This report provides in-depth study on the current state of the Global Telemedicine Market 2019-2026. Key players in the Global Telemedicine Market have been identified through the secondary research and their market share has been determined through primary and secondary research. These include a study of annual and financial reports of top players and extensive interviews of leaders including CEOs, directors, and marketing executives.
Overview of Global Telemedicine Market:
The global market for Telemedicine is expected to surpass US$ 103 Billion by 2026. Telemedicine services are used in several medical areas, such as dermatology, gynecology, cardiology, neurology, diabetes control, psychiatry, primary healthcare and others. The deployment of telemedicine services has significantly changed the healthcare services, due to various technological innovation in the field of medical device and services.
The growing geriatric population coupled with rising prevalence of chronic diseases, dearth of healthcare professional’s worldwide, improvements in telecommunication infrastructure, and need for affordable treatment options due to rising healthcare costs are some of the factors expected to propel the growth of telemedicine market in the coming years. Some of the key factors restricting the growth of telemedicine market include lack of skilled and trained professionals in the remote areas, and privacy and security concern.
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Global Telemedicine Market: Segmentation –
By End Users –
1 Telehospitals/teleclinics holds the largest share among the end users.
2 Telehome segment is estimated to grow at the fastest rate because of the rising inclination towards personalized healthcare.
By Specialty –
1 Dermatology segment captured maximum share of the global telemedicine market.
2 Gynecology is expected to be one of the most revenue generating specialty segment in the telemedicine market.
3 Cardiology is the third largest application of the telemedicine industry.
4 Neurology market segment accounted for over 7% share of the global telemedicine market in 2018.
5 The medical specialties such as the orthopedics, oncology, mental health, internal medicine and emergency care are also witnessing increasing demand for telemedicine services thus fueling the growth of the market.
By Component –
1 In terms of component, the services segment commands the largest share of the global telemedicine market.
2 The hardware segment is predicted to account for over 17% share of the global telemedicine market by 2026.
3 The software segment is expected to witness the highest growth during the forecast period.
By Service Types –
1 Tele-consulting segment held maximum share of the total telemedicine services market.
2 Among the various services of telemedicine, tele-monitoring is expected to grow at the highest rate during forecast period.
3 Tele-education and tele-training segment accounted for combined share of nearly 16% in 2018.
By Region –
1 North America accounted for lion’s share of the total telemedicine market on account of high demand for technologically advanced products.
2 Europe is the second leading market for telemedicine. The rising demand for quality healthcare and the need to curtail escalating government expenditure on healthcare services is expected to push European governments towards adoption of e-health policies.
3 In the coming years, the telemedicine market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on India, China, and Japan.
4 Telemedicine can be particularly useful in Latin America and Middle East & Africa given the uneven distribution of doctors and the significant lack of personnel in rural areas.
Top Leading Key Manufacturers in Global Telemedicine Market: McKesson, Philips Healthcare, GE Healthcare, IBM, Cerner Corporation, Cisco Systems, Medtronic, Allscripts Healthcare, Plantronics, Polycom, BioTelemetry, SHL Telemedicine and others. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Big Industry News:
Cerner (June 04, 2019) – Cerner Calls for App Ideas That Improve Consumer Access to Health Records – Cerner challenges innovators and application developers to advance consumers’ access to electronic health records (EHRs) with the 2019 code App Challenge. Participants will join Cerner’s pursuit of the next groundbreaking advancement, with a focus on helping consumers easily access and understand health records.
Cerner’s 40-year history of innovation and technological developments has helped reduce the complexities of health care and drive breakthrough advancements, directly benefiting providers and consumers. By creating a single patient record with a complete picture of a person’s health and financial information, providers can engage people in meaningful and informed discussions to improve health and well-being. Following health care’s digitization era, the focus is on shaping the future with a person-centered mission that requires joint efforts among developers, technology companies and provider organizations. Cerner’s platforms, technology and culture of openness emphasize the importance of collaboration to advance health care.
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Major Points in Table of Contents:
Global Telemedicine Market Report 2019
1 Executive Summary
2 Global Telemedicine Market and Forecast (2012 – 2026)
3 By End Users – Global Telemedicine Market and Forecast (2012 – 2026)
3.1 Global Telehospitals/Teleclinics Market and Forecast
3.2 Global Telehome Market and Forecast
4 Global Telemedicine Market Share and Forecast (2013 – 2026)
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