Telemedicine Market: The NextGen Benefit of Healthcare with Primary Players - Honeywell Life Care Solutions, Medtronic, Philips Healthcare, GE Healthcare, Apollo Hospitals Enterprise Limited etc. by 2026

Industry Synopsis
The Global Telemedicine Market is accounted for $21.56 billion in 2017 and is expected to reach $93.45 billion by 2026 growing at a CAGR of 17.7% during the forecast period. Some of the key factors influencing the market growth include rising prevalence of chronic diseases, favorable government initiatives, telecommunication growth in BRIC countries and growing medicare reimbursement for telehealth services. However, privacy & security concerns and high infrastructure cost are hampering the market. In addition, growing acceptance of 4G and 5G spectrum provides huge opportunities for the players in the market.

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Industry Overview
Telemedicine is considered as the most adaptable technology accessible to deliver health education, health information and health care at a distance. Through the technologies, sophisticated patient centered care and increased access to remote locations is possible. It also helps in reducing emergency room visit and hospitalization rate, thus augmenting the market growth. Telemedicine serves as a provision for a variety of remote clinical services, which gain with the help of real-time, two-way communication between the patient and the healthcare provider. This involves the application of a variety of electronic, audio, and visual means.

Top Market Player’s
Some of the key players in global Telemedicine market are Honeywell Life Care Solutions, Cisco Systems, Inc., Medtronic, Philips Healthcare, GE Healthcare, Apollo Hospitals Enterprise Limited, Hoffmann-La Roche Ltd., McKesson Ltd., GlobalMedia Group LLC, SHL Telemedicine Ltd., InTouch Technologies, Snapmd Telemedicine Technology, Medisoft Telemedicine Pvt. Ltd., Cloudvisit Telemedicine, Haemonetics Corp., AMD Global Telemedicine Inc., Maestros Telemedicine, Allscripts Healthcare Solutions Inc., Aerotel Medical Systems and Bio Telemetry.

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Market Segments
Among the various services of telemedicine, tele-monitoring is expected to grow at the significant market share during forecast period. This can be attributed to the increasing geriatric and disabled populations who are commonly diagnosed with diabetes and cardiovascular complications. By geography, the Asia Pacific region exhibits fastest growth and is expected to lead the global market by the end of the decade due to increasing populations in rural & urban areas and augmented government initiatives. Moreover, the existence of a large number of technology developed units in this region offering cheaper equipments shall ensure steady market growth.

Components Covered:
• Software
• Services
• Hardware

Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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