Telemedicine Equipment Market Size By Product (Telemedicine Cart {Single Display Cart, Dual Display Cart}, Telemedicine Kit, Telemedicine Kiosk, Peripherals {Digital Camera, Stethoscopes, Digital Scopes, Ultrasound Probes, Pulse Oximeters), By End-use (Ho

Telemedicine Equipment Market Size By Product (Telemedicine Cart {Single Display Cart, Dual Display Cart}, Telemedicine Kit, Telemedicine Kiosk, Peripherals {Digital Camera, Stethoscopes, Digital Scopes, Ultrasound Probes, Pulse Oximeters), By End-use (Hospitals, Clinics, Specialty Centers, Homecare Settings), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028

The telemedicine equipment market is slated to register lucrative growth through 2028, driven by the technological advancements and the healthcare sector conditions that have accelerated the adoption of telemedicine equipment in hospitals, home care centers, and others in the wake of the COVID-19 pandemic.

Telemedicine equipment helps in saving the time of both the patient and the health care provider and reduces the cost of treatment.

The deployment and application of telemedicine equipment have witnessed a major boom due to the onset of the COVID-19 pandemic. The social distancing norms have made telemedicine the safest mode of treatment between patients and clinicians.

Over the years, many market players operating in the telemedicine equipment market have introduced online applications to facilitate the adoption of telehealth.

In a recent instance, MediTelecare, the leading market player in telehealth and tele-technology services announced the launch of MediTely app. The app is the direct-to-consumer mobile health technology, and mainly emphasizes to support the elderly population residing outside long-term care facilities.

Overall, the telemedicine equipment market is classified into different segments in terms of product, end-use, specialty, and regions to outline the industry’s projected growth more comprehensively.

With reference to the product segment, the telemedicine equipment market is divided into telemedicine cart, telemedicine kit, peripherals, and telemedicine kiosk.

Among these, the telemedicine kit market share will record a CAGR of 18.0% through the projected timeframe. The growth of this segment can be attributed to the widespread adoption of portable kits which are integrated with software platforms to offer real-time examination.

Recently, TytoCare, an Israeli firm, has supplied 50 telemedicine devices to help children in isolated villages of Ukraine to support the access to healthcare.

Based on end-use, the telemedicine equipment market is bifurcated into hospitals, clinics, specialty centers, home care settings, and others. Out of these, the hospital segment accounted for a revenue share of USD 1694.7 million in 2021. The revenue growth can be attributed to growing use of telemedicine carts that serve as mobile workstations for practitioners to keep a track of patient’s medical data at the hospitals.

From a regional standpoint, the Latin America telemedicine equipment market recorded a business share of more than 2.6% in 2021 owing to the recent reforms in the healthcare sector influencing the adoption of telehealth.

The MEA region is pegged to observe significant growth due to the adaption in healthcare for remote areas and bringing in expertise from the developed countries. The region is expected to grow at a CAGR of 18.3% over the forecast period.