Telemedicine Market Anticipated to Grow at a CAGR of 17.5% by 2024

New York, USA, 2018-Nov-01 — /EPR Network/ —According to Goldstein Research, the global telemedicine market is expected to reach USD 56.7 billion by 2024, growing at a CAGR of 17.5% over the forecast period 2016-2024. Major driving factor for the expansion of telemedicine market is built-in EMR integration that provides the patient information to the clinician at the point of care and also to the remote specialist, even when they each use a different EMR during telemedicine consultation. Global Telemedicine Market segmentation has been done on the basis of type, service, technology, application, and geography. Based on application, dermatology dominated the market with 27.0% market share in 2016 while neurology is expected to witness the fastest growth at a CAGR of 14.57% owing to increasing neurological complications. Global telemedicine market is largely dominated by North America with a market share of 40% in 2016 while APAC is projected to witness a robust growth with a CAGR of 15.1% over the forecast years. The telemedicine market size is set to reach USD 56.7 billion by 2024, at a CAGR of 17.5% over the forecast years.

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Market Segmentation

On the basis of our in-depth analysis, Global Telemedicine Market can be segmented as follows:

By Type

  • Tele-Hospital/Clinics
  • Tele-Home
  • mHealth

By Service

  • Tele-Education
  • Tele-Training
  • Tele-Consultation
  • Tele-Monitoring
  • Tele-Care
  • Tele-Surgery

By Technology

  • Hardware
  • Software
  • Telecommunications

By Application

  • Neurology
  • Orthopedics
  • Cardiology
  • Dermatology
  • Pathology
  • Psychiatry
  • Emergency Care
  • Internal Medicine
  • Gynecology
  • Other (Pharmacy, etc.)

Based on End User

  • Hospital
  • Clinics
  • Patient
  • Others (Medical Labs, etc.)

By Region

  • North America Telemedicine Market Analysis, 2016-2024
  • Europe Telemedicine Market Analysis, 2016-2024
  • Middle East And Africa Telemedicine Market Analysis, 2016-2024
  • Latin America Telemedicine Market Analysis, 2016-2024
  • Asia Pacific Telemedicine Market Analysis, 2016-2024

Global Telemedicine Market is driving on the basis of advancement in branches of healthcare IT which includes trending technologies mentioned below:

Mobile Medical Apps Market

Foremost driving factor for Mobile Medical Apps Market growth is the emergence of smartphone technology which is a promising technology for implementation in remote patient monitoring for several causes such as benefits for medical-device manufacturers including cost savings. Further emergence to telemedicine market is also likely to propel the growth of mobile medical applications market. outlook also includes product development, technological advancements and investment strategies adopted by major market players in order to expand their business across the globe.

Digital Healthcare Market

Nature of the digital health market has high potential but slow uptake. Health insurer Cigna Corp. ponies up USD 250 million to invest in data, analytics and digital healthcare targeting promising startups and growth-stage companies that are unlocking new growth possibilities in healthcare. Digital Health Market size was valued over USD 65.23 billion in 2017 and the opportunity in this market is anticipated to rise at a CAGR of 30.0% in the forecast period (2017 to 2025).

mHealth Market

Patients want the more convenient provision of health care, but they also want greater control. For doctors, mHealth can help provide better patient care and ease their administrative headaches, but they are likely to resist the loss of power implicit in greater patient control. The North America mobile health market was valued at USD 2.87 billion in 2017 and is projected to reach USD 25.71 billion by 2025, at a CAGR of 31.53% during the forecast period from 2017 to 2025. The U.S. and Canada have been at the forefront of mobile health deployments in the mHealth market and around 42.5% of the deployed solutions work towards strengthening the healthcare systems.

eHealth Market

Artificial Intelligence in the healthcare market is anticipated to hit USD 6.15 billion by 2020 which tends to save USD 149.67 billion by 2025 for the healthcare industry. Nature of EHealth market has high potential but slow uptake. eHealth Market size was valued over USD 65.23 billion in 2017 and the opportunity in this market is anticipated to rise at a CAGR of 30.0% in the forecast period (2017 to 2025).

“Global Telemedicine Market Outlook 2024” contains a detailed overview of the global telemedicine market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by type, service, technology, application, and geography.

The Global Telemedicine Market Report highlights the competitive outlook of major global players that includes business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The in-depth analysis of telemedicine market report will help the clients to assess their business strategies as per the competitive environment in the market space.

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Major players of the global telemedicine market discussed in the report are: F. Hoffmann-La Roche Ltd., CISCO Systems, Inc., Siemens Healthcare, McKesson Corp, Agfa HealthCare NV, AMD Global Telemedicine, Inc., Polycom Corp., Honeywell HomMed LLC, InTouch Technologies, Inc., LifeWatch AG, Medtronic, Inc., OBS Medical Ltd., Allscripts Healthcare Solutions, IBM, Intel Corporation, Philips Healthcare, GE Healthcare, Cardio Net Inc.,etc.

Further, Global Telemedicine Market Report encompasses the major trends & growth opportunities, market dynamics and other growth factors. The  Market outlook also comprises risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

About Goldstein Research

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts.

Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on healthcare industry analysis reports helping various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the rigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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