Global Telemedicine Markat Outlook 2021

Global Telemedicine Markat Outlook 2021

On the back of global factors like ageing world population, target to expand the reach of healthcare services in rural and most remote areas, attending emergency medical incidents, governments’ initiatives to cut down on medical expenses etc. have allowed the global telemedicine market to expand at an astonishing CAGR of 14.77.

The expansion in the global telemedicine would open new great opportunities for technology providers and healthcare service providers allowing them to cater patients at a distance. At 18.21%, global tele-home segment is projected to grow at a higher CAGR when compared to global tele-clinic & hospitals by 2021. The major reasons for this healthy growth can be attributed to the technology connectivity initiatives taken by the governments and a rise in number of tech savvy people across the globe. Another major reason for up-surged demand of telemedicine can be attributed to the nature of diseases. For instance, in backward areas, skin related diseases are the biggest problem at present. Not only that, the jumping back nature of skin diseases even after having a proper treatment is making the situation even more worse. As a result, tele-dermatology is estimated to have the largest market share at 19% in 2015, globally.

Speaking on a global level, the North America has the highest market size followed by Asia-Pacific and Europe, currently. Owing to factors like affordable care act, ICD-10 implementation, reimbursement and incentive plans for physicians, the U.S. is anticipated to exhibit a CAGR of 15.58% from 2015-2021. This growth rate will push the tele-medicine market in North America in coming years. After North-America, Asia-Pacific is the region that is expected to have the second largest share by 2021. As a result, the focus of technology providers can be seen shifting from Europe to Asia. GE, Philips, Honeywell etc. are some of the global telemedicine technology providers at present.

Governments’ Initiative across the World to drive Global Telemedicine Market Growth in Future”: says ERC

The Global Telemedicine market is expected to experience a healthy growth rate in coming years. Driven by several telemedicine favorable initiatives taken by countries, especially in the U.S., the global telemedicine market is projected to grow at an average year-on-year growth rate of 14.5% from 2015 to 2021. At present, the North America constitutes the highest share in global telemedicine and is expected to lead in next five years i.e. 2015-2021. On the back of various programs implemented by the U.S. government and various policies being updated would boost the use of telemedicine across the country. The report titled, “Global Telemedicine Market 2021”, projects the global Telemedicine market will reach USD 40.9 Billion during the forecasted period of 2015-2021 according to our research report.

The report further identifies the growth in North America (U.S. & Canada), Asia-Pacific, Europe and Rest of the World (ROW) and initiatives taken by countries. An expansion in the old people bracket and a huge gap in supply and demand base of physicians globally would fuel the demand of telemedicine in near future. In addition to that, making healthcare affordable for all segments of the society at a lower cost would further enable the telemedicine adoption to up in near future.

The report titled “Global Telemedicine Market 2020” provides detailed analysis on the Global Telemedicine Market in terms of telehospitals/teleclinic and telehome. To provide a detailed analysis of telemedicine market, the report also covered telemedicine market by application viz. Tele-radiology, Tele-dermatology, Tele-gynecology, Tele-neurology, Tele-cardiology, Tele-Psychiatry and Tele-pathology. Further, the report also analyzes the opportunities and developments of the Global telemedicine market in various regions viz. North America, Europe, Asia-Pacific and Rest of the World (ROW).

To provide the in-depth analysis, the management information research report also encompasses the growth drivers, restraints, Porter’s Five Force Model, Market Attractiveness, Base Point Scale Analysis (BPS) and government initiatives.

With a view to understand the competitive landscape, the research report includes profiles of major Telemedicine players but not limited to AMD Global Telemedicine, Inc., Philips Healthcare, GE Healthcare, Aerotel Medical Systems, Allscripts Healthcare Solutions Inc., Honeywell Life Care Solutions, McKesson Corporation etc. The profile encloses business overview, key financial, product offering and recent developments. Overall, the report provides detailed overview on the Global Telemedicine Market that will help industry consultants, equipment manufacturers, service providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

“Increasing use of Various Applications to drive Global Telemedicine Market”: says ERC

Global Telemedicine Market is growing immensely due to its growing application; Tele-cardiology, Tele-radiology, Tele- dermatology, Tele-gynecology etc. At 19%, Tele-dermatology had the highest share in the global applications market in 2015 and is expected to lead in next five years followed by Tele-cardiology. The report titled, “Global Telemedicine Market 2021”, projects the global Telemedicine market to grow at a CAGR of 14.77% during the forecasted period of 2015-2021 according to our research report.

In recent years there has been a spiked growth in the lifestyle diseases across the world. And, with that growth, the gap between physicians’ supply and demand has also widened. Thus, adoption for applications like Tele-nursing, Tele-emergency, Tele-neurology, Tele-psychiatry can be seen moving up in past few years. In addition to that, the report titled “Global Telemedicine Market 2021” provides detailed overview on the Global Telemedicine Market in terms of telehospitals/teleclinic and telehome.

Further, the report also studies the North America, Europe, Asia-Pacific and Rest of the World (ROW) for Telemedicine acceptance level, its viability, opportunities and initiatives taken under government and public-private partnership (PPP) model.

To provide the in-depth analysis, the research report also encompasses the growth drivers, restraints, Porter’s Five Force Model, Market Attractiveness, Base Point Scale (BPS) Analysis and various government initiatives.

With a view to understand the competitive landscape, the research report includes profiles of major Telemedicine players but not limited to AMD Global Telemedicine, Inc., Philips Healthcare, GE Healthcare, Aerotel Medical Systems, Allscripts Healthcare Solutions Inc., Honeywell Life Care Solutions etc. The profile encloses business overview, key financial, product offering and recent developments. Overall, the report provides detailed overview on the Global Telemedicine Market that will help industry consultants, equipment manufacturers, service/technology providers, existing players looking for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.