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Telemedicine Market Size, Share & Trends Analysis - Global Opportunity Analysis And Industry Forecast 2030

Telemedicine Market Size, Share & Trends Analysis - Global Opportunity...

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Telemedicine Market Size, Share & Trends Analysis - Global Opportunity Analysis And Industry Forecast 2030
Telemedicine Market Size, Share &...
Report Code
RO13/107/2122

Publish Date
05/Jul/2022

Pages
210
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The global telemedicine market size was US$ 38.9 billion in 2021. The global telemedicine market is forecast to grow to US$ 921.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 39% during the forecast period from 2022 to 2030. 
The use of telecommunications networks in the diagnosis and treatment of medical disorders is known as telemedicine. The telemedicine system has the necessary connections for medical imaging. Thus, it can share information with doctors through satellite links in the form of digital data packs. These details can be used by telemedicine doctors to assess medical data and instantaneously prescribe drugs.

Factors Influencing the Market
The telemedicine industry has a huge scope in the coming years. The market is forecast to record significant growth due to rising digitalization in the healthcare sector. 
The rising prevalence of diseases and increasing demand for convenient treatment methods will outline the scope of the global telemedicine market. Further, the benefits of telemedicine, such as convenience, cost and time savings, instant and efficient treatment, will boost the growth of the telemedicine market during the forecast time frame. 
The rising prevalence of infectious diseases will also drive the growth of the telemedicine market. For instance, the recent COVID-19 pandemic has significantly surged the need to adopt remote practices. Growing advancements in the telemedicine industry, such as the introduction of new efficient applications, will propel the telemedicine market forward during the study period. For instance, Philips unveiled its Avalon CL Fetal and Maternal Pod and Patch for remote monitoring in the United States, Europe, Australia, New Zealand, and Singapore in 2019. 
On the flip side, growing cases of data fraud may limit the growth of the global telemedicine market during the study period.

COVID-19 Impact Analysis
The COVID-19 outbreak has significantly raised the demand for healthcare services. Telemedicine, chatbots, and robots have become more prevalent in the last few years. Moreover, telemedine help users gather information, reassure the public, treat patients, make diagnoses, and even develop vaccinations. Moreover, the unfavourable consequences, such as the shortage of hospital beds and healthcare personnel, have significantly driven the demand for telemedicine. Apart from that, travel restrictions forced people to stay at home and have their treatment done remotely. Thus, the pandemic emerged as an opportunity for the global telemedicine market.

Regional Analysis
North America is forecast to hold the highest share in the global telemedicine market, owing to the rising prevalence of chronic diseases. In addition, the fact that telemedicine efficiently reduces healthcare costs will drive the growth of this regional market. The market may also witness lucrative growth opportunities due to the growing senior population and rising cases of chronic illnesses.

Competitors in the Market
• MDlive Inc.
• SteadyMD Inc.
• Maven, Inc.
• iCliniq
• HealthTap, Inc.
• BioTelemetry, Inc.
• American Well
• CVS Health
• Synapse Medicine
• Practo
• Other Prominent Players

Market Segmentation
The global telemedicine market segmentation focuses on Component, Mode of Delivery, Application, End-User, and Region. 
By Component
• Software & services
• Hardware 
By Mode of delivery
• Cloud-based
• On-Premise 
By Application
• Teleradiology
• Tele-consultation
• Tele-ICU
• Tele-stroke
• Tele-psychiatry
• Tele-dermatology
• Other Applications 
By End-User
• Providers
• Payers
• Patients
• Other End Users
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
 

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