The global telemedicine market size was USD 68.61 Billion in 2022 and is expected to register a revenue CAGR of 26.3% during the forecast period.
- The mhealth segment accounted for the largest revenue share in 2022.
- The global telemedicine market is segmented into teleradiology, telepathology, teledermatology, telecardiology, telepsychiatry, and other applications.
- Teledermatology segment is gaining traction over the forecast period owing to lack of dermatologists and increasing rate of skin diseases.
- The global telemedicine market is segmented into cloud-based, and on-premise. Cloud-based telemedicine or telecloud segment accounted for largest revenue share in 2022.
- On-premise segment is expected to register a steady revenue growth rate over the forecast period.
- Based on regional analysis, the telemedicine market in North America accounted for the largest revenue share in 2022.
Request a Sample@ https://www.qyresearchmedical.com/sample/119580
Report Scope of the Telemedicine Market:
|The market size value in 2022||USD 68.61 Billion|
|CAGR (2023 – 2032)||26.3%|
|The Revenue forecast in 2032||USD 565.81 Billion|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Increasing need for treatment and remote diagnosis of various chronic diseases such as diabetes, cancer, and heart diseases, among others, growing concerns regarding Hospital Acquired Infections (HAI), technological advancements in telehealth and telecommunication industries such as introduction of chatbots, and incorporation of Artificial Intelligence (AI) among others are some of the key factors expected to drive market revenue growth. In addition, rising awareness about benefits of telemedicine such as cost-effectiveness and increasing aids and grants by governments of various countries across the globe to encourage telemedicine industry, especially in pandemic and post-pandemic times are some other factors expected to drive revenue growth of the market over the forecast period.
On 16 March 2022, US President Biden signed the Consolidated Appropriations Act of 2022 into law which covers various measures that extend the Medicare telehealth permits and flexibilities, which were adopted as a result of COVID-19 outbreak to improve access to care, for a further 151 days after the Public Health Emergency (PHE) ends, roughly a five-month span.
In March 2020, the US Department of Health and Human Services (HHS) issued a notice allowing healthcare personnel to use video conversations through Zoom, Skype, Apple Facetime, Hangouts Messenger, and Facebook Messenger, among others to provide virtual consultations and therapeutic solutions. Additionally, Department of Health and Human Services also suggested healthcare practitioners inform patients regarding privacy risks while using these third-party applications and that while using such apps, doctors should activate all encryption and privacy options. Implementation of such regulations is driving adoption of telemedicine globally.
Telemedicine services are being widely used, especially since COVID-19 pandemic. Telemedicine industry includes a wide range of clinical care and services, including mental health counselling, virtual consultations with medical specialists, digital interpretation of lab or x-ray results, and remote health condition monitoring, in addition to emergency care. Insurance companies are increasingly extending their support to this type of health care. Adoption of telemedicine services have increased and have proven to be efficient, due to which the trend of using these services is expected to gain traction in the years to come. For example, Medicare, which is a government national health insurance program in the United States, covers virtual check-ins with patients, e-visits, and mental health condition treatments, resulting in successful health reimbursement schemes and insurance coverages.
Increasing acceptance of telehealth and telemedicine technology for personal medical care among individuals globally is supporting market revenue growth to a significant extent. For instance, Telehealth patient monitoring for diabetic retinopathy reduced patient visits by 14,000 visits, according to the Los Angeles Country Health Services. Blue Cross and Blue Shield of North Carolina made reimbursement in telemedicine industry and enabled doctor visits through video conferencing and phone calls in the same manner as face-to-face sessions are conducted. They planned this program till March 2020; however, later they extended it till 30 September 2022 as a result of increased demand and need.
The market scenario is changing, and the market is expected to be more fragmented and highly competitive in the days to come, as medium and small-scale telemedicine companies are entering the regional and global market with funding from private equity firms. Some major companies in the global market report include Teladoc Health, MDLive, Doctor on Demand, IcliniQ, Amwell, MeMD, Plushcare, Health Tap, Virtu Well, and United Health Group.
Telemedicine Market Segmentations:
|By End-use||By Application||By Mode of Delivery||Regional scope|
|Hospitals and Healthcare Facilities
Middle East & Africa
Buy quantitative research Report at discounted price – USD 1599 https://www.qyresearchmedical.com/report/checkout/119580/
You can place an order or ask any questions, please feel free to contact email@example.com | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us: