Telemedicine Market | 2021 Size, Share, Growth Insights, Trends, Opportunity, Key Players, Revenue, Competitive Landscape, Regional Analysis And Global Industry Forecast To 2027is latest study published by Fortune Business Insights. The Global Telemedicine market expected to rise at 25.8% CAGR and reach USD 396.76 Billion value by 2027. Telemedicine Industry is segmented By Type (Products and Services), By Modality (Store-and-forward (Asynchronous), Real-time (Synchronous), and Others), By Application (Teleradiology, Telepathology, Teledermatology, Telecardiology, Telepsychiatry, and Others), By End User (Healthcare Facilities and Homecare), and Regional Forecast, 2020-2027.
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Telemedicine Major Key Players Analyzed In Report:
HDR, HKS, Stantec, Jacobs Engineering Group, CannonDesign, NBBJ, Perkins+Will and Smith Group., among others.
Global Telemedicine Market Highlights:
Healthcare costs have risen dramatically as the incidence of chronic illnesses and out-of-pocket spending has increased. According to CMS, healthcare spending in the United States rose by 4.6 percent in 2018, hitting USD 3.6 trillion, or USD 11,172 per individual. Furthermore, healthcare expenses were a financial burden for 34% of the population in 2017, with 11% seeing those costs as a household budget constraint. Moreover, machine learning algorithms-based apps can aid in the diagnosis of diseases like cancer, COVID-19, rare diseases, and others. For instance, the UAE Ministry of Health began collaborating with telecom operators to create its first virtual hospitals in March 2020. As a result, increased investment in virtual hospitals is expected to boost the telemedicine industry.
The global telemedicine market size is expected to reach USD 396.76 billion by 2027, exhibiting a CAGR of 25.8% during the forecast period. The increasing adoption and accessibility of digital health technologies will accelerate the telemedicine market growth in the forthcoming years, states Fortune Business Insights, in a report, titled “Telemedicine Market Size, 2020-2027.” The market size stood at USD 41.63 billion in 2019.
The Telemedicine Market report offers an in-depth analysis of the Telemedicine industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Telemedicine market concentration, and maturity analysis is elaborated in this report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
The abrupt arrival of the COVID-19 pandemic has resulted in a massive disruption of the world’s economy. The pressure on healthcare workers is growing as hospitals fill up with positive COVID-19 patients. In addition, the cancellation and postponement of elective procedures and appointments have reduced patient capacity in clinics and hospitals. This necessitates physicians’ adoption of telemedicine. The market for digital health services and teleconsultations is at an all-time high, owing to the current normal of social disconnection. In the fight against the outbreak, telehealth has occurred as a potent tool. The majority of virtual visit providers are reporting a significant rise in customer and subscriber numbers. For instance, in just three months from January to March 2020, Teladoc Health Inc. announced a 60 percent rise in virtual consultations, reaching 2 million, compared to 2019.
The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Telemedicine Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
The market is divided into products and services based on type. The services sector is projected to account for the lion’s share in the telemedicine industry. Telemedicine significantly cuts the time it takes to get a consultation or a referral. One of the main reasons for the growing number of hospitals offering or deploying e-consultation services is that the services sector gains traction.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
The market is divided into three types of modalities: real-time, store-and-forward (S&F), and others. Because of the dramatic increase in the number of e-visits, the real-time segment is projected to expand at a profitable pace. In 2018, 32.1 percent of physicians in the United States used an on-demand virtual care provider, according to the On-demand Virtual Care Benchmark Survey. This is likely to boost the growth of the segment.
It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for Telemedicine market to figure out and study the market’s needs, market size, and competition.
Regional Analysis:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
In 2019, the North American market stood at USD 17.90 billion. The presence of major players such as Teladoc, MDLive, and others will boost the market in the region. The strong government support and high need for teleconsultations are factors aiding growth in the region. In the United States, doctors’ willingness to use telehealth increased from 57 percent in 2015 to 69 percent in 2019. This is according to the Amwell Physician Survey. Europe is expected to be the second-largest market, owing to improved government standards for the utilization of digital healthcare and the increasing cases of chronic illnesses. According to the British Skin Foundation, 100,000 new cases of skin disease are diagnosed in the United Kingdom each year. This places a financial strain on the nation.
This report focuses on Telemedicine Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2027, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
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Telemedicine Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market
Competitive Analysis And Industry News:
Major companies in the global Telemedicine Market are increasingly focusing on research and development activities to create new and innovative products to stay ahead of the competition. Staying on top of market trends & drivers is crucial for decision-makers to hold this emerging opportunity. The study provides information on market trends and development, drivers, capacities, technologies, and the changing investment structure of the Telemedicine Industry.
Key questions answered in the report:
- What will the market growth rate of Telemedicine Market in 2027?
- What are the key factors driving the global Telemedicine Market?
- Who are the key manufacturers in Telemedicine Market space?
- What are the market opportunities, market risk and market overview of the Telemedicine Global market?
- What are sales, revenue, and price analysis of top manufacturers of Telemedicine Global market?
- What are sales, revenue, and price analysis by types and applications of Telemedicine Market?
- What are sales, revenue, and price analysis by regions of Telemedicine market?
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Table Of Content:
1 Market Overview
1.1 Telemedicine Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.4.1 North America (United States, Canada and Mexico)
1.4.1.1 United States Market States and Outlook (2020-2027)
1.4.1.2 Canada Market States and Outlook (2020-2027)
1.4.1.3 Mexico Market States and Outlook (2020-2027)
1.4.2 Europe (Germany, France, UK, Russia and Italy)
1.4.2.1 Germany Market States and Outlook (2020-2027)
1.4.2.2 France Market States and Outlook (2020-2027)
1.4.2.3 UK Market States and Outlook (2020-2027)
1.4.2.4 Russia Market States and Outlook (2020-2027)
1.4.2.5 Italy Market States and Outlook (2020-2027)
1.4.3 Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
1.4.3.1 China Market States and Outlook (2020-2027)
1.4.3.2 Japan Market States and Outlook (2020-2027)
1.4.3.3 Korea Market States and Outlook (2020-2027)
1.4.3.4 India Market States and Outlook (2020-2027)
1.4.3.5 Southeast Asia Market States and Outlook (2020-2027)
1.4.4 South America, Middle East and Africa
1.4.4.1 Brazil Market States and Outlook (2020-2027)
1.4.4.2 Egypt Market States and Outlook (2020-2027)
1.4.4.3 Saudi Arabia Market States and Outlook (2020-2027)
1.4.4.4 South Africa Market States and Outlook (2020-2027)
1.4.4.5 Turkey Market States and Outlook (2020-2027)
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force
2 Manufacturers Profiles
3 Global Telemedicine Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
3.1 Global Telemedicine Sales and Market Share by Manufacturer (2017-2018)
3.2 Global Telemedicine Revenue and Market Share by Manufacturer (2017-2018)
3.3 Market Concentration Rate
3.3.1 Top 3 Telemedicine Manufacturer Market Share in 2018
3.3.2 Top 6 Telemedicine Manufacturer Market Share in 2018
3.4 Market Competition Trend
4 Global Telemedicine Market Analysis by Regions
4.1 Global Telemedicine Sales, Revenue and Market Share by Regions
4.1.1 Global Telemedicine Sales and Market Share by Regions (2020-2027)
4.1.2 Global Telemedicine Revenue and Market Share by Regions (2020-2027)
4.2 North America Telemedicine Sales and Growth Rate (2020-2027)
4.3 Europe Telemedicine Sales and Growth Rate (2020-2027)
4.4 Asia-Pacific Telemedicine Sales and Growth Rate (2020-2027)
4.5 South America Telemedicine Sales and Growth Rate (2020-2027)
4.6 Middle East and Africa Telemedicine Sales and Growth Rate (2020-2027)
5 North America Telemedicine by Country
5.1 North America Telemedicine Sales, Revenue and Market Share by Country
5.1.1 North America Telemedicine Sales and Market Share by Country (2020-2027)
5.1.2 North America Telemedicine Revenue and Market Share by Country (2020-2027)
5.2 United States Telemedicine Sales and Growth Rate (2020-2027)
5.3 Canada Telemedicine Sales and Growth Rate (2020-2027)
5.4 Mexico Telemedicine Sales and Growth Rate (2020-2027)
8 South America Telemedicine by Country
8.1 South America Telemedicine Sales, Revenue and Market Share by Country
8.1.1 South America Telemedicine Sales and Market Share by Country (2020-2027)
8.1.2 South America Telemedicine Revenue and Market Share by Country (2020-2027)
8.2 Brazil Telemedicine Sales and Growth Rate (2020-2027)
8.3 Argentina Telemedicine Sales and Growth Rate (2020-2027)
8.4 Colombia Telemedicine Sales and Growth Rate (2020-2027)
9 Middle East and Africa Telemedicine by Countries
9.1 Middle East and Africa Telemedicine Sales, Revenue and Market Share by Country
9.1.1 Middle East and Africa Telemedicine Sales and Market Share by Country (2020-2027)
9.1.2 Middle East and Africa Telemedicine Revenue and Market Share by Country (2020-2027)
9.2 Saudi Arabia Telemedicine Sales and Growth Rate (2020-2027)
9.3 Turkey Telemedicine Sales and Growth Rate (2020-2027)
9.4 Egypt Telemedicine Sales and Growth Rate (2020-2027)
9.5 Nigeria Telemedicine Sales and Growth Rate (2020-2027)
10 Telemedicine Market In Developing Countries
11 South America Telemedicine Market Analysis by Countries
12 Competitive Landscape
13 Industry Outlook
13.1 Market Driver Analysis
13.1.2 Market Restraints Analysis
13.1.3 Market Trends Analysis
13.2 Merger, Acquisition and New Investment
13.3 News of Product Release
14 Global Telemedicine Market Forecast
15 New Project Feasibility Analysis
15.1 Industry Barriers and New Entrants SWOT Analysis
15.1.1 Porter’s Five Forces Analysis
15.1.2 New Entrants SWOT Analysis
15.2 Analysis and Suggestions on New Project Investment
Continued…
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