Skip to main content

Telemedicine Market Segments Analysis and Growth Forecast Report

The global telemedicine market size is expected to reach USD 298.9 billion by 2028, according to a new report by Grand View Research. The market is expected to expand at a CAGR of 22.4% from 2021 to 2028. Key drivers of the market include increasing incidences of chronic conditions and rising demand for self-care. Furthermore, enhancing internet application, virtual medicine and rising demand for centralization of healthcare are expected to save on cost incurred, which is one of the critical success factors attributing to market growth.

In the U.S. both state and federal laws have evolved to facilitate the widespread use of telemedicine to cope up with the COVID-19 pandemic. For instance, in March 6, 2020 the U.S. president signed Coronavirus Preparedness and Response Supplemental Appropriations Act. It includes USD 8.0 billion emergency funding for the federal agencies and to expand reimbursement coverage for telehealth services. Various U.S. states also waived of the licensure for better utilization of the service. This positively impacted the market growth during the pandemic.

Rapid advancements in technology is further expected to boost the demand for online consultation, thereby contributing to the market growth of telemedicine solutions and services over the forecast period. For instance, in April 2020, American Well launched Amwell Private Practice that is a secure, simple and cost-effective solution for doctors to deliver virtual primary or specialty care for COVID19 patients. There has been a significant rise in telemental health visits over the past decade in the U.S. and the trend is expected to continue during the forecast period, thereby contributing to the adoption of telemedicine systems by hospitals and healthcare settings.

For More Details or Sample Copy please visit link @: https://www.grandviewresearch.com/industry-analysis/telemedicine-industry

Telemedicine Market Report Highlights

·         The product segment registered largest revenue share in 2020 due to increasing adoption of remote monitoring devices

·         Increasing demand of automation and synchronization across the system is anticipated to be the key driving factor for the real time technology segment

·         Telemedicine found wide applications in dermatology, psychiatry, intensive care units, emergency care, ophthalmology and radiology. The teleradiology segment accounted for the largest revenue share in 2020

·         The web/mobile based delivery model is expected to witness significant growth in coming years due to high adoption of smartphones and penetration of internet

·         The tele-homecare segment is anticipated to witness a lucrative CAGR in coming years due to increasing awareness pertinent to benefits of remote healthcare amongst patients and introduction of advanced technologies to monitor patient’s health from remote locations

·         The patients segment held the largest revenue share in 2020. Government initiated healthcare programs across the world are anticipated to propel segment growth in coming years

·         North America dominated the market as there is high adoption of telehealth solution due to COVID-19 pandemic. Availability of advanced healthcare facilities with plenty funds contributed to the emergency care delivery to stop spread of the disease is contributing towards the growth of the market in the region

·         In Asia Pacific, the market is predicted to witness lucrative growth over the forecast period. Developing economies such as China and India are facing challenge to provide access to patients due to corona outbreak is expected to boost the adoption of telemedicine services in this region. Economic reforms, boosting IT industry, and low functioning costs are the key factors attracting market players to participate in this region

·         Telemedicine products are distributed by direct supply contract amongst the manufacturers and end users or maybe concluded via a third-party supplier

Gain deeper insights on the market and receive your free copy with TOC now @: https://www.grandviewresearch.com/industry-analysis/telemedicine-industry/request/rs15

Grand View Research has segmented the global telemedicine market by component, technology, application, delivery mode, type, end-use, and region
Labels:

Comments

Post a Comment

Popular posts from this blog

Generative AI In Agriculture Market Overview: Extensive Evaluation of Market Size, Growth Opportunities

  The global   generative AI in agriculture market   size was estimated at USD 226.2 million in 2024 and is projected to reach USD 2,158.9 million by 2033, growing at a CAGR of 28.7% from 2025 to 2033. Farmers are increasingly using generative models to predict yields, weather impacts, and input requirements. This trend supports precision agriculture by enabling scenario-based planning. The global generative AI in agriculture industry is witnessing a shift toward AI-driven crop simulation and decision-making tools. The development of specialized, accessible, and efficient AI models for agricultural advisory, yield prediction, and climate adaptation is driving growth in the generative AI in agriculture market. This indicates growing demand for localized, multilingual, and climate-resilient advisory tools, especially for smallholder farmers in emerging regions, and signals a shift from general-purpose AI to frugal, scalable solutions suited for underserved agricul...
Post a Comment
Read more

Welded Plate And Block Heat Exchanger Market Segments & Scope Analysis & Growth Forecast

  The global  welded plate and block heat exchanger market  size is anticipated to reach USD 1.2 billion by 2025, exhibiting a CAGR of 5.9% over the forecast period, according to a new report published by Grand View Research, Inc. The market is anticipated to be driven by the growing demand for the product in HVAC & refrigeration, power generation, and petrochemical industries, especially in emerging economies in Asia Pacific and CSA regions. Welded plate & block heat exchangers play a significant role in enhancing heat transfer efficiency of industrial machinery. Growing demand for efficient thermal management systems with low space requirements is expected to drive the demand for plate & block heat exchangers over the forecast period. Growth of industrial sectors including food & beverages, chemicals, pulp & paper, power generation, metal & mining, textiles, and oil & gas is leading to an increase in the requirement for highly-efficient...
Post a Comment
Read more

Fraud Detection and Prevention Market, Uncovering Market Size, Competitive Landscape, and Emerging Strategies

The global  fraud detection and prevention market  size is anticipated to reach USD 90.07 billion by 2030, growing at a CAGR of 17.6% from 2023 to 2030, according to a recent study by Grand View Research, Inc. The proliferation of smartphones and the continued rollout of high-speed internet networks has triggered the adoption of mobile banking practices. Mobile banking helps reduce the crowds at banks and allows users to transact irrespective of location. According to a GSMA report, nearly 300 million individuals got connected for the first time to mobile internet in 2018, thereby taking the total global connected population to over 3.5 billion. While mobile-based payment applications, such as Paytm, Apple Pay, Google Pay, and PayPal, among others, gained traction in line with the rising number of smartphone users, these applications also emerged as the major targets of fraudsters, thereby prompting banks to offer online banking services and payment services companies to opt...
Post a Comment
Read more