According to Markntel Advisors Report, Telemedicine Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Telemedicine is a healthcare delivery method that involves the usage of technology, primarily telecommunications, to provide remote medical services & consultations. It enables patients to access medical care, receive diagnoses, consult with healthcare providers, and even receive treatment without the need for in-person visits to a medical facility.
Global Telemedicine Market Research Report & Summary:
The Global Telemedicine Market size was valued at USD 79 Billion in 2023 and is projected to reach USD 275 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 18% during the forecast period, i.e., 2024-30.
Time Period Captured in the Report:
· Historical Years: 2019-22
· Base Years: 2023
· Forecast Years: 2024-2030
Who are the Key Players Operating in the Telemedicine Market?
The top companies of the Telemedicine Market ruling the industry are:
GE Healthcare, AMD, Aerotel, Philips, McKesson Corp, SHL, Polycom, Medtronic Plc, In Touch, Hicuity Health and others
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Telemedicine Industry Recent Development:
· 2023: GE Healthcare announced a partnership with Medanta Group of Hospitals, to offer a 24/7 remote and virtual service for patients in the ICU.
What is Included in Telemedicine Market Segmentation?
The Telemedicine Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Component
-Hardware- Market Size & Forecast 2019-2030, USD Million
-Monitors- Market Size & Forecast 2019-2030, USD Million
-Medical Peripheral Devices (Digital ECG, Digital Stethoscope)- Market Size & Forecast 2019-2030, USD Million
-Software- Market Size & Forecast 2019-2030, USD Million
-Integrated Software- Market Size & Forecast 2019-2030, USD Million
-Standalone Software- Market Size & Forecast 2019-2030, USD Million
-By Service
-Tele-training - Market Size & Forecast 2019-2030, USD Million
-Tele-consultation - Market Size & Forecast 2019-2030, USD Million
-Tele- Surgery- Market Size & Forecast 2019-2030, USD Million
-Tele-monitoring- Market Size & Forecast 2019-2030, USD Million
-Asynchronous (Store-and-Forward)- Market Size & Forecast 2019-2030, USD Million
-By Application
-Tele-radiology- Market Size & Forecast 2019-2030, USD Million
-Tele-Psychiatry- Market Size & Forecast 2019-2030, USD Million
-Tele-Cardiology- Market Size & Forecast 2019-2030, USD Million
-Tele-Dermatology- Market Size & Forecast 2019-2030, USD Million
-Tele-Neurology- Market Size & Forecast 2019-2030, USD Million
-Tele-Pathology- Market Size & Forecast 2019-2030, USD Million
-Emergency Care- Market Size & Forecast 2019-2030, USD Million
-Others (Tele-Nephrology, Tele-Obstetrics, etc.) - Market Size & Forecast 2019-2030, USD Million
-By End User
-Hospitals- Market Size & Forecast 2019-2030, USD Million
-Home Care- Market Size & Forecast 2019-2030, USD Million
-Clinics & Specialty Centers - Market Size & Forecast 2019-2030, USD Million
-Others (Medical Labs, etc.) - Market Size & Forecast 2019-2030, USD Million
-By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Market Dynamics -Global Telemedicine Market:
Rising Demand for Telemedicine in Chronic Disease Management – The management of chronic diseases is a critical healthcare challenge as the global prevalence of conditions like diabetes, hypertension, and heart disease continues to rise. Telemedicine plays a pivotal role in addressing this issue, and a brief market analysis underscores its impact. Telemedicine enables continuous monitoring of chronic conditions through the usage of remote patient monitoring devices and digital health platforms. This allows healthcare providers to track patients' vital signs, medication adherence, and lifestyle behaviors in real time.
As a result, patients receive timely interventions, reducing the risk of complications and hospital readmissions. This improves patient outcomes and lowers healthcare costs by reducing the burden of emergency care. Furthermore, the convenience and accessibility of telemedicine facilitate better patient engagement in their care. Due to this, the demand for telemedicine among patients with chronic conditions has been increasing in the market.
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