Business impacts of COVID-19 on Telemedicine Market. Strategies of Major Industry Competitors McKesson, Medtronic, Cerner Corporation, Honeywell, Intouch Technologies Inc., Aerotel Medical Systems, AMD Global Telemedicine, Inc.

As per a P&S Intelligence report, the global telemedicine market reached a value of $21.5 billion in 2017 and is expected to generate a revenue of $48.8 billion by 2023, progressing at a 14.8% CAGR during the forecast period (2018-2023).

Global Telemedicine Market Key Players are:
1- McKesson
2- Medtronic
3- Cerner Corporation
3- Honeywell
4- Intouch Technologies Inc.
5- Aerotel Medical Systems
6- AMD Global Telemedicine, Inc.

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The major services offered by the telemedicine technology are tele-training, tele-consulting, tele-education, and tele-monitoring. The largest demand in the coming years is projected to be created for tele-monitoring services in the coming years, which is ascribed to the rising need for patient monitoring services in remote areas.

The need for tele-hospital and clinic type was larger in the past, owing to the surging prevalence of health conditions associated with lifestyle changes. Apart from this, the tele-home services are also projected to gain traction in the near future because of patient benefits, such as shorter hospital stays, remote monitoring of health conditions, and enhanced access to healthcare professionals. Telemedicine services are offered on the basis of different specialties, namely orthopedics, dermatology, neurology, gynecology, and cardiology. Telemedicine was used the most for dermatology in the past, which is attributed to the growing prevalence of skin diseases and increasing healthcare expenditure.

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Geographically, North America has been the largest user of the telemedicine technology in 2017 due to the advanced healthcare infrastructure, rising spending in the healthcare sector, growing prevalence of skin and chronic diseases, and presence of major companies in the region. Other than this, the Asia-Pacific (APAC) region is predicted to emerge as the fastest growing telemedicine market in the coming years, which is attributed to the rising adoption of technologically advanced products and rapidly improving healthcare infrastructure in the region. In addition to this, the geriatric population is also growing in APAC, primarily in Japan, which is further expected to lead to growing adoption of telemedicine.

Based on Type
o Tele-hospital and clinic
o Tele home
Based on Service
o Tele-consulting
o Tele-monitoring
o Tele-education
o Tele-training
o Others (tele-care and tele-surgery)
Based on Specialty
o Dermatology
o Gynecology
o Cardiology
o Neurology
o Orthopedics
Geographical Analysis
o North America
o U.S.
o Canada
o Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Asia-Pacific (APAC)
o Japan
o China
o India
o Latin America
o Brazil
o Mexico
o Middle East and Africa (MEA)
o South Africa

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This release was published on openPR.