Global Telemedicine Market Revenue All Set to Surpass the US$152 Bn Mark in 2025, Foresees Fairfield Market Research

London, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Between 2021 and 2025, global telemedicine market is poised to exhibit more than 1.8x expansion in revenue, suggests a new report released by Fairfield Market Research. The report forecasts a solid 19% CAGR for the telemedicine market during the projection period and states that the digital transformation of healthcare industry will serve as a continuous driving force for the telemedicine market. Greater user convenience, and faster medical service delivery remain the top advantages driving demand for telemedicine worldwide. The COVID-19 pandemic acted as a super-catalyst for the market, says the report. Increasing integration of telemedicine into the existing health systems heightens the scope of growth for the market. Whereas the broadening connectivity of electronic health records (EHRs) further tend to push the growth prospects of the market. Telemedicine market is likely to continue witnessing mounting adoption in line with growing demand for superior remote patient care, and expert remote assistance.

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Key Research Insights

• Telemedicine market size is expected to reach around US$152.1 Bn through the end of 2025
• Adoption is poised to rise high at a noteworthy CAGR of 19% over 2021 - 2025
• Demand for telemedicine services dominant with a revenue share of more than 55%
  
  

Insights into Segmental Analysis

Teleradiology continues to be the highest revenue generating segment in global telemedicine market owing to the escalating adoption of picture archiving and communication systems (PACS) technology. Increasing R&D activities around teleradiology efficiency will further account for an increased revenue share of teleradiology in the market. On the other hand, hospitals remain the top end user, especially owing to adoption at emergency care departments. An increasing number of hospitals are leveraging the benefit of e-health technologies to extend telemedicine services to their OPDs and post-hospitalization care units.

Key Report Highlights

• Teleradiology continues to be the top revenue generator for telemedicine market
• North America’s primacy prevails in global landscape, favourable reimbursement scenario accounts for the region’s lead
• Growing markets of automatic insulin pumps, digital blood pressure cuffs, and digital heart rate monitors promote remote patient monitoring, thus favouring telemedicine market
  
  

Insights into Regional Analysis

The fact that the US alone recorded a massive 40% rise in demand for telehealth consultations in April 2020 against the conventional physician visits warrants the growing prominence of the US, thereby North America in the global telemedicine market. North America’s telemedicine market will remain the top investment pocket globally as the region continues to see notably growing preference for telemedicine over the recent past. The report also highlights growing market attractiveness of Asia Pacific as the region experiences rapid advancements in the field of digital imaging. An improving rate of acceptance of telemedicine among general population will predominantly form a strong base of telemedicine market across Asia Pacific.

Key Companies in Global Telemedicine Market

Some of the major players that have been considered for strategic profiling include Allscripts Healthcare Solutions Inc, 2nd.MD, American Well, AMD Global Telemedicine, BioTelemetry, Blue Sky Telehealth, Cisco Systems, Doctolib, Cerner Corporation, Eagle Telemedicine, Honeywell International Inc, InTouch Technologies, iCLiniq, InSight, Koninklijke Philips N.V., McKesson Corporation, MeMD, MDLive, OBS Medical, SOC Telemed, Polycom Inc., Teladoc Health, Specialist Telemed, and VirTrial, LLC.

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REPORT SCOPE

Market Segmentation

Component

• Hardware
• Software
• Services
  
  

Specialty

• Teleradiology
• Telepathology
• Teledermatology
• Telepsychiatry
• Telecardiology
• Others

Modality

• Store & forward
• Real-time Interaction
• Remote patient monitoring
• Others

End User

• Hospitals
• Home Care Settings

Geographical Coverage

• North America
• Europe
• Latin America
• Middle East & Africa

Leading Companies

• 2nd.MD
• Allscripts Healthcare Solutions Inc.
• AMD Global Telemedicine
• American Well
• BioTelemetry
• Cerner Corporation
• Cisco Systems
• Doxy.me
• Honeywell International Inc.
• Koninklijke Philips N.V.
• McKesson Corporation
• MDLive
• Polycom Inc.
• Teladoc Health
• Vidyo
• VirTrial, LLC
• vRad (MEDNAX)
  
  

Report Inclusions

• Market Estimates and Forecast
• Market Dynamics
• Industry Trends
• Competition Landscape
• Technology-wise Analysis
• Application-wise Analysis
• Region-wise Analysis
• Country-wise Analysis
• Key Trends Analysis
• COVID-19 Impact Analysis

About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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