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Telemedicine Market

Telemedicine Market
  • MMC001370
  • Category: Healthcare & Life Sciences
  • Oct.2021
  • Publisher id : Meridian Market Consultants
  • No. of pages : 231
  • Rating :
  • Format : PDF,PPT

    
    
    


  • Report Description
  • Table Of Content
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Telemedicine Market Overview

The report is titled as ‘Telemedicine Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the telemedicine market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The telemedicine market is expected to grow at a significant rate in the near future.

The global telemedicine market is estimated to reach at a value of US$ 57.0 Bn by the end of 2020 and expected to reach at a value of US$ 316.5 Bn by 2028 with a significant CAGR of 24.1%

Telemedicine Market Definition

There are numerous developed and developing countries across the world who are still deprived of the cost-effective, high-quality, and accessible healthcare services. Fortunately, information and communication technologies (ICTs), in the present-day world, comprises great potential to acknowledge some of the major challenges witnessed by both emerging and established nations in providing appropriate healthcare services.

Basically, telemedicine is the delivery of healthcare services and the sharing of healthcare information across distances for diagnosis, treatment and prevention of disease and injuries, research and evaluation, and for the invariable education of healthcare providers.

Telemedicine should not be misunderstood with a new technology or a novel branch of medicine, as it is just the way medical practitioners adopted ICTs to overcome geographical barriers as well as elevate access to healthcare services. Telemedicine is most useful for underserved or rural regions, groups and communities across the world which majorly suffer from shortage of access to healthcare. Telemedicine could also be perceived as an upfront and continually evolving science, as it embodies latest modifications in technology and retorts and alters with the dynamic health needs and contexts of societies.

Telemedicine Market Dynamics

The revolutionizing healthcare industry, worldwide, as well as adoption of advanced technologies to deliver superior quality healthcare services all across the world is majorly driving the growth of the global telemedicine market. Initially, a series of basic electronic inventions made the emergence of telemedicine possible, such as the telephone that have created communication and technology a crucial part of our day to day lives.

Attributing to which, the modified technique of telehealth or telemedicine is established which allows medical practitioners and patients to get connected electronically and share medical services directly that may be thousands of miles away. Such beneficial factors further promote the growth of the global telemedicine market in the near future. In addition, there is a rising need to expand healthcare access across the globe, owing to the increasing prevalence of chronic ailments and medical conditions among the masses, which further acts as a positive factor for the growth of the global telemedicine market in the forthcoming years.

Moreover, the continuously surging population, globally, as well as lack of medical professionals and physicians also stimulate the demand of telehealth or telemedicine so that health providers can deliver their services from a faraway distance too over an electronic network. In addition to that, in the wake of the global pandemic of COVID-19, the need for healthcare access has increased exponentially, which massively compelled the healthcare industry to adopt advanced technologies to provide their services all across the world, and it is expected to continue providing their services electronically. Owing to which, the global telemedicine market is projected to rise higher over the forecast period. Furthermore, there has been constant support from the government for R&D and further advancements in telecommunications, which is also anticipated to positively fuel the growth of the global telemedicine market in the given timeframe.

Apart from that, telemedicine also creates value for patients by cutting off patient’s wait and travel time, escalating the reach of healthcare services, and encouraging the capacity for 24/7 coverage. This makes telemedicine and its potential an appealing outlook for consumers who care about those values and is likely to elevate customer satisfaction. Therefore, the global telemedicine market is estimated to grow rapidly in the coming years.

Telemedicine Market Segmentation

The global telemedicine market is segmented on the basis of component, mode of delivery, application, end-user and regions. On the basis of the component, the telemedicine market is segmented into Software & services and Hardware. On the basis of mode of delivery, the market is segmented into Cloud-based and On-Premise. Further, the telemedicine market is segmented on the basis of application into Teleradiology, Tele-consultation, Tele-ICU, Tele-stroke, Tele-psychiatry, Tele-dermatology, and Other Applications. Furthermore, the market is segmented on the basis of end-user into Providers, Payers, Patients, and Other End Users.

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

Latin America

Africa

Europe

Asia Pacific

Middle East

Telemedicine Market Key Players

The global telemedicine market is dominated by Koninklijke Philips N.V., Medtronic, GE Healthcare. Other prominent players in this market include Cerner Corporation, Siemens Healthineers, Cisco Systems, Inc., Teladoc Health Inc., American Well, AMC Health, MDLive, Doctor on Demand, Medvivo Group Ltd, Asahi Kasei Corporation, Iron Bow Technologies, Telespecialists Llc, GlobalMed, MedWeb, IMediplus Inc., Vsee, Chiron Health, Zipnosis, among others.

MMC Overview on Telemedicine Market Report

The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.

A research report on the telemedicine market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Telemedicine

Advantages of Telemedicine

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.

1.    Global Telemedicine Market Report Overview

1.1.    Introduction

1.2.    Report Description

1.3.    Methodology

2.    Global Telemedicine Market Overview

2.1.    Introduction

2.1.1.    Market Definition

2.1.2.    Market Taxonomy

2.2.    Executive Summary

2.3.    Global Telemedicine Market Snapshot

2.4.    Global Telemedicine Market Size And Forecast, 2020–2028

2.4.1.    Introduction

2.4.2.    Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)

2.5.    Global Telemedicine Market Dynamics

2.5.1.    Drivers

2.5.2.    Restraints

2.5.3.    Opportunity

2.5.4.    Trends

2.6.    Porter’s Five Forces Model

2.7.    SWOT Analysis

3.    Telemedicine Assessment and Analysis

3.1.    Telemedicine Impact Analysis 

3.2.    Actions to encourage use of Telemedicine

3.3.    Telemedicine Promotional Strategy Recommendation

3.4.    Road Map Analysis

3.5.    GAP Analysis

3.6.    Potential Analysis

4.    Covid-19 Impact on Telemedicine Market

4.1.    Impact Analysis of Covid-19 on the global Telemedicine market

4.2.    Effect On Value Chain

4.3.    Business Impact W.R.T Revenue 

4.4.    Fluctuation in Production

4.5.    Volatility in Price 

4.6.    Effect On The Overall Trade 

4.7.    Market Impact Analysis In 2020 (Quarter Wise)

5.    Global Telemedicine Market, By Component

5.1.    Introduction

5.1.1.    Annual Growth Rate Comparison, By Component

5.1.2.    BPS Analysis, By Component

5.2.    Market Revenue (US$Mn) and Forecast, By Component

5.2.1.    Software & services

5.2.2.    Hardware

5.3.    Global Telemedicine Market Attractiveness Index, By Component

6.    Global Telemedicine Market, By Mode of Delivery

6.1.    Introduction

6.1.1.    Annual Growth Rate Comparison, By Mode of Delivery

6.1.2.    BPS Analysis, By Mode of Delivery

6.2.    Market Revenue (US$Mn) and Forecast, By Mode of Delivery

6.2.1.    Cloud-Based

6.2.2.    On-Premise

6.3.    Global Telemedicine Market Attractiveness Index, By Mode of Delivery

7.    Global Telemedicine Market, By Application

7.1.    Introduction

7.1.1.    Annual Growth Rate Comparison, By Application

7.1.2.    BPS Analysis, By Application

7.2.    Market Revenue (US$Mn) and Forecast, By Application

7.2.1.    Teleradiology

7.2.2.    Tele-consultation

7.2.3.    Tele-ICU

7.2.4.    Tele-stroke

7.2.5.    Tele-psychiatry

7.2.6.    Tele-dermatology

7.2.7.    Other Applications

7.3.    Global Telemedicine Market Attractiveness Index, By Application

