Global Telemedicine Market Expected to Reach Over USD 62.2 Billion By 2025: Zion Market Research

According to the report, the global telemedicine market was USD 23.6 billion in 2018 and is expected to generate around USD 62.2 billion by 2025, at a CAGR of around 14.9% between 2019 and 2025.

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New York, NY, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Telemedicine Market By Service (Tele-Monitoring, Tele-Education, Tele-Consultation, Tele-Surgery, Tele-Care, and Tele-Training) and By Application (Cardiology, Neurology, Dermatology, Emergency Care, Orthopedics, Gynecology, Internal Medicine, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global telemedicine market was USD 23.6 billion in 2018 and is expected to generate around USD 62.2 billion by 2025, at a CAGR of around 14.9% between 2019 and 2025.

Current information and communication technologies, such as the internet, computers, and cellphones are transforming the way people communicate with one another and seek and interchange information. Telemedicine, a concept devised in the 1970s, indicates the use of information technology to offer remote healthcare facilities, such as health consultations or assessments, over a telecommunications setup.

Browse through 37 Tables & 30 Figures spread over 110 Pages and in-depth TOC on “Global Telemedicine Market Size & Share 2018: Industry Growth, Trends, Segments, Market Players and Forecast to 2025”.

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The growing incidences of lifestyle-related chronic diseases, escalating healthcare costs, rising grants and funding by government agencies for telemedicine, increasing number of smartphone consumers, the constant requirement for quality healthcare services, growing demand for self-care in remote locations, and rising geriatric population are major factors driving the growth of the global telemedicine market. The rising popularity of telemedicine in developing regions and increasing investments by major companies in research and development of new technologies are likely to generate new growth opportunities for the telemedicine market players in the future. However, the high risk of privacy violation and stringent security laws may restrict the growth of the global telemedicine market.

The global telemedicine market is fragmented based on service and application. Based on service, the telemedicine market includes tele-care, tele-training, tele-surgery, tele-consultation, tele-education, and tele-monitoring. Tele-consultation is expected to exhibit the fastest growth in the years ahead, owing to the increasing patient demand for early treatment by means of homecare, mobile monitoring, and disease monitoring applications. Tele-education, tele-training, and tele-surgery are recently added in the telemedicine services domain and are expected to exhibit exponential growth in the future.

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The application segment of the telemedicine market comprises internal medicine, neurology, cardiology, dermatology, orthopedics, emergency care, gynecology, and others. Dermatology dominated the market and contributed over 25% revenue share in 2018. Neurology was another leading segment in the telemedicine market in 2018, due to the increasing neurological complications, such as stroke, Alzheimer’s, and Parkinson’s cases. Emergency care and cardiology are other key segments that play an important role in the telemedicine market.

North America will be the leading region in the global telemedicine market in the future, owing to the growing regional implementation of telemedicine, positive government initiatives, rising investments witnessed in communication technology, and the presence of state-of-the-art healthcare facilities. The U.S. is the leading country in the North American telemedicine market, which will register the fastest CAGR over the anticipated timeframe.

Browse the full “Telemedicine Market By Service (Tele-Monitoring, Tele-Education, Tele-Consultation, Tele-Surgery, Tele-Care, and Tele-Training) and By Application (Cardiology, Neurology, Dermatology, Emergency Care, Orthopedics, Gynecology, Internal Medicine, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/telemedicine-market

Europe will be the second-largest market for telemedicine globally, owing to the rapid adoption of 4G and 5G communication technologies, increasing geriatric population, and rising prevalence of different chronic disorders.

The Asia Pacific telemedicine market will grow rapidly over the forecast time period, due to rising government support, ever-increasing population, growing interest in telemedicine, and escalating research and development related to telemedicine applications. India, China, and Japan are expected to majorly drive the growth of the telemedicine market in the Asia Pacific.

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The Latin American telemedicine market will record a moderate growth rate over the assessment time period, due to the growing investments by key players in the region, rising awareness of telemedicine, and favorable initiatives taken by the regional governments. The Middle Eastern and African region is predicted to register a limited rate of growth in the global market for telemedicine, due to lack of awareness about telemedicine across the region.

Some key players of the global telemedicine market are OBS Medical, Medtronic, Siemens Healthcare, Agfa HealthCare, McKesson, CISCO Systems, Polycom, AMD Global Telemedicine, F. Hoffmann-La Roche, Allscripts Healthcare Solutions, Honeywell HomMed, LifeWatch, and InTouch Technologies.

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This report segments the global telemedicine market into:

Global Telemedicine Market: By Service

  • Tele-Monitoring
  • Tele-Education
  • Tele-Consultation
  • Tele-Surgery
  • Tele-Care
  • Tele-Training

Global Telemedicine Market: By Application

  • Cardiology
  • Neurology
  • Dermatology
  • Emergency Care
  • Orthopedics
  • Gynecology
  • Internal Medicine
  • Others

Global Telemedicine Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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