Telemedicine has Strong Market Key Players for 2023

Telemedicine or telehealth comprises of the distribution of health services and information electronically or via telecommunication technologies. It allows clinicians to communicate, advice, educate, monitor and also provide distance-learning to the patients. It also facilitates supervision, and presentations between practitioners; including online information and health data management that is overall healthcare system integration.

The market for telemedicine is growing with an increase in the demand for healthcare services in rural areas, rise in government initiatives to cater the health needs of rural population is an important driver for the market growth. Furthermore, availability of well-developed information technology infrastructure and rising number of medical services provider through telemedicine, boosts the market growth. However, high installation cost of the telemedicine technology solutions may affect the market growth in developing nations across the globe over the corresponding period.

The Global Telemedicine Market is expected grow at a healthy CAGR of 16.5% during the forecast period.

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The Global Telemedicine Market is segmented on the basis of type, which includes store and forward, remote monitoring, and real time interactive.

On the basis of technology, the market is segmented into hardware, software, and services. The hardware is further segmented into on-site kiosks, telephone, and webcams. The software is further segmented into mobiles apps. The Services are further segmented into consultation, online video conferencing and academics.

Furthermore, on the basis of application the market is classified into telecardiology, telepsychiatry, teleradiology, telepathology, teledermatology, teleaudiology, teleopthalmology, and others.

On the basis of end users, the market is segmented into hospitals, clinical, medical institutes, and others.

Key players profiled in the report are Koninklijke Philips N.V. (The Netherlands), Medtronic (Ireland)  AMD Telemedicine Technologies (U.S.), General Electric Company (U.K.), Neusoft Corporation (China), McKesson Corporation (US) , Intel (US), and IBM (US).

Regional Analysis for Global Telemedicine Market:
The global telemedicine market is segmented on the basis of regions namely Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas accounts for the largest share of telemedicine market whose growth is fostered by an increase in the demand for healthcare IT solutions, presence of prominent market players, and availability of infrastructure for medical tourism.

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Europe shows a significant rise in the telemedicine market. The Europe Union (EU) is funding several telemedicine projects to improve the healthcare access to the population through telemedicine technology, for instance, “Revenue Health”, is one of the projects funded by the EU.

Asia Pacific shows phenomenal growth in Telemedicine Market and is expected to the fastest growing region due to rising geriatric population, increasing prevalence of chronic diseases, developing telecommunication technology as well as developing healthcare infrastructure.

The Middle East & Africa is witnessing a steady rise in the telemedicine market owing to the need for tapping unreachable areas by improving technological framework across the region.

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