Telemedicine Market is estimated to value over USD $110 billion by 2027 end and register a CAGR of over 16% during the forecast period 2020 to 2027.

The report initiates from the outline of business surroundings and explains the commercial summary of chain structure. Moreover, it analyses forecast by Service Type, By End-user Type, by Region and Telemedicine Market share.

Additionally, this report illustrates the corporate profiles and situation of competitive landscape amongst numerous associated corporations including the analysis of market evaluation and options associated with the worth chain. This report provides valuable insights on the general market profit through a profit graph, an in-depth SWOT analysis of the market trends alongside the regional proliferation of this business vertical.

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Market Segmentation:

This Market is divided by Service Type, By End-user Type, by Region.

Regionally, the worldwide Telemedicine Market is fragmented as North America, Europe, Asia Pacific and also the rest of the world.

Key Market Players:

Major market players enclosed within this market are TeleVital, AMD Global Telemedicine, Inc. HealthTap, American Well, Maven, InTouch Health, Spruce Health, HealthSpot

 (Note: The list of the key players are going to be updated with the most recent market scenario and trends)

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FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key trends
• Key data-points touching market growth

Competitive Landscape:

• Tier 1 players - well-established companies in the market accounting a major market share 
• Tier 2 players 
• Rapidly growing players
• New Entrants

Objectives of the Study:

• To offer with a complete analysis on the Telemedicine Market by Service Type, By End-user Type, by Region.
• To cater comprehensive data on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To measure and forecast micro-markets and also the overall market
• To predict the market size, in key regions — North America, Europe, Asia Pacific and rest of the world
• To record and evaluate the competitive landscape mapping - product launches, technological advancements, mergers and expansions

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Telemedicine Market Research Report- Forecast Till 2023, Published by Market Research Future. MRFR Provides Telemedicine Industry Updates, Size, Share, Growth, Competitive Landscape, Regional Outlook

Overview:

Market Research Future (MRFR) in their latest report on the telemedicine market predicted a likelihood for the market to attain 16.8% CAGR during the forecast period (2018-2023). If the growth rate remains the same, then the telemedicine market could also transcend a valuation of USD 56, 738.3 million by the end of 2023. Telemedicine service is primarily audiovisual support for physicians and patients which could diminish the physical distance of the two and help them doctors to diagnose patients and provide necessary medicine.

The telemedicine market is gaining grounds at a rapid speed owing to the growing necessity for the same in distant regions. Development in IT services can be a major factor that can take the market forward in the coming years. The system can significantly curb the cost associated with hospitals which is why it is becoming popular among people and could see the telemedicine market profit skyrocketing. However, data privacy may become an issue in the coming years.

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Segmental Analysis:

MRFR segments the global telemedicine market by service type, component, deployment, application, and end-use for a detailed analysis of the market to assist in the predictive analysis of the market.

Based on the service type, the global telemedicine market can be segmented into telenursing, telepharmacy, teleradiology, teledermatology, teleoncology, and others.

Based on the component, the telemedicine market includes software and hardware. The software segment can be segmented further into integrated and standalone software. The hardware segment comprises monitors and medical peripheral devices.

Based on the deployment, the global telemedicine market includes cloud-based and on-premise. The cloud-based service is expected to witness a surge in its application owing to increasing application and adoption of the system by users.

Based on the application, the global telemedicine market consists cardiology, ophthalmology, psychiatry, radiology, dermatology, and others.

Based on the end-use, the telemedicine market is segmented into hospitals, clinics, and home care. Patients do prefer home care which can substantially boost the telemedicine market.

Regional Analysis:

Regionally, the telemedicine market spans across the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). MRFR in their report made this segmentation to have a better overview of the entire market.

Healthcare and IT, two well-formed structures in the Americas have emerged as reasons behind the substantial growth of the regional telemedicine market. The region is setting trends for others. A recent report, based on the survey conducted by the Centers for Disease Control and Prevention that came out in 2017 on physicians handling such technologies, suggest approximately 86.9% of the office-based physicians used the EMR/EHR system. This is a clear-cut indication of the market prospering well. In addition, rising healthcare expenditure and major players operating from the region are bolstering the claim for its premier spot.

Europe’s fortune is mostly guided by government funds and expenditures in research and development. It comes next only to the Americas. Western Europe is more developed and there Italy, the U.K., France, and others are doing well to take the market forward. As per the Parliamentary Office of Science and Technology, in 2016, NHS Trusts received a substantial amount from the Integrated Digital Care Fund to increase takers of electronic record system.

The APAC region is the fastest growing as per the report of MRFR. Major economies such as India and China are boosting the regional contribution with their own plans to set up telemedicine service to reach out to millions living in remote areas. As per the Indian Brand Equity Foundation, in 2017, the telemedicine sector in the country was estimated to reach USD 32 million by 2020. This hints at the prosperity that the regional market is going to achieve soon.

Lack of healthcare infrastructure and trained officials are holding back the MEA market from having substantial growth. The Middle East has maximum command over the regional market. Africa is lagging due to the presence of poor economies.

Browse the market data and information spread across 150 pages with 157 data tables and 15 figures of the report “Global Telemedicine Market Research Report, By Service Type (Telenursing), Component (Software, Hardware), Deployment (Cloud-Based, On-Premises), Application (Cardiology, Radiology, Dermatology) End Users (Hospitals, Clinics) - Global Industry Size, Trends, Growth, Analysis, Share, Forecast Till 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/telemedicine-market-2216 

Competitive Landscape:

Influential players of the global telemedicine market, as recorded in the report of MRFR, are CardioNet, AMD Global Telemedicine, Inc., Cisco, GENERAL ELECTRIC, IBM Corporation, Intel Corporation, Iris Telehealth, Aerotel Medical Systems, Koninklijke Philips N.V., CareClix, Cerner Corporation, Medtronic, Allscripts Healthcare Solutions, Cardiocom, Honeywell Lifesciences, Tunstall Healthcare, SHL Telemedicine, TeleVital, Medvivo Group Ltd., Care Innovations, Aerotel Medical Systems Ltd., and others.

In March 2019, Telehealth company RO announced that their latest initiative would focus mostly on women and their menopause problems. Rory, their new technology would offer care, education, and resources to women who are going through such changes.

This report studies the Global Telemedicine Market status and outlook of Global Market 2018. The report begins with the overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast. The global key-word exploring the Telemedicine Market record explore on defining and evolving the key elements for the development of the key-word market and forecasts till 2023. 

Global Telemedicine Market is expected to grow at a CAGR of 16.8% and reach USD 56,738.3 by 2023. Increasing adoption of Electronic Health Record (EHR)/ Electronic Medical Record (EMR), rising prevalence of chronic diseases like diabetes, cancer, besides others followed by a dearth of physicians in the presence of increasing healthcare services demands drives the Global Telemedicine Market. However, the high cost of implementing telemedicine systems and the need for training along with stringent government regulations is estimated to restraint the market growth during the projected period.

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Key Players for Global Telemedicine Market

The key players for the Global Telemedicine Market are AMD Global Telemedicine, Inc., CardioNet, CareClix, Cerner Corporation, Cisco, GENERAL ELECTRIC, IBM Corporation, Intel Corporation,  Iris Telehealth, Koninklijke Philips N.V., Medtronic, SHL Telemedicine, TeleVital, Aerotel Medical Systems, Allscripts Healthcare Solutions, Cardiocom, Honeywell Lifesciences, Tunstall Healthcare, Care Innovations, Medvivo Group Ltd., Aerotel Medical Systems Ltd., and others.

Regional Analysis for Global Telemedicine Market

Europe stands second in the Global Telemedicine Market owing to increasing adoption of new of new technologies in the healthcare sector and increasing government support to address the healthcare demands. According to the Parliamentary Office of Science and Technology in 2016, the Integrated Digital Care Fund awarded approximately 63 million to NHS Trusts for facilitating the adoption of electronic health records.

The Americas dominate the Global Telemedicine Market due to the presence of a well-developed healthcare sector, increasing adoption of healthcare IT. According to the Centers for Disease Control and Prevention in 2017, approximately 86.9% of the office-based physicians used EMR/EHR system

The Middle East & Africa has the least share in the Global Telemedicine Market due to the presence of poor economies, lack of healthcare services and stringent government policies, especially within the Africa region. It is estimated that a majority of the market of the Middle East & Africa is held by the Middle East.

Asia Pacific is estimated to be the fastest growing region due to a huge patient pool and growing telemedicine sector. Moreover, the presence of continuously developing economies like India, China and Australia within the region fuels the market growth. According to the Indian Brand Equity Foundation in 2017, telemedicine sector was estimated to be a fast emerging sector in India. The Indian Telemedicine Market is estimated to reach USD 32 million by 2020.

