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U.S. telemedicine market 2019| Growth, Status and Forecast by 2025

02-04-2020 06:12 PM CET | Health & Medicine

Press release from: Global Market Insights

U.S. Telemedicine Market

U.S. Telemedicine Market

Web/Mobile delivery segment accounted for a significant chunk of the U.S. telemedicine market, holding maximum revenue of over $11.9 billion in 2018. The Web based telemedicine delivery platform is now a standardized infrastructure that is used to provide access to sophisticated telemedicine applications. The web segment can be beneficial for the organizations having issues with offering healthcare services to patients living in remote areas. Additionally, increasing adoption of the web segment across the United States should drive the growth of segment which should further establish a distinguished U.S. telemedicine market growth trends during the forecast timespan.

Increasing occurrence of chronic diseases is among the most prominent factors that have created an ideal growth ground for the telemedicine market. Growing cases of chronic diseases are creating a growing need for the adoption of telemedicine services to offer better home supervision, which should further drive the U.S. telemedicine market outlook over the forthcoming time period.

An increasing number of patients suffering from a variety of chronic diseases such as diabetes, cancer and heart disorders are expected to impel the need for telemedicine services across the United States.

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Additionally, growing adoption of unhealthy habits like alcohol consumption and tobacco smoking and a lifestyle that is becoming increasingly sedentary, are among some of the most prominent factors that are contributing towards the growing prevalence of various chronic diseases. In fact, according to 2017 CDC data, approximately 14 out of 100 people across the United States above the age of 18 smoked cigarettes.

The tele-consulting service segment is projected to hold a valuation of $28.1 billion by 2025. The tele-consulting segment is expected to witness an exponential growth over the forthcoming years due to the rapidly growing telecommunication infrastructure. Tele-consulting offers various consultation services for a wide spectrum of imaging modalities, a plethora of therapeutic indications and numerous different reading methodologies.

Growing applications of tele-consulting would exponentially impact on the telemedicine market growth during the analysis timespan, boosting industry expansion in the process.

In terms of component, the hardware subsegment is expected to witness exponential growth over the forecast timespan, recording a CAGR of 18.7%. There is an increase in the usage of telemedicine devices such as smartphones and tablets among others; which is a crucial factor that should significantly drive the segment growth over the forthcoming years. Additionally, numerous advancements in technology across the healthcare sector is also one of the major factors stimulating the hardware segment growth.

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Telehome segment primarily caters to patients that are suffering from chronic diseases and are advised to not travel frequently. The telehome segment is slated to experience exponential growth of 18.9% over the forthcoming years. Implementation of telehome services is expected to rise owing to the advantages that it offers.

According to the latest research report by Global Market Insights Inc., the U.S. telemedicine market is projected to surpass a valuation of $64 billion by 2025.
Telehome services provide opportunities to enhance patient care alongside substantial cost savings for patients choosing treatment at home, thereby driving the demand for telehome services, which should further drive the growth of U.S. telemedicine industry.

Browse Report Summary @ Report Content
Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary Paid sources Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. U.S. telemedicine industry 3600 synopsis, 2014 - 2025
2.1.1. Business trends
2.1.2. Service trends
2.1.3. Type trends
2.1.4. Specialty trends
2.1.5. Component trends
2.1.6. Delivery mode trends
Chapter 3. U.S. Telemedicine Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025
3.3. Industry impact forces
3.3.1. Growth drivers Increasing prevalence of chronic diseases Growing number of smartphone users Technological advancements related to mobile phones and internet Greater need for cost-saving in healthcare delivery Long waiting time in hospitals for disease treatment Favorable government initiatives
3.3.2. Industry pitfalls & challenges Security and privacy concerns Stringent regulatory policies and limited reimbursement in the U.S.
3.4. Growth potential analysis
3.4.1. By service
3.4.2. By type
3.4.3. By specialty
3.4.4. By component
3.4.5. By delivery mode
3.5. Reimbursement scenario in U.S.
3.6. Penetration/adoption in U.S. hospitals
3.7. Telemedicine modalities
3.8. Government initiatives
3.8.1. U.S. Department of Agriculture (USDA) Initiative
3.8.2. Rural Health Care (RHC) Program
3.8.3. U.S. Department of Defense Initiative
3.9. Telemedicine future trends
3.10. Porter's analysis
3.11. Competitive landscape, 2017
3.11.1. Strategy dashboard
3.12. PESTEL analysis

More insightful info:

Some of the most prominent players responsible for the growth of the U.S. telemedicine market are American Well, Allscripts Healthcare Solutions Inc, AMD Global Telemedicine, Cerner Corporation, Cisco Systems, BioTelemetry, Honeywell International Inc, InTouch Technologies, Eagle Telemedicine, SOC Telemed, Specialist Telemed and InSight.
Acquisitions, new product launch, mergers and regional expansions are the primary business strategies implemented by market participant firms.

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Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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