-2029, owing to the encouraging initiatives by the governments for emergence in the healthcare availability over the country.

The telemedicine market in Europe is projected to control the second highest share in the global market over the forecast period 2022-2029. In the European region, health consultation services will continue the utmost frequently used form of telemedicine doctors use for mounting the break of their health assistance. The United Kingdom is one of the major markets in the Europe region. The United Kingdom telemedicine market is anticipated to produce at a prominent growth rate over the forecast period. Increasing cognizance of telemedicine in every place in the UK, Implementing the quality health services, and investments in the healthcare infrastructures by the government bodies are boosting the demand for the UK Telemedicine Market.

The German Telemedicine market is witness to development constantly over the period of forecast, due to increasing occurrences of long diseases, growing adoption of new technology, and introducing the advanced devices benefit individuals are accelerating the demand for the market for telemedicine in German. As per the research study, the France telemedicine market is to touch the prominent Compound annual growth rate during the period. The major factor for the growth of the market is the emerging economy, and acceptance of telemedicine in France and the growing consciousness of the 4G or 5G technology are recognized to boost the demand for the telemedicine market in France.

Growing the occurrence of cardiovascular and chronic disease is a major factor in the market for telemedicine growth in Spain. As per the study, Spain market for telemedicine is growing quickly compared with the past few decades and it is to have prominent development opportunities in coming years.

Asia Pacific Telemedicine Market size is projected to reach USD billion by 2029, and it will grow at a prominent growth rate during the forecast period. Asia Pacific region is divided into major counties such as China, India, Japan, South Korea, Australia, and Singapore. The growing old age population is a major factor in the growth of the Japan Telemedicine market. Since 2018 telemedicine has been accessible in Japan, but the market share has touched the utmost level owing to the rising COVID cases. In the Asia Pacific region, Japan is one of the few economies providing global medical insurance for all citizens.

China Telemedicine Market will drive the major factors such as growing local physicians, and dieticians by using telemedicine, and the dynamic contribution of the patients will push the telemedicine market growth in China, and the Asia Pacific.

In India, COVID-19 has a prominent impact on the cardiovascular, diabetes, and geriatric population where telemedicine benefits these patients to have excellent treatment methods without visiting clinics or hospitals. The hospitals and local clinics will boost the growth of the Indian market for telemedicine in the coming years.

In South Korea, the government has newly permitted telemedicine on an experimental base. Doctors and nurses recommend simulated visits are the only method to treat patients, and it also decreases the excess spread of COVID-19 in hospitals and clinics. The replies given by the individuals were enormous, and they have originated it harmless these aspects will encourage the market for telemedicine in South Korea.

Telemedicine Market Scope

Metrics

Details

Market CAGR

16.8%

Segments Covered

By Speciality Area, By Type, By End User, By Technology, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Detailed Segmentation Analysis of the Global Market for Telemedicine:

By Speciality Area:

  • Cardiology
  • Dermatology
  • General Surgery
  • Gynecology
  • General Consultation
  • Ophthalmology
  • Orthopedics
  • Neurology
  • Pathology
  • Psychiatry
  • Trauma Care
  • Others

By Type:

  • Mhealth (Mobile Health)
  • Tele Hospitals/Clinics
  • Telephone

By End Users:

  • Clinics
  • Hospitals
  • Patients
  • Others

By Technology:

  • Hardware
  • Software
  • Telecommunications

Some of the Major Companies Leading the Global Market:

The global telemedicine market share is majorly divided among the following players: CareClix, ConsultADoctor, Teladoc, MD, iCliniq, American Well, M drive, MDAligne, state doctors, Doctor on Demand, Specialists On Call and LiveHealth Online. This report gives a profile of all the companies mentioned earlier.

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