Pune, Jan. 28, 2020 (GLOBE NEWSWIRE) -- The global Telemedicine Market size is expected to reach USD 185.66 billion by 2026, exhibiting a CAGR of 23.5% in the forecast period. The advancement in information and technology will contribute positively to the growth of the market. In addition, the increasing number of e-visits, expansion of telemedicine in areas of radiology, cardiology, behavioral health, and others will create new sales opportunities for the Telemedicine Market in the forthcoming years, states the lead analysts at Fortune Business Insights.
According to the report, published by Fortune Business Insights, titled “Telemedicine Market Size, Share & Industry Analysis by Type (Products, Services), By Application (Teleradiology, Telepathology, Teledermatology, Telepsychiatry, Telecardiology, Others), By Modality (Store-and-forward (Asynchronous), Real-time (Synchronous), Others), By End User (Healthcare Facilities, Homecare), and Regional Forecast 2019-2026” the market size stood at USD 34.28 billion.
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The Telemedicine Market focuses on demonstrating a complete assessment of the market. It contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology. It offers valuable insights into all the notable developments of the market. It shares a complete overview of all the segments & parts of the market and also provides statistical data on all the regions. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and industry developments.
Launch of Solo by InTouch to Spur Business Opportunities
InTouch, a virtual healthcare company announced a new telehealth product called Solo that is a fully equipped, end-to-end care platform. Solo is able to integrate scheduling, eligibility confirmation, e-prescriptions, patient surveys, payments, and digital signatures. A number of major EHR platforms such as Epic, Allscripts, and Cerner are able to integrate with the technology. The launch of the new platform is expected to bolster the healthy growth of the market during the forecast period owing to its design, which can accommodate multiple settings including direct-to-consumer, direct-to-patient, provider-to-provider, clinics, worksites and emergency departments. Furthermore, Solo will be run through the InTouch Network and will include an updated interface for telemedicine visits, IT integrations and care coordination. Moreover, the partnership between Comcast and Independence Health Group for the development of new patient care and communication platform will boost the Telemedicine Market share. For instance, Comcast, an American telecommunications conglomerate headquartered in Philadelphia, Pennsylvania partnered with Independence Health Group, a global leader that offers a wide range of services including commercial, Medicare and Medicaid medical coverage, third-party benefits administration, and pharmacy benefits management, for the development of new patient care and communication platform.
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Improved Reimbursement Policies to Speed up Expansion in North America
North America generated a revenue of USD 14.6 billion in 2018 and is expected to remain dominant during the forecast period owing to the strong government support for the establishment of improved practice standards in healthcare. The improvement in reimbursement policies is expected to boost the growth in North America further. For instance, the Florida Senate passed House Bill 23, in order to standardize the telehealth and telemedicine practices. In addition, the strategic presence of major players in this region and the rising number of e-visits is expected to augment the Telemedicine Market growth in North America. Moreover, the rising adoption of telemedicine applications and the emergence of mobile technology along with burgeoning demand for smartphones will contribute significantly to the growth of the market.
Some of the Major Companies in the Telemedicine Market Include:
- American Well
- GlobalMed
- Teladoc Health, Inc.
- MeMD
- InTouch Technologies, Inc.
- Doctor On Demand, Inc.
- MDLIVE Inc.
- Encounter Telemedic
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of Telemedicine Services
- Reimbursement Scenario - For Key Countries
- Overview of Telemedicine Policies - For Key Countries
- Technological Advancements in Telemedicine Market
- Startups with their Funding Overview
- Key industry Developments - Mergers, Acquisitions and Partnerships
- Global Telemedicine Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Products
- Services
- Market Analysis, Insights and Forecast – By Application
- Teleradiology
- Telepathology
- Teledermatology
- Telepsychiatry
- Telecardiology
- Others
- Market Analysis, Insights and Forecast – By Modality
- Store-and-forward (Asynchronous)
- Real-time (Synchronous)
- Others
- Market Analysis, Insights and Forecast – By End User
- Healthcare Facilities
- Homecare
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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