The scope of this report is broad and covers the components available in the telemedicine market and potential end-user applications. Revenue forecasts from 2022 to 2027 are given for components, applications and end-users with estimated value derived from the revenues of manufacturers.
The report also includes a discussion on the major players in each regional telemedicine market. Further, it explains major drivers and regional dynamics of the global telemedicine market. The report concludes with a look at the vendor landscape and includes detailed profiles of major vendors in the global telemedicine market.
• 47 data tables and 44 additional tables
• An up-to-date review and analysis of the global markets for telemedicine technologies
• Analyses of the global market trends, with historic market revenue (sales data) from 2019 to 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
• Highlights of the current and future market potential for telemedicine technologies, and areas to forecast this market into various segments and sub-segments
• Estimation of the actual market size (value based) for global telemedicine market in USD million terms, market forecast, and corresponding market share analysis by business segment (component), application, end user, and geographic region
• Market assessment of the telemedicine products and technologies currently available, new developments, spending trends, and revenue prospects for this innovation driven market
• Discussion of the telemedicine industry value chain analysis providing a systematic study of the key intermediaries involved, which could further assist stakeholders in formulating appropriate strategies
• Updated information on key developments, mergers and acquisitions (M&A) activities, collaborations, joint ventures and partnerships in the telemedicine industry.
• Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
• Descriptive company profiles of the leading global players, including Allscripts Healthcare Solutions Inc., Boston Scientific Corp., Cerner Corp., Cisco Systems Inc., GE Healthcare, Medtronic, Philips Healthcare and Siemens Healthcare
Telemedicine is the delivery of medical services to any location with the help of advanced telecommunications technology. Telemedicine technology incorporates digital communication and telecommunications technologies to treat patients residing in any location that can be reached by these technologies.
The COVID-19 pandemic has resulted into a global lockdown, which has increased the demand for telehealth services, along with a growing focus on low-cost healthcare services. This has resulted in a growing market for telemedicine. According to the Institute for Health Metrics and Evaluation, global expenditures on healthcare are expected to rise from $REDACTED in 2017 to $REDACTED by 2040. Annual global public spending on health rose by an average REDACTED% from 2000 to 2017. However, it is worth noting that the annual rise has dropped from REDACTED% from 2000 to 2010 to REDACTED% from 2010 to 2017.
Telemedicine has transformed the role of physicians and increased access to health services for patients worldwide. This has led to a greater number of technology startups and increased investments in the telemedicine market.
For instance, in May 2020, American Well raised $REDACTED, to keep up with the escalating demand of telemedicine. In August 2018, MDLive Inc. received financing of $REDACTED from telehealth investor Health Velocity Capital; from partners Health Care Service Corp. (HCSC) and Cigna Corp.; and from contributions from Industry Ventures and Novo Holdings A/S.
In the meantime, the use of connected devices such as smartphones and tablets for real-time patient monitoring and diagnosis is growing rapidly. This trend has led to the improvement in healthcare services and increased patient-care efficiency and data collection. The U.S. spends about REDACTED% of its GDP on healthcare, which could reach by more than $REDACTED with the help of connected devices in diagnostic treatment, chronic disease management and preventive care of the patients.
The global telemedicine market is projected to grow at a CAGR of REDACTED% during the forecast period of 2022 through 2027. In 2027, total revenues are expected to reach $REDACTED, up from $REDACTED in 2020.
This report provides an analysis of each market segment, including components, applications and end users. The businesst segment consists of hardware, software and services. The hardware segment accounted for REDACTED% of the overall telemedicine market in 2021 in terms of revenue. By the end of 2027, total revenue from hardware in the telemedicine market is expected to reach $REDACTED. The software segment is expected to have a CAGR of REDACTED% through the forecast period.
Reasons to Purchase Our Research Report:
• Analyzing the outlook of the market with the recent trends and SWOT analysis
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the market.
• Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
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Table of content
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Whats New in This Update?
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Impact of COVID-19 on the Market
Industry Growth Drivers
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