8.    Global Telemedicine Market, By End-User

8.1.    Introduction

8.1.1.    Annual Growth Rate Comparison, By End-User

8.1.2.    BPS Analysis, By End-User

8.2.    Market Revenue (US$Mn) and Forecast, By End-User

8.2.1.    Providers

8.2.2.    Payers

8.2.3.    Patients

8.2.4.    Other End Users

8.3.    Global Telemedicine Market Attractiveness Index, By End-User

9.    Global Telemedicine Market, By Region

9.1.    Introduction

9.1.1.    Annual Growth Rate Comparison, By Region

9.1.2.    BPS Analysis, By Region

9.2.    Market Revenue (US$Mn) and Forecast, By Region

9.2.1.    North America

9.2.2.    Latin America

9.2.3.    Europe

9.2.4.    Asia Pacific

9.2.5.    Middle East 

9.2.6.    Africa

9.3.    Global Telemedicine Market Attractiveness Index, By Region

10.    North America Telemedicine Market Analysis and Forecast, 2020–2028

10.1.    Introduction

10.1.1.    Annual Growth Rate Comparison, By Country

10.1.2.    BPS Analysis, By Country

10.2.    Market Revenue (US$Mn) and Forecast, By Country

10.2.1.    U.S. Telemedicine Market

10.2.2.    Canada Telemedicine Market

10.3.    North America Telemedicine Market, By Component

10.3.1.    Software & services

10.3.2.    Hardware

10.4.    North America Telemedicine Market, By Mode of Delivery

10.4.1.    Cloud-Based

10.4.2.    On-Premise

10.5.    North America Telemedicine Market, By Application

10.5.1.    Teleradiology

10.5.2.    Tele-consultation

10.5.3.    Tele-ICU

10.5.4.    Tele-stroke

10.5.5.    Tele-psychiatry

10.5.6.    Tele-dermatology

10.5.7.    Other Applications

10.6.    North America Telemedicine Market, By End-User

10.6.1.    Providers

10.6.2.    Payers

10.6.3.    Patients

10.6.4.    Other End Users

10.7.    North America Telemedicine Market Attractiveness Index

10.7.1.    By Country

10.7.2.    By Component

10.7.3.    By Mode of Delivery

10.7.4.    By Application

10.7.5.    By End-User

11.    Latin America Telemedicine Market Analysis and Forecast, 2020–2028

11.1.    Introduction

11.1.1.    Annual Growth Rate Comparison, By Country

11.1.2.    BPS Analysis, By Country

11.2.    Market (US$Mn) Forecast, By Country

11.2.1.    Brazil Telemedicine Market

11.2.2.    Mexico Telemedicine Market

11.2.3.    Rest Of Latin America Telemedicine Market

11.3.    Latin America Telemedicine Market, By Component

11.3.1.    Software & services

11.3.2.    Hardware

11.4.    Latin America Telemedicine Market, By Mode of Delivery

11.4.1.    Cloud-Based

11.4.2.    On-Premise

11.5.    Latin America Telemedicine Market, By Application

11.5.1.    Teleradiology

11.5.2.    Tele-consultation

11.5.3.    Tele-ICU

11.5.4.    Tele-stroke

11.5.5.    Tele-psychiatry

11.5.6.    Tele-dermatology

11.5.7.    Other Applications

11.6.    Latin America Telemedicine Market, By End-User

11.6.1.    Providers

11.6.2.    Payers

11.6.3.    Patients

11.6.4.    Other End Users

11.7.    Latin America Telemedicine Market Attractiveness Index

11.7.1.    By Country

11.7.2.    By Component

11.7.3.    By Mode of Delivery

11.7.4.    By Application

11.7.5.    By End-User

12.    Europe Telemedicine Market Analysis and Forecast, 2020–2028

12.1.    Introduction

12.1.1.    Annual Growth Rate Comparison, By Country

12.1.2.    BPS Analysis, By Country

12.2.    Market (US$Mn) Forecast, By Country

12.2.1.    U.K. Telemedicine Market

12.2.2.    Germany Telemedicine Market

