Global Telemedicine Market Size 2020-2027 | To Reach USD 396.76 Billion at a CAGR of 25.8%

Telemedicine Market Key Players Studied in this Report are American Well (Boston, U.S.), MDLIVE Inc. (Sunrise, U.S), Teladoc Health Inc. (Purchase, U.S.), Doctor on Demand Inc. (San Francisco, U.S.), MeMD (Arizona, U.S.), Encounter Telehealth (Nebraska, U.S.), Global Med (Arizona, U.S.), SnapMD (California, U.S.).


Pune, India, Oct. 06, 2021 (GLOBE NEWSWIRE) -- According to the report, Telemedicine Market size is to reach USD 396.76 billion value at a CAGR of 25.8% during forecast period of 2021 To 2027. Telemedicine is used in diverse sectors, which include cardiology, radiology, behavioural health, and others. This will further give rise to new healthcare business models in telemedicine. People around the world prefer virtual consultation as it reduces the cost of other healthcare services such as hospital stays.

Telemedicine services are anticipated to lead the market during the forecast period. Presence of favorable reimbursement policies on teleconsultation is one of the primary factors responsible for the growth of telemedicine services. Other factors such as the entry of new players and increasing adoption of real-time communication devices are driving the telemedicine services segment.


Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/telemedicine-market-101067


Driven by these factors, the telemedicine market size is expected to increase over the projected horizon. Among application, teleradiology is projected to cover leading share in the market. Other segments based on application include teledermatology, telepathology, and telepsychiatry.

Healthcare providers are increasingly adopting Picture Archiving and Communication System or PACS. This system securely stores and transmits electronic images from anywhere in the world. It enables easy transmission of images with the help of Electronic Health Records (EHR).  

From a geographical standpoint, North America is anticipated to emerge dominant in the global telemedicine market. Governments in this region are planning to develop favorable reimbursement policies and practice standards for telemedicine and e-health. This, coupled with increasing patient pool, is boosting the market in North America.


Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/telemedicine-market-101067


The Senate in Florida passed a House Bill 23 in April 2019, establishing standards of practice for telemedicine and telehealth providers. As the aging population is increasing and preference towards telemedicine is rising, the number of e-health visits are increasing exponentially. This will further increase the telemedicine market share in North America.

Artificial intelligence-powered booths in local malls have emerged in the past few years. The system includes a smart medicine cabinet that could dispense more than 100 medications. In November 2018, Ping An Good Doctor announced the launch of a tiny unstaffed clinic that incorporates artificial intelligence. Patients who require immediate consultations can sit in the three-square meter booth and consult with a doctor, which functions through artificial intelligence.

Report Coverage Details
Forecast Period 2020 to 2027
Forecast Period 2020 to 2027 CAGR 25.8%
2027 Value Projection USD 396.76 billion
Base Year 2019
Market Size in 2020 USD 79.79 billion
Historical Data for 2016-2018
No. of Pages 146
Segments covered Type, Modality, Application, End User, and Region
Growth Drivers Significant Reduction in Healthcare Cost Burden to Boost Growth

Technological Advancements to Foster Growth of Market

Major key Players studied in report:

  • American Well (Boston, U.S.)
  • MDLIVE Inc. (Sunrise, U.S)
  • Teladoc Health Inc. (Purchase, U.S.)
  • Doctor on Demand Inc. (San Francisco, U.S.)
  • MeMD (Arizona, U.S.)
  • Encounter Telehealth (Nebraska, U.S.)
  • Global Med (Arizona, U.S.)
  • SnapMD (California, U.S.)


Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/telemedicine-market-101067


Global Telemedicine Market Segmentation:

By Type:

  • Products
  • Services

By Modality:

  • Store-and-forward (Asynchronous)
  • Real-time (Synchronous)

By Application:

  • Teleradiology,
  • Telepathology,
  • Teledermatology,
  • Telecardiology
  • Telepsychiatry

By End User:

  • Healthcare Facilities
  • Homecare

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., 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 Middle East & Africa)


Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/telemedicine-market-101067


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.


Contact Us:

Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs