Telemedicine Market - Global Industry Analysis

Telemedicine Market - By Service (Tele-Monitoring, Tele-Education, Tele-Consultation, Tele-Surgery, Tele-Care, and Tele-Training) and By Application (Cardiology, Neurology, Dermatology, Emergency Care, Orthopedics, Gynecology, Internal Medicine, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020–2026

Published Date: 05-Aug-2019 Category: Healthcare Report Format : PDF Pages: 110 Report Code: ZMR-1324 Status : Published

Global Telemedicine market, which was estimated at 25(USD Billion) in 2019 and is predicted to accrue earnings worth 64 (USD Billion) by 2026, is set to record a CAGR of nearly 14.9% over 2020-2026.

Description

Telemedicine Market: Overview

The global Telemedicine market, which was estimated at 25(USD Billion) in 2019 and is predicted to accrue earnings worth 64 (USD Billion) by 2026, is set to record a CAGR of nearly 14.9% over 2020-2026. The report offers a valuation and analysis of the Telemedicine market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Telemedicine Market: Introduction

Telemedicine is referred to as healthcare service delivery to distant sites. The surge in the number of website visits and rapid use of telemedicine in the fields of cardiology, radiology, and behavioral therapies will create massive product penetration across the globe. A prominent rise in COVID cases and chronic disorders is likely to result in large-scale adoption of telemedicine solutions over the ensuing years.  Furthermore, telemedicine helps in reducing patient costs as well as healthcare service provider costs.

Global Telemedicine Market

Telemedicine Market: Growth Dynamics

The growing need for reducing healthcare expenditure and increasing the proficiency of chronic disease management activities will promulgate the elevation of the telemedicine industry over the forecasting timeline. Furthermore, the necessity of reducing travel periods, reducing hospital stays, and sharing health professional staffing will prop up the business space within the next few years. Apparently, a bulging surge in the global population along with rising in the requirement of improving healthcare access as well as breakthroughs in the telecom sector will propel the industry size over the assessment timeline.

Moreover, huge government support and a rise in the penetration of the internet, smartphone, and tablets across both emerging economies as well as developed regions will fuel the market proceeds in the years to come. Nonetheless, strict laws and the occurrence of fraud along with data breaches can put brakes on the industry's growth over the upcoming timeframe. However, the introduction of strong firewalls securing the message encryption & decryption between individuals over the web will increase the use of telemedicine, thereby annulling the negative impact of the hindrances on the market growth in the coming decade.

North America Likely To Be Global Market Leader By 2026

The expansion of the market in North America over the estimated timespan is due to escalating health awareness coupled with large-scale penetration of cloud technologies in the countries like the U.S. and Canada. In addition to this, the 3rise in the incidences of chronic ailments among the aging population along with the need for reducing overcrowding at clinics has resulted in massive market penetration. Additionally, the growing focus of healthcare service providers to reduce healthcare expenses has resulted in market expansion in the sub-continent in the current years.

Key participants profiled in the report are F. Hoffmann-La Roche, and OBS Medical, LifeWatch, Medtronic, Siemens Healthcare, Honeywell HomMed, Agfa HealthCare, Allscripts Healthcare Solutions, McKesson, CISCO Systems, Polycom, AMD Global Telemedicine, InTouch Technologies.

This report segments the global telemedicine market into:

Global Telemedicine Market: By Service

  • Tele-Monitoring
  • Tele-Education
  • Tele-Consultation
  • Tele-Surgery
  • Tele-Care
  • Tele-Training

Global Telemedicine Market: By Application

  • Cardiology
  • Neurology
  • Dermatology
  • Emergency Care
  • Orthopedics
  • Gynecology
  • Internal Medicine
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of The Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Telemedicine Market, 2016-2025 (USD Billion)
    • 2.2. Global Telemedicine Market: Snapshot
  •  
  • Chapter 3. Telemedicine Market - Industry Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Growing incidence of lifestyle-related chronic diseases
      • 3.2.2. Escalating healthcare costs
    • 3.3. Market restraints
      • 3.3.1. High risk of privacy violation
      • 3.3.2. Stringent security laws
    • 3.4. Opportunities
      • 3.4.1. The rapid uptake of 4G and 5G communication technologies
      • 3.4.2. The rising popularity of telemedicine in developing regions
    • 3.5. Porter's Five Forces Analysis
    • 3.6. Market attractiveness analysis
      • 3.6.1. Market attractiveness analysis, by Service
      • 3.6.2. Market attractiveness analysis, by Application
      • 3.6.3. Market attractiveness analysis, by Region
  •  
  • Chapter 4. Global Telemedicine Market - Competitive Landscape
    • 4.1. Company Market Share Analysis
      • 4.1.1. Global Telemedicine Market: company market share, 2018
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations, and Joint Ventures
      • 4.2.4. Research and Development and Regional Expansion
  •  
  • Chapter 5. Global Telemedicine Market - Service Analysis
    • 5.1. Global Telemedicine Market: Service overview
      • 5.1.1. Global Telemedicine Market share, by Service, 2018 and 2025
    • 5.2. Tele-Monitoring
      • 5.2.1. Global Telemedicine Market for Tele-Monitoring, 2016-2025 (USD Billion)
    • 5.3. Tele-Education
      • 5.3.1. Global Telemedicine Market for Tele-Education, 2016-2025 (USD Billion)
    • 5.4. Tele-Consultation
      • 5.4.1. Global Telemedicine market for Tele-Consultation, 2016-2025 (USD Billion)
    • 5.5. Tele-Surgery
      • 5.5.1. Global Telemedicine market for Tele-Surgery, 2016-2025 (USD Billion)
    • 5.6. Tele-Care
      • 5.6.1. Global Telemedicine market for Tele-Care, 2016-2025 (USD Billion)
    • 5.7. Tele-Training
      • 5.7.1. Global Telemedicine market for Tele-Training, 2016-2025 (USD Billion)
  •  
  • Chapter 6. Global Telemedicine Market - Application Analysis
    • 6.1. Global Telemedicine Market: Application overview
      • 6.1.1. Global Telemedicine Market share, by Application, 2018 and 2025
    • 6.2. Cardiology
      • 6.2.1. Global Telemedicine market for Cardiology, 2016-2025 (USD Billion)
    • 6.3. Neurology
      • 6.3.1. Global Telemedicine market for Neurology, 2016-2025 (USD Billion)
    • 6.4. Dermatology
      • 6.4.1. Global Telemedicine market for Dermatology, 2016-2025 (USD Billion)
    • 6.5. Emergency Care
      • 6.5.1. Global Telemedicine market for Emergency Care, 2016-2025 (USD Billion)
    • 6.6. Orthopedics
      • 6.6.1. Global Telemedicine market for Orthopedics, 2016-2025 (USD Billion)
    • 6.7. Gynecology
      • 6.7.1. Global Telemedicine market for Gynecology, 2016-2025 (USD Billion)
    • 6.8. Internal Medicine
      • 6.8.1. Global Telemedicine market for Internal Medicine, 2016-2025 (USD Billion)
    • 6.9. Others
      • 6.9.1. Global Telemedicine Market for Others, 2016-2025 (USD Billion)
  •  
  • Chapter 7. Global Telemedicine Market - Regional Analysis
    • 7.1. Global Telemedicine Market: Regional overview
      • 7.1.1. Global Telemedicine Market share, by region, 2018 and 2025
    • 7.2. North America
      • 7.2.1. North America Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
      • 7.2.2. North America Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.2.3. The U.S.
        • 7.2.3.1. The U.S. Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.2.3.2. The U.S. Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.2.4. Rest of North America
        • 7.2.4.1. Rest of North America Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.2.4.2. Rest of North America Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
    • 7.3. Europe
      • 7.3.1. Europe Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
      • 7.3.2. Europe Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.3.3. Germany
        • 7.3.3.1. Germany Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.3.3.2. Germany Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.3.4. U.K.
        • 7.3.4.1. U.K. Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.3.4.2. U.K. Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.3.5. France
        • 7.3.5.1. France Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.3.5.2. France Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.3.6. Rest of Europe
        • 7.3.6.1. Rest of Europe Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.3.6.2. Rest of Europe Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
      • 7.4.2. Asia Pacific Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.4.3. China
        • 7.4.3.1. China Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.4.3.2. China Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.4.4. Japan
        • 7.4.4.1. Japan Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.4.4.2. Japan Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.4.5. India
        • 7.4.5.1. India Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.4.5.2. India Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.4.6. Rest of Asia Pacific
        • 7.4.6.1. Rest of Asia Pacific Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.4.6.2. Rest of Asia Pacific Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
    • 7.5. Latin America
      • 7.5.1. Latin America Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
      • 7.5.2. Latin America Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.5.3.2. Brazil Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
      • 7.5.4. Rest of Latin America
        • 7.5.4.1. Rest of Latin America Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
        • 7.5.4.2. Rest of Latin America Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
    • 7.6. The Middle East and Africa
      • 7.6.1. The Middle East and Africa Telemedicine Market Revenue, by Service, 2016-2025 (USD Billion)
      • 7.6.2. The Middle East and Africa Telemedicine Market Revenue, by Application, 2016-2025 (USD Billion)
  •  
  • Chapter 8. Company Profile
    • 8.1. OBS Medical
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Drug Services portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. Medtronic
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Drug Services portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. Siemens Healthcare
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Drug Services portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. Agfa HealthCare
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Drug Services portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. McKesson Corp.
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Drug Services portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent developments
    • 8.6. CISCO Systems
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Drug Services portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. Polycom
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Drug Services portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. AMD Global Telemedicine
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Drug Services portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments
    • 8.9. F. Hoffmann-La Roche
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Drug Services portfolio
      • 8.9.4. Business strategy
      • 8.9.5. Recent developments
    • 8.10. Allscripts Healthcare Solutions
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Drug Services portfolio
      • 8.10.4. Business strategy
      • 8.10.5. Recent developments
    • 8.11. Honeywell HomMed
      • 8.11.1. Overview
      • 8.11.2. Financials
      • 8.11.3. Drug Services portfolio
      • 8.11.4. Business strategy
      • 8.11.5. Recent developments
    • 8.12. LifeWatch
      • 8.12.1. Overview
      • 8.12.2. Financials
      • 8.12.3. Drug Services portfolio
      • 8.12.4. Business strategy
      • 8.12.5. Recent developments
    • 8.13. InTouch Technologies
      • 8.13.1. Overview
      • 8.13.2. Financials
      • 8.13.3. Drug Services portfolio
      • 8.13.4. Business strategy
      • 8.13.5. Recent developments

Table Of Figures

List of Figures

1. Market research process
2. Market research methodology
3. Global Telemedicine Market, 2016–2025 (USD Billion)
4. Porter’s Five Forces Analysis
5. Telemedicine Market attractiveness analysis, by Service
6. Telemedicine Market attractiveness analysis, by Application
7. Telemedicine: Market attractiveness analysis, by Region
8. Company market share analysis, 2018
9. Global Telemedicine Market revenue share by Service, 2018 and 2025
10. Global Telemedicine Market for Tele-Monitoring, 2016–2025 (USD Billion)
11. Global Telemedicine Market for Tele-Education, 2016–2025 (USD Billion)
12. Global Telemedicine market for Tele-Consultation, 2016–2025 (USD Billion)
13. Global Telemedicine market for Tele-Surgery, 2016–2025 (USD Billion)
14. Global Telemedicine market for Tele-Care, 2016–2025 (USD Billion)
15. Global Telemedicine market for Tele-Training, 2016–2025 (USD Billion)
16. Global Telemedicine Market by Application, 2018 and 2025
17. Global Telemedicine Market for Cardiology, 2016–2025 (USD Billion)
18. Global Telemedicine Market for Neurology, 2016–2025 (USD Billion)
19. Global Telemedicine market for Dermatology, 2016–2025 (USD Billion)
20. Global Telemedicine market for Emergency Care, 2016–2025 (USD Billion)
21. Global Telemedicine market for Orthopedics, 2016–2025 (USD Billion)
22. Global Telemedicine market for Gynecology, 2016–2025 (USD Billion)]
23. Global Telemedicine market for Internal Medicine, 2016–2025 (USD Billion)
24. Global Telemedicine Market for Others, 2016–2025 (USD Billion)
25. Global Telemedicine Market by Region, 2018 and 2025
26. North America Telemedicine Market, 2016–2025 (USD Billion)
27. Europe Telemedicine Market, 2016–2025 (USD Billion)
28. Asia Pacific Telemedicine Market, 2016–2025 (USD Billion)
29. Latin America Telemedicine Market, 2016–2025 (USD Billion)
30. The Middle East and Africa Telemedicine Market, 2016–2025 (USD Billion)


Table Of Tables

List of Tables

1. Telemedicine Market: Snapshot
2. Drivers of global Telemedicine Market: Impact analysis
3. Restraints of global Telemedicine Market: Impact analysis
4. North America Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
5. North America Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
6. The U.S. Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
7. The U.S. Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
8. Rest of North America Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
9. Rest of North America Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
10. Europe Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
11. Europe Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
12. Germany Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
13. Germany Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
14. U.K. Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
15. U.K. Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
16. France Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
17. France Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
18. Rest of Europe Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
19. Rest of Europe Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
20. Asia Pacific Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
21. Asia Pacific Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
22. China Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
23. China Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
24. Japan Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
25. Japan Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
26. India Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
27. India Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
28. Rest of Asia Pacific Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
29. Rest of Asia Pacific Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
30. Latin America Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
31. Latin America Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
32. Brazil Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
33. Brazil Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
34. Rest of Latin America Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
35. Rest of Latin America Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)
36. The Middle East and Africa Telemedicine Market Revenue, by Service, 2016–2025 (USD Billion)
37. The Middle East and Africa Telemedicine Market Revenue, by Application, 2016–2025 (USD Billion)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Telemedicines market. Zion Research has collected and analyzed key data belong to the global Telemedicine market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Telemedicine across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Telemedicine industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Telemedicine market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Telemedicine is the remote conveyance of healthcare facilities, such as health consultations or assessments, over a telecommunications setup. Telemedicine permits long-distance patient/clinician interaction and care, guidance, reminders, tutoring, intervention, and nursing. Telemedicine can overcome the dearth of transport, lack of movement, financial constraints, and even lack of employment. Telemedicine is a sub-category of telehealth, which includes non-clinical features of a healthcare organization and remote medical service transfer.

The growing incidences of lifestyle-related chronic diseases, escalating healthcare costs, rising grants and funding by government agencies for telemedicine, increasing number of smartphone consumers, constant requirement for quality healthcare services, growing demand for self-care in remote locations, and rising geriatric population are major factors driving the growth of the global telemedicine market. The rapid adoption of 4G and 5G communication technologies, rising popularity of telemedicine in developing regions, and increasing investments by major companies in research and development of new technologies are likely to generate new growth opportunities for the telemedicine market players in the future. However, the high risk of privacy violation and stringent security laws may restrict the growth of the global telemedicine market.

Global Telemedicine Market

The global telemedicine market is fragmented based on service and application. Based on service, the telemedicine market includes tele-care, tele-training, tele-surgery, tele-consultation, tele-education, and tele-monitoring. Tele-consultation is expected to exhibit the fastest growth in the years ahead, owing to the increasing patient demand for early treatment by means of homecare, mobile monitoring, and disease monitoring applications. Tele-education, tele-training, and tele-surgery are recently added in the telemedicine services domain and are expected to exhibit exponential growth in the future. The application segment of the telemedicine market comprises internal medicine, neurology, cardiology, dermatology, orthopedics, emergency care, gynecology, and others. Dermatology dominated the market and contributed over 25% revenue share in 2018. Neurology was another leading segment in the telemedicine market in 2018, due to the increasing neurological complications, such as stroke, Alzheimer’s, and Parkinson’s cases. Emergency care and cardiology are other key segments that play an important role in the telemedicine market.

North America will be the leading region in the global telemedicine market in the future, owing to the growing regional implementation of telemedicine, positive government initiatives, rising investments witnessed in communication technology, and the presence of state-of-the-art healthcare facilities. Europe will be the second-largest market for telemedicine globally, owing to the rapid adoption of 4G and 5G communication technologies, increasing geriatric population, and rising prevalence of different chronic disorders. The Asia Pacific telemedicine market will grow rapidly over the forecast time period, due to rising government support, ever-increasing population, growing interest in telemedicine, and escalating research and development related to telemedicine applications.

Some key players of the global telemedicine market are OBS Medical, Medtronic, Siemens Healthcare, Agfa HealthCare, McKesson, CISCO Systems, Polycom, AMD Global Telemedicine, F. Hoffmann-La Roche, Allscripts Healthcare Solutions, Honeywell HomMed, LifeWatch, and InTouch Technologies.

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FrequentlyAsked Questions

Growing need for reducing healthcare expenditure and increase the proficiency of chronic disease management activities will promulgate the elevation of telemedicine industry over the forecasting timeline. Furthermore, necessity of reducing travel period, reducing of hospital stays, and sharing of health professional staffing will prop up the business space within the next few years. Apparently, a bulging surge in global population along with rise in the requirement of improving healthcare access as well as breakthroughs in telecom sector will propel the industry size over the assessment timeline. Moreover, huge government support and rise in the penetration of internet, smartphone, and tablets across both the emerging economies as well as developed regions will fuel the market proceeds in the years to come.

According to Zion market research report, the global Telemedicine market, which was estimated at 25(USD Billion) in 2019 and is predicted to accrue earnings worth 64 (USD Billion) by 2026, is set to record a CAGR of nearly 14.9% over 2020-2026.

North America is likely to make noteworthy contributions towards overall market revenue during forecast timeframe. The regional market growth over 2020-2026 can be credited to escalating health awareness coupled with large-scale penetration of cloud technologies in the countries like the U.S. and Canada. In addition to this, rise in the incidences of chronic ailments among the aging population along with need for reducing overcrowding at clinics has resulted in massive market penetration. Additionally, growing focus of the healthcare service providers to reduce healthcare expenses has resulted in the market expansion in the sub-continent in the current years.

The key players profiled in the report include F. Hoffmann-La Roche, and OBS Medical, LifeWatch, Medtronic, Siemens Healthcare, Honeywell HomMed, Agfa HealthCare, Allscripts Healthcare Solutions, McKesson, CISCO Systems, Polycom, AMD Global Telemedicine, InTouch Technologies.

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