Rise in Chronic Diseases to Augment Global Telemedicine Market with a Valuation of USD 61.99 Billion by 2024 – Research Nester
Sep 7, 2018
The global telemedicine market is anticipated to flourish at a CAGR of 14.8% over the forecast period i.e. 2017-2024. Further, the market of telemedicine was valued at USD 20.54 Billion in 2016 and is projected to garner USD 61.99 Billion by the end of 2024.
New York, United States - September 6, 2018 /MarketersMedia/ —
“Global Telemedicine Market Analysis & Opportunity Outlook 2024”
The global telemedicine market has been segmented by type into telehospitals/teleclinics, telehome and mobile health (M-Health). Among these segments telehospitals/teleclinics segment is expected to dominate the growth of the global telemedicine market over the forecast period. Further, global telemedicine market has been segmented by specialty into cardiology, dermatology, neurology, orthopedics, emergency care, gynecology and others, out of which, cardiology and neurology segment are anticipated to witness a significant compound annual growth rate in their respective sectors. Due to the occurrence of various medical emergencies, telemedicine provides effective management services which are estimated to drive the growth of telemedicine market across the globe.
The Global Telemedicine Market was valued at USD 20.54 Billion in 2016 and is anticipated to reach the market valuation of USD 61.99 Billion by the end of 2024 by expanding at a compound annual growth rate of 14.8% over the period 2017-2024. This can be attributed to growing number of medical emergencies and increasing geriatric population around the globe.
In the regional segment, presence of refined medical services and high patient alertness is anticipated to propel the growth of North America telemedicine market with significant market share in overall telemedicine market. Rising incidences of chronic diseases is anticipated to drive the growth of telemedicine market in Europe region. Further, rising access to healthcare in countries such as India, China and Japan combined with increase in population are some of the factors that are anticipated to drive the growth of Asia Pacific telemedicine market.
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Increasing Technological Innovation to Boom the Market
Factors such as rising geriatric population and thriving technological innovation in the field of medical device and services are expected to benefit the expansion of telemedicine market across the globe. Further, initiatives taken by government towards funding and grants for telemedicine are believed to propel the growth of global telemedicine market. However, lack of skilled and trained professionals is estimated to limit the growth of the global telemedicine market in the near future.
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The report titled “Global Telemedicine Market Analysis & Opportunity Outlook 2024” delivers detailed overview of the global telemedicine market in terms of market segmentation by type, by specialty, by end-user, by technology and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global telemedicine market which includes company profiling of Honewell Life Care Solutions, Teladoc Inc., AMD Global Telemedicine Inc., Doctor On Demand, Intouch Technologies, Lifewatch, Biotelemetry Inc., Cardiocom, Aerotel Medical Systems and Allscripts Healthcare Solutions. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global telemedicine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: MarketersMedia
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