Medical Health & Life Science Research News

Research delivers insight into the growth of telemedicine market trends, share, industry size, opportunities and forecast 2017-2024

Medical Market Research

Telemedicine refers to use of telecommunication and information technology to provide clinical health care from a distance. 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.

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“Global Telemedicine Market Analysis & Opportunity Outlook 2024”

Telemedicine Market Overview

Telemedicine refers to use of telecommunication and information technology to provide clinical health care from a distance. Further, telemedicine has been used to overcome distance barriers and to improve access to medical services that would often not be consistently available in distant rural communities.

Apart from this, telemedicine is used to save lives in critical care and emergency situations.

Market Size and Forecast

The global telemedicine market is anticipated to flourish at a CAGR of 14.8% over the forecast period i.e.

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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. Factor such as, rising emergency medical incidents and ageing world population is anticipated to drive the growth of the Global Telemedicine Market over the forecast period.

Geographically, North America is anticipated to account for a significant portion of market share in the overall market of global telemedicine over the forecast period. Further, factor such as presence of refined medical services and high patient alertness is expected to increase the growth of North America telemedicine market during the forecast period.

Moreover, U.S. is expected to be the largest telemedicine market in North America over the forecast period.

Europe telemedicine market is expected to witness substantial growth over the forecast period. Factor such as, rising cost of healthcare and rising prevalence of chronic diseases is anticipated to drive the growth of liquid packaging market in Europe in the upcoming years.

Asia-Pacific is poised to record the fastest growth over the global telemedicine market over the forecast period. Factor such as, increase in population and improving access to healthcare in some of the major countries such as India, China, Japan is anticipated to drive the growth of the telemedicine in Asia Pacific during the forecast period.

Based on type, telemedicine market is segmented into, telehospitals/teleclinics, telehome and m-health (mobile health), out of which, telehospitals/teleclinics segment is expected to dominate the growth of the global telemedicine market during the forecast period.

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By Region

Global telemedicine market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis

Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis

Europe (U.K., Germany, France, Italy, Spain, Hungary, Russia, Turkey, BENELUX, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis

Asia-Pacific (China, India, Japan, South Korea, Singapore, Australia, New Zealand, Malaysia & Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis

Middle East and North Africa (GCC, Israel, North Africa, South Africa & Rest of Middle East) Market Size and Y-O-Y Growth Analysis

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Growth Drivers and Challenges

Factor such as, increasing technological innovation in the field of medical device and services across the globe are anticipated to intensify the growth of the global telemedicine market during the forecast period. In addition, rising geriatric population coupled with rising prevalence of chronic diseases is estimated to positively drive the growth of the telemedicine market over the forecast period.

Apart from this, increasing government funding and grants for telemedicine is anticipated to be the dynamic factor behind the growth of the telemedicine market. Further, the need for improved healthcare quality service and increasing number of smartphone users is expected to supplement the growth of the global telemedicine market over the forecast period.

However, availability of telecommunication bandwidth and lack of skilled and trained professionals are some of the key factors which are expected to limit the growth of global telemedicine market over the forecast period.

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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...
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