Telemedicine Market Report: Trends, Forecast and Competitive Analysis

Telemedicine Market Trends and Forecast

The future of the telemedicine market looks promising with opportunities in the teleradiology, telepsychiatry, telepathology, teledermatology, and telecardiology market. The global telemedicine market is expected to grow with a CAGR of 19% to 21% from 2023 to 2028. The major drivers for this market are increasing prevalence of chronic and lifestyle-associated diseases, and growing need for remote patient monitoring services in developing countries.

Telemedicine Market by Component, Product Type, Modality, Delivery Mode, Application, and End Use Industry

Emerging Trends in the Telemedicine Market

Emerging trends, which have a direct impact on the dynamics of the industry, include growing applications of AR/VR from both patient and doctor end for visits and introduction of mHealth.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched and other details of the global telemedicine market report, please download the report brochure.

Telemedicine Market by Segments

Telemedicine Market by Segment

The study includes a forecast for the global telemedicine market by component, product type, modality, delivery mode, application, and end use industry as follows:

Telemedicine Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

Product

Hardware

Software

Others

Services

Tele-consulting

Tele-monitoring

Tele-education

Telemedicine Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

Tele-hospital

Tele-home

Telemedicine Market by Modality [Value ($B) Shipment Analysis from 2017 to 2028]:

Store & Forward

Real-Time

Others

Telemedicine Market by Delivery Mode [Value ($B) Shipment Analysis from 2017 to 2028]:

Web/Mobile

Telephonic

Visualized

Call Centers

Telemedicine Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

Teleradiology

Telepsychiatry

Telepathology

Teledermatology

Telecardiology

Others

Telemedicine Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

Providers

Payers

Patients

Others

Telemedicine Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Telemedicine Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies telemedicine companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the soft magnetic composite's companies profiled in this report include.

Aerotel Medical Systems

InTouch Technologies

AMD Global Telemedicine

OBS Medical

Cisco Systems

Cerner Corporation

Allscripts Healthcare Solutions

McKesson Corporation

Honeywell International

BioTelemetry

Telemedicine Market Insights

Lucintel forecasts that real-time will remain the largest segment over the forecast period due to increasin usage of mHealth and virtual video visits and service offerings by key market players. Additionally, it is useful at the tele intensive care as it transfers the patient's data quickly to the intensivist at a distant location and helps the ICU members at the hospital in the treatment of the patient.

Teleradiology is expected to remain the largest segment due to increase in imaging practices, teleradiology workflow adoption by healthcare providers, expansion of service offerings within radiology sub-segments, and the streamlining & regulation of teleradiology practices.

North America remains the largest region due to rising digitalization across healthcare, advanced healthcare facilities, and the adoption of telemedicine solutions.

Features of the Telemedicine Market

Market Size Estimates: Telemedicine market size estimation in terms of value ($B)

Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Telemedicine market size by various segments, such as product type, component, modality, delivery mode, application, end use industry, and region.

Regional Analysis: Telemedicine market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by product type, component, modality, delivery mode, application, end use industry, and regions for the telemedicine market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the telemedicine market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the telemedicine market size?

Answer: The global telemedicine market is expected to reach an estimated $xx billion by 2028.

Q2. What is the growth forecast for telemedicine market?

Answer: The global telemedicine market is expected to grow with a CAGR of 19% to 21% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the telemedicine market?

Answer: The major drivers for this market are increasing prevalence of chronic and lifestyle-associated diseases, and growing need for remote patient monitoring services in developing countries.

Q4. What are the major segments for telemedicine market?

Answer: The future of the telemedicine market looks promising with opportunities in the teleradiology, telepsychiatry, telepathology, teledermatology, and telecardiology market.

Q5. What are the emerging trends in telemedicine market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include growing applications of AR/VR from both patient and doctor end for visits and introduction of mHealth.

Q6. Who is the key telemedicine companies?

Answer: Some of the key telemedicine companies are as follows:

Aerotel Medical Systems

InTouch Technologies

AMD Global Telemedicine

OBS Medical

Cisco Systems

Cerner Corporation

Allscripts Healthcare Solutions

McKesson Corporation

Honeywell International

BioTelemetry

Q7. Which telemedicine segment will be the largest in future?

Answer: Lucintel forecasts that real-time will remain the largest segment over the forecast period due to increasing usage of mHealth and virtual video visits and service offerings by key market players. Additionally, it is useful at the tele intensive care as it transfers the patient's data quickly to the intensivist at a distant location and helps the ICU members at the hospital in the treatment of the patient.

Q8. In telemedicine market, which region is expected to be the largest in next 5 years?

Answer: North America remains the largest region due to rising digitalization across healthcare, advanced healthcare facilities, and the adoption of telemedicine solutions.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the telemedicine market by component (product and services), product type (tele-hospital and tele-home), modality (store & forward, real-time, and others), delivery mode (web/mobile and call centers), application (teleradiology, telepsychiatry, telepathology, teledermatology, telecardiology and others), end use industry (providers, payers, patients, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?