With 20% CAGR, Global Telemedicine Market Size Value Set to Grow USD 150 Billion by 2026: Facts & Factors

New York, NY, June 22, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Telemedicine Market By Component (Product Type (Software, and Hardware), Services (Tele Consulting, Tele Monitoring, Tele Education, and Tele Training)), By Modality (Real-time, Store-and-Forward, and Others), By Specialty Areas (Neurology, Orthopedics, Gynecology, Cardiology, Radiology, Pathology, Psychology, Dermatology, and Others), By End–Users (Providers, Payers, Patients, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.

“According to the recent research report, the demand of global Telemedicine Market size & share expected to reach to USD 150 Billion by 2026 from USD 40 Billion in 2019, at a compound annual growth rate (CAGR) of 20% during the forecast period 2020 to 2026”

Global Telemedicine Market: Overview

Telemedicine is a basic requirement for the remote provision of health services such as physical examinations or telephony consultations. It’s being used to help patients using the latest technology such as smartphones, and video conferencing along with the use of various audio, and visual means. It is an absolute necessity experienced in emergencies as healthcare providers cannot regularly visit their patients in person. The two-way communication between the patient and the health care provider is generated.

In view of the COVID-19 pandemic, health organizations are offering virtual appointments and widening their telehealth options. It has been used to address geographical barriers and increase access to medical facilities that are not always accessible in remote rural areas. It’s also used in critical care and emergency cases to save lives.

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Our Free Sample Report Includes:

• 2020 Updated Report Introduction, Overview, and In-depth industry analysis
• COVID-19 Pandemic Outbreak Impact Analysis Included
• 225+ Pages Research Report (Inclusion of Updated Research)
• Provide Chapter-wise guidance on Request
• 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
• Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Industry Major Market Players

• Bio Telemetry
• Allscripts Healthcare Solutions Inc.
• AMD Global Telemedicine
• Chetu
• Babylon
• MDlive Inc.
• SteadyMD Inc.
• Maven, Inc.
• iCliniq
• HealthTap, Inc.
• Doctor On Demand Inc.
• Teladoc Health Inc.
• Synapse Medicine
• American Well

To know an additional revised list of 2020-2021 top market players, request a sample report: https://www.fnfresearch.com/sample/telemedicine-market                               

Key questions answered in this report:

• What is the projected market size & growth rate of the Telemedicine Market?
• What are the key driving factors for the growth of the Telemedicine Market?
• What are the top companies operative in Telemedicine Market?
• What segments are covered in Cannabis in Telemedicine Market?
• How can I get free sample report/company profiles of the Telemedicine Market?

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Market Dynamics
The use of telemedicine systems has increased as the number of covid-19 positive cases and a growing number of chronic respiratory diseases. Patients with flu-like indications are using telemedicine systems to receive healthcare facilities from a distance. Furthermore, telemedicine service providers are reporting an increase in virtual visits as a result of the COVID-19 pandemic. To meet the rising demand, these businesses are expanding their capacity to handle thousands of virtual visits every day, pushing the market forward. In addition, during the COVID-19 pandemic, telemedicine was widely used to reduce interaction with healthcare facilities, healthcare workers, and patients in order to reduce the risk of COVID-19. During the pandemic in China, online mental health surveys and networking platforms like Weibo, TikTok, and WeChat, among others, aided health officials and mental health practitioners in providing secure mental health services online. During the COVID-19 pandemic, such factors aided business development.

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Global Telemedicine Market: Growth Factors

The global market for telemedicine is driven mainly by rising health care costs, technological changes, increasing remote monitoring of patients, and the growing burden of chronic disease. The unexpected global coronavirus outbreak is expected to boost the use of telemedicine as these solutions encourage patients to communicate effectively during the pandemic and provide better solutions to their health concerns. Due to the social distance between several countries around the world, the provision of virtual care is moving forward as an effective solution to safe and better communication. The WHO mentioned telemedicine in its response to the COVID-19 crisis as one of the key services.

Global Telemedicine Market: Segmentation

The global telemedicine market is segmented based on various factors. The market is segregated into components, modalities, specialty areas, and end-users. Based on the Component, the market is divided into product types, and services. Further, the product segment is classified into software and hardware. The service segment is divided into tele-consulting, telemonitoring, tele-education, and tele-training. In terms of modality, it is segregated into real-time, store-and-forward, and others. Radiology, neurology, gynecology, orthopedics, cardiology, pathology, psychology, dermatology, among others, are the areas in which telemedicine is applied. The end-users of the market are providers, payers, and patients among others.

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North America is projected to Dominate Global Telemedicine Market Growth

In 2019, North America dominated the global telemedicine market in recent years followed by Europe. The growth of these regions is mainly attributed to the growing cloud-based technology in healthcare, these regional markets are expected to exhibit similar trends during the forecast period. As a result of ongoing research and development in the telemedicine area, North America is expected to have the largest market share in the world. Due to increased demand for telemedicine and health care, emerging regions such as the Asia Pacific, the Middle East, and Africa are expected to see positive development, especially in rural areas.

Browse the full“Telemedicine Market By Component (Product Type (Software, and Hardware), Services (Tele Consulting, Tele Monitoring, Tele Education, and Tele Training)), By Modality (Real-time, Store-and-Forward, and Others), By Specialty Areas (Neurology, Orthopedics, Gynecology, Cardiology, Radiology, Pathology, Psychology, Dermatology, and Others), By End–Users (Providers, Payers, Patients, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/telemedicine-market

The global telemedicine market is segmented as follows:

By Components:

• Product Type
• Services
  • Tele Consulting
  • Tele Monitoring
  • Tele Education
  • Tele Training

By Modality:

• Real-time
• Store-and-Forward
• Others

By Specialty Areas:

• Neurology
• Orthopedics
• Gynecology
• Cardiology
• Radiology
• Pathology
• Psychology
• Dermatology
• Others

By End User:

• Providers
• Payers
• Patients
• Others

Key Highlights of this Report:

• Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
• Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
• Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
• Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
• Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
• Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data

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