12.2.3.    Italy Telemedicine Market

12.2.4.    France Telemedicine Market

12.2.5.    Spain Telemedicine Market

12.2.6.    Russia Telemedicine Market

12.2.7.    Rest Of Europe Telemedicine Market

12.3.    Europe Telemedicine Market, By Component

12.3.1.    Software & services

12.3.2.    Hardware

12.4.    Europe Telemedicine Market, By Mode of Delivery

12.4.1.    Cloud-Based

12.4.2.    On-Premise

12.5.    Europe Telemedicine Market, By Application

12.5.1.    Teleradiology

12.5.2.    Tele-consultation

12.5.3.    Tele-ICU

12.5.4.    Tele-stroke

12.5.5.    Tele-psychiatry

12.5.6.    Tele-dermatology

12.5.7.    Other Applications

12.6.    Europe Telemedicine Market, By End-User

12.6.1.    Providers

12.6.2.    Payers

12.6.3.    Patients

12.6.4.    Other End Users

12.7.    Europe Telemedicine Market Attractiveness Index

12.7.1.    By Country

12.7.2.    By Component

12.7.3.    By Mode of Delivery

12.7.4.    By Application

12.7.5.    By End-User

13.    Asia Pacific Telemedicine Market Analysis and Forecast, 2020–2028

13.1.    Introduction

13.1.1.    Annual Growth Rate Comparison, By Country

13.1.2.    BPS Analysis, By Country

13.2.    Market (US$Mn) Forecast, By Country

13.2.1.    China Telemedicine Market

13.2.2.    India Telemedicine Market

13.2.3.    Japan Telemedicine Market

13.2.4.    Australia and New Zealand Telemedicine Market

13.2.5.    South Korea Telemedicine Market

13.2.6.    Rest of Asia Pacific Telemedicine Market

13.3.    Asia Pacific Telemedicine Market, By Component

13.3.1.    Software & services

13.3.2.    Hardware

13.4.    Asia Pacific Telemedicine Market, By Mode of Delivery

13.4.1.    Cloud-Based

13.4.2.    On-Premise

13.5.    Asia Pacific Telemedicine Market, By Application

13.5.1.    Teleradiology

13.5.2.    Tele-consultation

13.5.3.    Tele-ICU

13.5.4.    Tele-stroke

13.5.5.    Tele-psychiatry

13.5.6.    Tele-dermatology

13.5.7.    Other Applications

13.6.    Asia Pacific Telemedicine Market, By End-User

13.6.1.    Providers

13.6.2.    Payers

13.6.3.    Patients

13.6.4.    Other End Users

13.7.    Asia Pacific Telemedicine Market Attractiveness Index

13.7.1.    By Country

13.7.2.    By Component

13.7.3.    By Mode of Delivery

13.7.4.    By Application

13.7.5.    By End-User

14.    Middle East Telemedicine Market Analysis and Forecast, 2020–2028

14.1.    Introduction

14.1.1.    Annual Growth Rate Comparison, By Country

14.1.2.    BPS Analysis, By Country

14.2.    Market (US$Mn) Forecast, By Country

14.2.1.    GCC Countries Telemedicine Market

14.2.2.    Israel Telemedicine Market

14.2.3.    Rest Of Middle East Telemedicine Market

14.3.    Middle East Telemedicine Market, By Component

14.3.1.    Software & services

14.3.2.    Hardware

14.4.    Middle East Telemedicine Market, By Mode of Delivery

14.4.1.    Cloud-Based

14.4.2.    On-Premise

14.5.    Middle East Telemedicine Market, By Application

14.5.1.    Teleradiology

14.5.2.    Tele-consultation

14.5.3.    Tele-ICU

14.5.4.    Tele-stroke

14.5.5.    Tele-psychiatry

14.5.6.    Tele-dermatology

14.5.7.    Other Applications

14.6.    Middle East Telemedicine Market, By End-User

14.6.1.    Providers

14.6.2.    Payers

14.6.3.    Patients

14.6.4.    Other End Users

14.7.    Middle East Telemedicine Market Attractiveness Index

14.7.1.    By Country

