Pune, India, March 10, 2021 (GLOBE NEWSWIRE) -- According to the report, Telemedicine Market size is projected to reach USD 396.76 Billion value by 2027, exhibiting a CAGR of 25.8% .The Telemedicine Industry was valued at USD 41.63 billion in 2019. The global telemedicine market is set to gain momentum from the introduction of artificial intelligence (AI)-powered booths in local malls. The system can dispense over 100 medications from a smart medicine cabinet.
Increasing Government Focus to Reduce Road Fatalities to Surge Demand
As per CMS, the healthcare expenditure reached USD 3.6 trillion in 2018 in the U.S., alone. It revealed a surge of 4.6%. This shows that out-of-pocket expenditure and the rising incidence of chronic diseases have bolstered the healthcare cost. Besides, the increasing usage of teleconsultations and digital technologies would augment the telemedicine market growth in the near future.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/telemedicine-market-101067
Teleconsultation services are cost-effective and aid healthcare professionals to save time. Hence, governments of various countries are trying to implement telemedicine services in their healthcare infrastructure. However, the lack of skilled healthcare professionals may hinder the demand for this time of medicine.
Based on type, the services segment is likely to remain at the forefront throughout the forthcoming years because of the rising deployment of e-consultation services in hospitals worldwide. The Merritt Hawkins Survey stated that the average waiting time for dermatological consultations in the U.S. increased to 32.2 days in 2017 from 28.8 days in 2014. The declining number of dermatologists is expected to raise the adoption of remote and virtual diagnostics services, thereby boosting the segment’s growth.
In 2019, North America generated USD 17.90 billion in terms of the telemedicine market share. This growth is attributable to the presence of several prominent players, such as MDLive and Teladoc in this region. At the same time, the rising teleconsultations and the robust support from government agencies would propel growth in this region.
Click here to get the short-term and long-term impacts of COVID-19 on this Market.
In Europe, the increasing usage of digital health owing to the implementation of favorable guidelines by government bodies would aid growth. The region is expected to retain its second position in the upcoming years backed by the surging cases of chronic diseases. The British Skin Foundation, for instance, mentioned that every year, the U.K. showcases around 100,000 new cases of skin cancer.
Quick Buy - Telemedicine Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101067
Robert Bosch & Autoliv Focus on Launching Advanced Products to Brighten Market Prospects
The global market for telemedicine houses numerous renowned companies that are mainly focusing on partnership and acquisition strategies. They are doing so to expand their product portfolios and to gain a large consumer base. Below are the two latest industry developments:
VivaBem joined hands with Doktor.se to raise approximately USD 2.5 million. The fund will help them to refine its existing products by integrating the Doktor.se’s AI-driven technology. It will further improve the user experience for health and wellness services, chronic care management, and telemedicine.
- American Well (Boston, U.S.)
- MDLIVE Inc. (Sunrise, U.S)
- Teladoc Health Inc. (Purchase, U.S.)
- Doctor on Demand Inc. (San Francisco, U.S.)
- MeMD (Arizona, U.S.)
- Encounter Telehealth (Nebraska, U.S.)
- Global Med (Arizona, U.S.)
- SnapMD (California, U.S.)
Have Any Query? Ask Our Experts:
Global Telemedicine Market Segmentation:
- Store-and-forward (Asynchronous)
- Real-time (Synchronous)
- Healthcare Facilities
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/telemedicine-market-101067
Have a Look at Related Reports:
Glaucoma Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Beta Blockers, Prostaglandins Analogs, Alpha Adrenergic Agonists, Carbonic Anhydrase Inhibitors, Combination Drugs, and Others), By Disease Indication (Open Angle Glaucoma, Angle Closure Glaucoma, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027
Cardiovascular Drugs Market Size, Share & Industry Analysis, By Drug Type (Antihypertensive, Antihyperlipidemic, Anticoagulants, Antiplatelet Drugs, Others), By Disease Indication (Hypertension, Hyperlipidemia, Coronary Artery Disease, Arrhythmia, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019 -2026
Ophthalmic Disease Therapeutics Market Size, Share and Industry Analysis By Disease Indication (Glaucoma, Retinal Diseases, Dry Eye Disease, Allergy & Infections), By Drug Class (Anti-inflammatory, Anti-infectives, Anti-VEGF, Anti-glaucoma), By Dosage Form (Solid, Liquid, Semi-solid), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Regional Forecast 2019-2026
Lung Cancer Therapeutics Market Size, Share and Industry Analysis By Therapy (Targeted, Therapy, Immunotherapy, Chemotherapy), By Cancer Type (Non-small cell lung cancer (NSCLC), Small cell lung cancer (SCLC)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Regional Forecast 2019-2026
Ultrasound Equipment Market Size, Share & COVID-19 Impact Analysis, By Product (Compact, and Table-top); By Application (Radiology, Gynecology, Cardiology, and Others), By End User (Hospitals & Clinics), and Regional Forecast, 2020-2027
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune - 411045, Maharashtra, India.