Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Telemedicine: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global Telemedicine market, in the wake of the transformative post-COVID-19 business landscape, marked an impressive valuation of US$60.1 Billion in 2022.
As the world continues to adapt to new norms, this market is set to undergo a remarkable transformation, projected to expand to a substantial size of US$523.1 Billion by 2030. This growth trajectory signifies a robust Compound Annual Growth Rate (CAGR) of 31% during the comprehensive analysis period from 2022 to 2030.
The report delves into the various segments, with Software & Services being a focal point. This sector is anticipated to achieve a noteworthy CAGR of 30.3%, culminating in a valuation of US$361.6 Billion by the close of the analysis timeline. In tandem with the ongoing post-pandemic recovery efforts, the Hardware segment's growth outlook has been re-evaluated, now projected to embrace a revised CAGR of 32.9% for the upcoming eight-year span.
In the United States, the Telemedicine market's worth is estimated at US$19.5 Billion in 2022. Meanwhile, China, as the world's second-largest economy, is poised to surge forward, aiming for a projected market size of US$53.8 Billion by 2030. This achievement will be underpinned by a compelling CAGR of 36.9% over the analysis period from 2022 to 2030.
Additional geographic markets of note include Japan and Canada, both projected to exhibit substantial growth rates of 27.1% and 28%, respectively, throughout the 2022-2030 period. Within Europe, Germany is anticipated to sustain a commendable CAGR of approximately 29.8%, reflecting its progressive stance in the global Telemedicine landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 732 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $60.1 Billion |
| Forecasted Market Value (USD) by 2030 | $523.1 Billion |
| Compound Annual Growth Rate | 31.1% |
| Regions Covered | Global |
MARKET OVERVIEW
- Telemedicine - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- A Prelude to Telemedicine
- Telemedicine Advantages
- Types of Procedures Supported by Telemedicine
- Benefits for Patients & Providers
- COVID-19 Expedites Healthcare Ecosystem's Evolution for Better Care & Cost Savings
- Covid-19 Pandemic Accelerates Broader Use of Telemedicine
- Telemedicine Leads Digital Health Investments Driven by Covid-19: Leading Categories of Digital Health by Funding (In US$ Million) for the Year 2020
- Telehealth Visits in the U.S (In Million) for the Year 2020
- COVID-19 Pandemic Catalyzes Migration to New Models of Remote Care Delivery & Boosts Importance of Electronics Subsystems Supporting Smart Wearables: Global Number of Telemedicine Patients (In Million) for the Years 2016, 2018, 2020, 2023 & 2025
- Global Market Prospects and Outlook
- Global Market for Telemedicine Surges amid the Pandemic
- Telemedicine Boom Triggered by COVID-19
- US and Europe Dominate the Global Market, Asia-Pacific to Witness Fastest Growth
- Mobile/web Delivery Segment Dominates the Market
- Hardware Segment Leads the Global Telemedicine Market
- Market Outlook
- Competition
MARKET TRENDS & DRIVERS
- Rapid Evolution in Telecommunication Technology Steers Telemedicine Market
- Aging Population Drives the Market Growth
- Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Increasing Occurrence of Chronic Diseases Drives Telemedicine Market
- Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
- Rising Diabetes Prevalence Presents Opportunity for Telemedicine: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2017 and 2045
- Looming Physician Shortage to Drive the Need for Telemedicine
- Evolving Reimbursement Laws and Policies
- Emerging Trends in Telemedicine
- Emphasis on Telemedicine Widens among Insurance Firms
- Telemedicine Gains Traction among Physicians
- Telehealth in Home Care
- Advanced Technologies and Rapidly Growing Telemedicine
- Smartphones & Cloud Access Bring Forward a Collaborative Foundation
- Remote Patient Monitoring: A Key Benefit of Telemedicine
- Telemedicine in Disaster Management
- Diverse Healthcare Markets Open Up
- Telecardiology Witnesses Increased Popularity
- Telemonitoring Services Gain Grounds
- Decentralization of Healthcare
- Technology Trends in Telecommunication Drives Telemedicine Market
- Video Telemedicine Market Gains Ground
- Developing Countries Healthcare Systems Demand Directions in Video Telemedicine services
- Transforming Remote Health Care Amenities by Increasing Awareness on Video Telemedicine
- Video Chat Applications Garner Acceptance Among Patients in Emergency
- IoMT: The New Healthcare 'Tech' Evolution
- Telemedicine Seeks Role in Home Care & Direct Primary Care
- Increase in Healthcare Spending to Propel Demand
MARKET SEGEMNTS
- Software & Services
- Hardware
- Tele-Radiology
- Tele-Psychiatry
- Tele-Stroke
- Tele-Dermatology
- Tele-Consultation
- Other Applications
- Provider
- Payer
- Patient
- Other End-Uses
- Telemedicine Market Analysis
FOCUS ON SELECT PLAYERS (Total 344 Featured)
- Aerotel Medical Systems Ltd.
- Allscripts Healthcare Solutions, Inc.
- AMD Global
- American Well
- BioTelemetry, Inc
- Cardiocom, LLC
- CISCO Systems
- Doctor On Demand, Inc
- F. Hoffmann-La Roche Ltd
- GlobalMedia Group, LLC.
- InTouch Technologies, Inc
- MDLIVE Inc
- MeMD
- Premier Health Group Inc
- Teladoc Health, Inc
- Telemedicine, Inc.
- TELUS Health
- WELL Health Technologies Corp
MARKET TRENDS & DRIVERS
- Rapid Evolution in Telecommunication Technology Steers Telemedicine Market
- Aging Population Drives the Market Growth
- Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Increasing Occurrence of Chronic Diseases Drives Telemedicine Market
- Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
- Rising Diabetes Prevalence Presents Opportunity for Telemedicine: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2017 and 2045
- Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
- Global Number of New Cancer Cases and Cancer-related Deaths by Cancer Site for 2018
- Looming Physician Shortage to Drive the Need for Telemedicine
- Physicians Density Per 1000 Population in Select Countries (2017)
- Evolving Reimbursement Laws and Policies
- Emerging Trends in Telemedicine
- Emphasis on Telemedicine Widens among Insurance Firms
- Telemedicine Gains Traction among Physicians
- Telehealth in Home Care
- Advanced Technologies and Rapidly Growing Telemedicine
- Smartphones & Cloud Access Bring Forward a Collaborative Foundation
- Smartphone Penetration Rate as Share of Total Population: 2016-2021
- Remote Patient Monitoring: A Key Benefit of Telemedicine
- Telemedicine in Disaster Management
- Diverse Healthcare Markets Open Up
- Telecardiology Witnesses Increased Popularity
- Telemonitoring Services Gain Grounds
- Decentralization of Healthcare
- Technology Trends in Telecommunication Drives Telemedicine Market
- Video Telemedicine Market Gains Ground
- Developing Countries Healthcare Systems Demand Directions in Video Telemedicine services
- Transforming Remote Health Care Amenities by Increasing Awareness on Video Telemedicine
- Video Chat Applications Garner Acceptance Among Patients in Emergency
- IoMT: The New Healthcare 'Tech' Evolution
- Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
- Number of Connected Medical Devices in Million: 2018-2025
- Telemedicine Seeks Role in Home Care & Direct Primary Care
- Increase in Healthcare Spending to Propel Demand
- Current & Required Healthcare Spending as % of GDP
- World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
For more information about this report visit https://www.researchandmarkets.com/r/gtehpa
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