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(Health-NewsWire.Net, December 18, 2019 ) Market Overview
The telemedicine market is estimated to grow at a CAGR of 19%. in the forecast period of 2019-2026.
An increase in rural health issues and hospitalizations, a lack of resources to meet the increased cases, etc., necessitated the growth of the global Telemedicine market.
Telemedicine is two-way, real-time interactive communication between a patient and healthcare provider at a different place.
This is supported audio and video equipment along with integrated medical devices and hence enables the clinicians to evaluate, diagnose and treat patients remotely.
Studies reveal that over 62 million people lack access to adequate healthcare services. Also, the studies estimate, by 2020 there will be a shortage of 45,000 primary care providers.
Delay in care due to lack of access is leading to health complications. All these factors are necessitating the use of Telemedicine.
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Market Trends
Treatment through this method is particularly helpful in rural areas, where there is a lack of accessibility to both primary health care and specialty care due to the shortage of healthcare providers.
Faster access to healthcare, which is a crucial factor in improved patient engagement and better outcomes.
Progress in healthcare industry towards the value-based care and use of telehealth technologies results in positive outcomes including fewer hospital re-admissions, more faithful following of prescribed courses of treatment, and faster recovery than that of patients not receiving the foreign intervention.
Telemedicine allows hospitals to create a network to support each other. By easily sharing their expertise outside their institutions, doctors can offer incredible value to their medical colleagues and those colleagues’ patients. All these advantages and ease of access are driving the global telemedicine market.
Market Segmentation
Based on specialty area into General Consultation, Cardiology, Dermatology, Neurology, Gynecology, Trauma Care, Ophthalmology, Orthopedics, Psychiatry, Pathology, General Surgery, and Others.
Based on End-Users into Hospitals, Clinics, Patients, and others.
Based on technology into Hardware, Software, and Telecommunications.
Based on the type of telemedicine into Telehospitals/Clinics, Tele home, and health.
This report also segments the geographies by regions, which include North America, South America, Europe, Asia Pacific, and RoW.
Key Players
The global telemedicine market share is majorly divided among the following players: CareClix, ConsultADoctor, Teladoc, MD, iCliniq, American Well, M drive, MDAligne, state doctors, Doctor on Demand, Specialists on Call and LiveHealth Online. This report gives a profile of all the companies mentioned earlier.
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