Telemedicine Market by Type (Tele-Hospital, Clinic, and Tele Home), By Service (Tele-Consulting, Tele-Monitoring, Tele-Education, and Tele-Training), By Specialty (Dermatology, Cardiology, Gynecology, Neurology, Orthopedics, and Others), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Telemedicine size was accounted at 802.2 billion USD by 2030 growing with a CAGR of 30.5% Moreover 21,466.33 billion.Telemedicine is the remote delivery of healthcare services, such as health assessments or consultations by the use of telecommunication technology. It helps in evaluating, diagnosing and treatment of patient through video conferencing and smart phones.  Telemedicine is categorized into remote patient monitoring, store-and-forward, interactive telemedicine. In addition to this, moderate cost of healthcare delivery services, time saving, efficiency in patient data collection, and report formation are some of the factors positively influencing market growth during the forecast period. According to the research study, telemedicine is providing high quality care of medical services by understanding the customer requirements and provides efficient access to the patients in remote locations by managing financial expenses. Furthermore, development of mobile network connectivity, high speed data services and other forms of wireless communication solutions emerge the market growth in upcoming years.

Market Segmentation:

Telemedicine market is segmented into type, service, specialty and region. Based on type, the telemedicine market is classified into tele-hospital, tele-clinic, and tele-home. Based on service, the market is characterized into tele consulting, tele monitoring, tele education, tele training, and others. Based on specialty, the market is segmented into dermatology, cardiology, gynecology, neurology, orthopedics, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Technological advancements such as smart phone revolution and wireless technology are leading to witness market growth. Moreover, rising chronic diseases, government healthcare initiatives for effective healthcare delivery in remote areas are some of the major driving factors that are positively impacting on market growth. Additionally, neurological market is expected to witness increase in market growth due to telemedicine technology being used in treatment of neuropathy, epilepsy and Parkinson’s diseases. Furthermore, introduction of new technology such as tele ICU, 4G and 5G high speed internet, harvesting sun, and among others are emerging as potential opportunities for market growth in upcoming years. However, cyber securities for patient data sharing, e-prescribing of medications availability of trained manpower, licensing issues are some of the major factors that hamper the market growth.

Geographic Analysis:

Geographically, North America is dominating the market due to raise in technological development, supportive infrastructure, and government initiatives such as primary healthcare, public healthcare and among others. The region dominated with largest market share in terms of revenue in 2019. Asia Pacific is anticipated to witness rapid market growth during the forecast period due to large pool of senescent population, need for home healthcare services, increase in chronic diseases and healthcare delivery in remote areas, infrastructure development and among others.

Competitive Scenario:

Some of the key players of telemedicine industry are Aerotel medical systems Ltd, In touch technologies Inc, AMD global telemedicine Inc, Cerner Corporation, Allscripts healthcare solutions, McKesson Corporation, Biotelemetry Inc, Medtronic Plc, GE Healthcare, Biotelemetry, Medtronic, Aerotel Medical Systems, and Resideo Technologies.

Telemedicine Market Report Scope