Telemedicine is the delivery of medical services to any location with the help of advanced telecommunications technology. Telemedicine technology incorporates digital communication and telecommunications technologies to treat patients residing in any location that can be reached by these technologies.
The COVID-19 pandemic has resulted into a global lockdown, which has increased the demand for telehealth services, along with a growing focus on low-cost healthcare services. This has resulted in a growing market for telemedicine.
Telemedicine has transformed the role of physicians and increased access to health services for patients worldwide. This has led to a greater number of technology startups and increased investments in the telemedicine market.
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ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.
AMD GLOBAL TELEMEDICINE
AMERICAN WELL CORP.
BOSTON SCIENTIFIC CORP.
CISCO SYSTEMS INC.
IRON BOW TECHNOLOGIES
Medvivo Group Ltd.
RESIDEO LIFE CARE SOLUTIONS
TELADOC HEALTH INC.
For instance, in May 2020, American Well raised to keep up with the escalating demand of telemedicine. In August 2018, MDLive Inc. received financing from telehealth investor, Health Velocity Capital; from partners Health Care Service Corp. (HCSC) and Cigna Corporation; and from contributions from Industry Ventures and Novo Holdings A/S. All such financing and fundraising is having a positive influence in the market growth.
In the meantime, the use of connected devices such as smart phones and tablets for real-time patient monitoring and diagnosis is growing rapidly. This trend has led to the improvement in healthcare services and increased patient-care efficiency and data collection.
The global telemedicine market is projected to grow at a CAGR of 19.1% during the forecast period of 2019-2024. In 2024, total revenues are expected to reach more than $104 Billion, up from $43.2 Bn in 2019.
This report provides an analysis of each market segment, including components, applications, and end users. The component segment consists of hardware, software and services. The hardware segment of the telemedicine market, by 2024, total revenue from hardware in the telemedicine market is expected to reach higher in Billion. However, the software segment is expected to have a slightly higher CAGR, by 2024, than hardware.
The scope of this report is broad and covers the components available in the telemedicine market and potential end-user applications. Revenue forecasts from 2019 to 2024 are given for components, applications and end-users with estimated value derived from the revenues of manufacturers.
The report also includes a discussion on the major players in each regional telemedicine market. Further, it explains major drivers and regional dynamics of the global telemedicine market. The report concludes with a look at the vendor landscape and includes detailed profiles of major vendors in the global telemedicine market.
– 49 data tables and 42 additional tables
– An overview of the global markets for telemedicine technologies within the industry
– Analyses of the global market trends, with data corresponding to market size for 2018 and 2019, and projections of compound annual growth rates (CAGRs) through 2024
– Discussion of market opportunities and challenges, and highlights of the new telemedicine products and technologies influencing the demand for adoption of innovative medical technology
– Information pertaining to the impact of COVID-19 pandemic on the growth of the telemedicine market
– Industry value chain analysis of the telemedicine market providing a systematic study of the key intermediaries involved, which could further assist stakeholders in formulating appropriate strategies
– Key merger and acquisition deals, partnerships, collaborations and joint ventures as well as other strategic alliances in the global telemedicine market
– Market share analysis of the key market participants and their research priorities and competitive landscape
– Detailed company profiles of the major global corporations, including AMD Global Telemedicine, Boston Scientific Corp., GE Healthcare, Medtronic, Inc., Resideo Life Care Solutions and Siemens Healthcare
Table of Contents
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Market Breakdown by End User
Chapter 5 Market Breakdown by Application
Chapter 6 Market Breakdown by Component
Chapter 7 Market Breakdown by Region
Chapter 8 Telemedicine Industry Structure
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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