Overview:

In the year 2018, Global Telemedicine Market was valued at USD 35.46 Billion. By the year 2023, it is expected to reach USD 80.61 Billion at pace of 17.85% CAGR.

Telemedicine is a telecommunication technology for providing remote healthcare services through real-time and two-way communication between the healthcare provider and patient. This technology helps to communicate between medical staff and patients and it is also useful to transmit the health and medical information. Telemedicine plays an important role in saving human lives, during emergencies and critical situations.

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Underlying Causes

Global telemedicine market is driven due to rising prevalence of chronic diseases, growing geriatric population, increasing the adoption of telemedicine at a hospital and clinic, increasing healthcare expenditures, rising funds by government for the development of telemedicine devices, technological advancement in medical device and services, introduction of advanced telemedicine devices. However, some of the factors like lack of skilled professionals, privacy and security concern, and limited availability of telecommunications are affecting the growth rate for Global Telemedicine Market.

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Geographic Segmentation:

Based on geography the Global Telemedicine Market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global telemedicine market due to well-established healthcare infrastructure, increasing healthcare expenditures, growing geriatric population and increasing prevalence of chronic diseases. Asia-Pacific is the fast growing region due to increasing aging population, rising incidence of chronic diseases, improving healthcare facilities, and advancement of technologies in healthcare services are expected to boost the telemedicine market during the forecast period.

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Leading companies for Global Telemedicine Market are Apollo Hospitals (India), 3M, Robert Bosch Healthcare, Neosoft (China), SnapMD (U.S.), Polycom Corp., F. Hoffmann-La Roche Ltd., InTouch Technologies, Inc., LifeWatch AG, OBS Medical Ltd., Siemens Healthcare, Agfa HealthCare NV, Allscripts Healthcare Solutions, Biotelemetry, Inc., AMD Global Telemedicine, GE Healthcare (U.K.), CISCO Systems, Inc., Medtronic, Inc., Honeywell Lifesciences, Aerotel Medical Systems, Philips healthcare, McKesson Corp, Cerner Corporation, and CardioComm.

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