Segmentation for Global Telemedicine Market

The global telemedicine market is segmented on the basis of service type, component, deployment, application, and end user.

On the basis of the service type, the market is segmented into telenursing, telepharmacy, teleradiology, teledermatology, tele-oncology, others. On the basis of the component, the market is categorized into software and hardware. The software segment is sub-segmented into integrated software and standalone software. The hardware segment is sub-segmented into monitors and medical peripheral devices. On the basis of the deployment, the market is segmented into cloud-based and on premises. On the basis of the application, the market is segmented into cardiology, ophthalmology, psychiatry, radiology, dermatology, and others. On the basis of the end user, the market is segmented into hospitals, clinics, home care.

Table Of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restrains

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porters Five Forces Analysis

5.1.1 Bargaining Power Of Suppliers 

TOC Continued… 

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Market Insights

According to Market Research Future's (MRFR) latest report, the global telemedicine market is expected to value an estimated USD 56.73 billion by the end of 2023 and observe a notable CAGR of 16.8% during the forecast period 2017-2023. Increasing occurrences of chronic lifestyle diseases and the rapid evolution of applications for telecommunication and IT technology are crucial factors driving market growth. 

The increasing adoption of electronic health records is poised to be a major market driver during the forecast period due to its capability to allow physicians to communicate with their patients securely and effectively. The prevalence of diseases such as cancer where patients could benefit from telemedicine treatment is likely to provide avenues for growth of the market. Additionally, rising demand for self-care options, the advent of virtual medicine and the ability of the technology to reduce emergency hospital visits is expected to encourage robust growth during the forecast period.

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Extensive required training, high cost associated with deployment and stringent regulations regarding the same are expected to hinder market growth. However, the market and relevant technology are still in its Indian stages, and government-sponsored telemedicine programs provide high potential for growth in the future. 

Market Segmentation

The global telemedicine market has been broadly categorized by service type, component, deployment, application, end-user, and region. 

By service type, the market has been segregated into telenursing, telepharmacy, teleradiology, teledermatology, teleoncology and others. 

By component, the market has been divided into software and hardware. Further sub-segmentation is as follows

• Hardware - monitors and peripheral medical
• Software - integrated software and standalone software 

By deployment, the market is divided into cloud-based and on premises. 

By application, the market has been divided by cardiology, ophthalmology, psychiatry, radiology, dermatology, and others. 

By end users, the market is segmented into hospitals, clinics, and home care.  

Regional Analysis

The Americas possess the most significant market share due to the existence of a well funded and established healthcare sector. Moreover, the region is often swift in its adoption of current healthcare IT technology. There is a strong presence of major market players who contribute significantly toward the market position of this region. The research and development of this technology in the Americas, specifically the U.S and Canada is expected to motivate market growth. 

Government support and pressing healthcare needs have boosted Europe to the second largest regional market segment. Developed economies in this region have an established healthcare sector and a growth pattern similar to that of the Americas. 

Rapidly emerging economies of the fastest growing Asia Pacific region such as India, China, and Australia are driving growth for the global telemedicine market. The growing expenditure on healthcare and the considerable potential of this technology for the vast patient population that exists in this region is expected to motivate growth. 

Meanwhile, the Middle East & Africa is expected to grow moderately during the forecast period due to the presence of impoverished countries in the African continent. However, developing countries of the Middle East are expected to facilitate growth, albeit limited. 

Key Players

Prominent players who have been profiled in MRFR's analysis of the competitive landscape include Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions, Cardiocom, AMD Global Telemedicine, Inc., CardioNet, CareClix, Cerner Corporation, Intel Corporation,  Iris Telehealth, Koninklijke Philips N.V., Medtronic, GENERAL ELECTRIC, IBM Corporation, SHL Telemedicine, TeleVital, Honeywell Lifesciences, Tunstall Healthcare, Care Innovations, Medvivo Group Ltd, and others. 

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Latest Industry News

A Pennsylvania hospital has seen benefits from deploying telemedicine. Abington Hospital - Jefferson Health has been using a virtual visit platform in it's OR so that clinician can connect with specialists during intensive operations. Physicians are also using the tool to communicate with a patient's family after surgery.

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