14.7.2.    By Component

14.7.3.    By Mode of Delivery

14.7.4.    By Application

14.7.5.    By End-User

15.    Africa Telemedicine Market Analysis and Forecast, 2020–2028

15.1.    Introduction

15.1.1.    Annual Growth Rate Comparison, By Country

15.1.2.    BPS Analysis, By Country

15.2.    Market (US$Mn) Forecast, By Country

15.2.1.    South Africa Countries Telemedicine Market

15.2.2.    Egypt Telemedicine Market

15.2.3.    North Africa Telemedicine Market

15.2.4.    Rest of Africa Telemedicine Market

15.3.    Africa Telemedicine Market, By Component

15.3.1.    Software & services

15.3.2.    Hardware

15.4.    Africa Telemedicine Market, By Mode of Delivery

15.4.1.    Cloud-Based

15.4.2.    On-Premise

15.5.    Africa Telemedicine Market, By Application

15.5.1.    Teleradiology

15.5.2.    Tele-consultation

15.5.3.    Tele-ICU

15.5.4.    Tele-stroke

15.5.5.    Tele-psychiatry

15.5.6.    Tele-dermatology

15.5.7.    Other Applications

15.6.    Africa Telemedicine Market, By End-User

15.6.1.    Providers

15.6.2.    Payers

15.6.3.    Patients

15.6.4.    Other End Users

15.7.    Africa Telemedicine Market Attractiveness Index

15.7.1.    By Country

15.7.2.    By Component

15.7.3.    By Mode of Delivery

15.7.4.    By Application

15.7.5.    By End-User

16.    Competitive Landscape

16.1.    Company Profiles

16.1.1.    Koninklijke Philips N.V.

16.1.1.1.    Company Overview

16.1.1.2.    Financial Overview

16.1.1.3.    Key Developments

16.1.1.4.    Strategies

16.1.1.5.    Product Analysis

16.1.2.    Zipnosis

16.1.3.    Medtronic

16.1.4.    GE Healthcare

16.1.5.    Cerner Corporation

16.1.6.    Siemens Healthineers

16.1.7.    Cisco Systems, Inc.

16.1.8.    Teladoc Health Inc.

16.1.9.    American Well

16.1.10.    AMC Health

16.1.11.    MDLive

16.1.12.    Doctor on Demand

16.1.13.    Medvivo Group Ltd

16.1.14.    Asahi Kasei Corporation

16.1.15.    Iron Bow Technologies

16.1.16.    Telespecialists Llc

16.1.17.    GlobalMed

16.1.18.    MedWeb

16.1.19.    IMediplus Inc.

16.1.20.    Vsee

16.1.21.    Chiron Health

17.    Acronyms

Frequently Asked Questions

  • What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
    The global telemedicine market is estimated to reach at a value of US$ 57.0 Bn by the end of 2020 and expected to reach at a value of US$ 316.5 Bn by 2028 with a significant CAGR of 24.1%
  • What are the key factors driving the growth of market?
    The revolutionizing healthcare industry as well as adoption of advanced technologies to deliver superior quality healthcare services all across the world is majorly driving the growth of the global telemedicine market
  • What segments are covered in market report?
    The global telemedicine market is segmented on the basis of component, mode of delivery, application, end-user and regions.
  • What are the key participating players in the market?
    The key participating players in global telemedicine market are Koninklijke Philips N.V., Medtronic, GE Healthcare. Other prominent players in this market include Cerner Corporation, Siemens Healthineers, Cisco Systems, Inc., Teladoc Health Inc., American Well, AMC Health, MDLive, Doctor on Demand, Medvivo Group Ltd, Asahi Kasei Corporation, Iron Bow Technologies, Telespecialists Llc, GlobalMed, MedWeb, IMediplus Inc., Vsee, Chiron Health, Zipnosis, among others.