The Global Telemedicine Service Market to Grow at a Significant CAGR of 14.69% During the Forecast Period (2022–2027) | DelveInsight
The telemedicine service market is expected to surge owing to the population's shifting focus on cutting healthcare costs, as well as the global epidemic of COVID-19. Furthermore, an increase in various chronic disorders around the world and various national government initiatives to launch telemedicine services to provide increased access among the patient population are expected to boost demand for these telemedicine services during the forecast period (2022–2027).
New York, USA, Aug. 22, 2022 (GLOBE NEWSWIRE) -- The Global Telemedicine Service Market to Grow at a Significant CAGR of 14.69% During the Forecast Period (2022–2027) | DelveInsight
The telemedicine service market is expected to surge owing to the population's shifting focus on cutting healthcare costs, as well as the global epidemic of COVID-19. Furthermore, an increase in various chronic disorders around the world and various national government initiatives to launch telemedicine services to provide increased access among the patient population are expected to boost demand for these telemedicine services during the forecast period (2022–2027).
DelveInsight's Telemedicine Service Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, telemedicine service market drivers, barriers, and trends, and key telemedicine service companies in the market.
Key Takeaways from the Telemedicine Service Market Report
As per DelveInsight estimates, North America is anticipated to dominate the global telemedicine service market during the forecast period.
Notable telemedicine service companies such as Teladoc Health, Inc., MEDICI, American Well, Doximity, Inc., Practo., DocOnline, MeMD®, iCliniq, HealthTap, Inc., WELL Health Technologies Corp., Doctor On Demand (Included Health, Inc.), Vesta Teleradiology, USARAD.COM, AGOKO NV, Nischidha Imaging Services, Array Behavioral Care., SOC Telemed, Smart Telecardiology (Heidelberg Medical Consultancy & Health Tourism Pvt. Ltd.), First Derm, DirectDerm, and several others are currently operating the telemedicine service market.
In July 2021, Cairo-based e-health and teleconsultations platform, Estshara raised a USD 500,000 seed funding round to expand its user base by providing extra offerings and customer care activities.
In January 2020, Teladoc Health, Inc., the global leader in virtual care, entered into a definitive agreement to acquire InTouch Health, the leading provider of enterprise telehealth solutions for hospitals and health systems.
In November 2020, Morneau Shepell, a leading provider of total wellbeing, mental health, and digital mental health services, launched its first unified telemedicine solution in the United States.
To read more about the latest highlights related to the telemedicine market, get a snapshot of the key highlights entailed in the Global Telemedicine Service Market Report
Telemedicine Service
Telemedicine, commonly referred to as e-medicine, is the remote delivery of healthcare services such as consultations, examinations, and monitoring over telecommunication infrastructure. This service enables healthcare experts to examine, diagnose, and treat patients without seeing them in person.
Telemedicine has the potential to lower medical expenses, increase efficiency and profitability, and provide patients with improved access to medical services. This will have a favorable impact and propel the telemedicine market forward.
Telemedicine Service Market Insights
North America is predicted to have a significant proportion of the global telemedicine services market in 2021 and will continue to do so during the forecast period of 2022 to 2027. This dominance is attributed to the region's healthcare sector's increased digitalization. Furthermore, an increase in strategic collaboration among hospitals, companies, and various associations to develop telehealth strategies to connect with patients in remote locations during the pandemic has increased the telemedicine service market in the region and is expected to boost telemedicine service market growth in the coming years.
Moreover, the government initiative to expand regional use of telemedicine services is expected to strengthen the telemedicine service market. Additionally, the presence of prominent telemedicine service providers such as Teladoc Health, MDLive, MeMD, and others, as well as their focus on expanding telemedicine services in the region, is expected to promote the adoption of these services in the region, hence fueling the telemedicine service market in the coming years.
To know more about why North America is leading the market growth in the telemedicine service market, get a snapshot of the Telemedicine Service Market Trends
Telemedicine Service Market Dynamics
The telemedicine service market is currently gaining traction, owing to the rising burden of numerous chronic diseases and an increase in out-of-pocket expenditure, which has significantly boosted healthcare costs globally. Furthermore, the unexpected advent of the COVID-19 pandemic has raised the global adoption of telemedicine services many folds. This is because, in order to reduce the spread of COVID-19 infection, telemedicine has developed as a crucial component of healthcare. As a result, the growth in telemedicine initiatives by various governments, as well as the factors as mentioned earlier, are likely to drive the telemedicine service market during the forecast period of 2022-2027.
However, obstacles such as privacy issues and a lack of awareness among the population living in distant places are projected to hinder the telemedicine service market.
Get a sneak peek at the telemedicine service market dynamics @ Best Telemedicine Services
Scope of the Telemedicine Service Market Report
Coverage: Global
Study Period: 2019–2027
Market Segmentation By Service Types of Telemedicine Services: Tele Consulting and Tele Monitoring
Market Segmentation By Application: Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, Other Services
Market Segmentation By End User: Healthcare Facilities and Homecare
Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
Key Telemedicine Service Companies: Teladoc Health, Inc., MEDICI, American Well, Doximity, Inc., Practo., DocOnline, MeMD®, iCliniq, HealthTap, Inc., WELL Health Technologies Corp., Doctor On Demand (Included Health, Inc.), Vesta Teleradiology, USARAD.COM, AGOKO NV, Nischidha Imaging Services, Array Behavioral Care., SOC Telemed, Smart Telecardiology (Heidelberg Medical Consultancy & Health Tourism Pvt. Ltd.), First Derm, DirectDerm, among others
Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
DelveInsight Analysis: The telemedicine service market size is expected to grow at a CAGR of 14.69% to reach USD 13.5 billion by 2027.
Which MedTech key players in the telemedicine service market are set to emerge as the trendsetter explore @ Telemedicine Consulting Services
Table of Contents
1 | Report Introduction |
2 | Executive summary |
3 | Regulatory and Patent Analysis |
4 | Key Factors Analysis |
5 | Porter’s Five Forces Analysis |
6 | COVID-19 Impact Analysis on Telemedicine Service Market |
7 | Telemedicine Service Market Layout |
8 | Global Company Share Analysis – Key 3-5 Companies |
9 | Telemedicine Service Market Company and Product Profiles |
10 | Project Approach |
11 | About DelveInsight |
Interested in knowing the telemedicine service market by 2027? Click to get a snapshot of the Telemedicine Technologies and Services Market Scenario
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