Telemedicine Services Market Outlook 2030 Analysis by Top Manufacturers - Philips Healthcare; Teladoc; McKesson Corporation

The Telemedicine Services Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2030. The Telemedicine Services Market report is a valuable source of data for business strategists. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). The report explores the current outlook in global and key regions from the perspective of players, countries, product types, and end industries. This Telemedicine Services Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The global telemedicine services market is expected grow from $39.3 billion in 2019 to $48.3 billion in 2020 at a compound annual growth rate (CAGR) of 23.0%. The growth is mainly due to the lockdown across countries owing to the COVID-19 outbreak and the preference for contactless medical services. The market is then expected to stabilize and reach $78.3 billion in 2023 at CAGR of 17.4%.

Top Companies: AMD Global Telemedicine, Inc; Philips Healthcare; Teladoc; McKesson Corporation; Allscripts Healthcare Solutions Inc.

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Industry News:

Philips enables hospitals and GPs to remotely screen and monitor patients with COVID-19

Amsterdam, the Netherlands Apr 01, 2020 : Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it can help general practitioners and healthcare institutions manage the increased patient flows resulting from the COVID-19 outbreak through a dedicated and scalable telehealth solution that facilitates the use of online screening, follow-up questionnaires and monitoring, and external call center collaborations. It aims to prevent unnecessary visits to general practitioners and hospitals and enables the remote monitoring of the vast majority of COVID-19 patients that are in quarantine at home. 

Philips provides healthcare institutions with telehealth solution to process high volume coronavirus-related healthcare requests via online screening, and supports healthcare providers in the use of external call centers to offer the correct care to patients

Teladoc Health Launches Telemedicine Service in Canada, Expanding Portfolio of Available Healthcare Solutions

TORONTO, March 28, 2019: Teladoc Health (NYSE: TDOC), the global leader in virtual care, announces today the launch of Teladoc Telemedicine Services, the first-of-its-kind offering to provide Canadians with 24x7 access to convenient, high-quality medical care regardless of their location across the country or in the U.S. The new service addresses head-on the healthcare access issues Canadians are facing in terms of overcrowded emergency rooms, physician shortages, and long wait times, which have been persistent in rural and urban areas alike. It also supports efforts of employers to address illness-related productivity issues.

Report Description:

The telemedicine services market consists of sale of telemedicine services and related products. Telemedicine services are health care services provided via video chat, phone calls, text messages. Patients can use telemedicine for physical examination as well as to ask questions regarding health concerns.

North America was the largest region in telemedicine services market in 2019.

Telemedicine is increasingly being accepted and insurance companies and government-regulated health care programs are increasingly covering telemedicine services in their plans. The governments are probing companies to make changes to the policies to cover the services under their schemes. For instance, in March 2020, in response to the corona virus outbreak, the USA government announced that private insurers will be covering the cost of coronavirus testing and telemedicine services for patients.

The telemedicine services market covered in this report is segmented by technology outlook into store and forward; real time and by application into teleradiology; telepsychiatry; telepathology; teledermatalogy; telecardiology.

Breach in the data makes the patients uncomfortable on sharing personal information that would help the physicians to diagnose the patients' health, affecting the telemedicines market negatively. Telemedicine services are provided online or through calls and might not have much security for storing the data, or in some cases the telemedicine companies may use third-party servers to store the customer data to cut down the maintenance cost, which might lead to easy data breaches. For instance, in 2018, the USA has reported around 31.6 million healthcare records breached. Protenus' Breach Barometer in the first six months of 2018 recorded around 15.1 million breached records by hackers. Breaches are potential threats to the telemedicine services industry hampering the growth of the market.

In March 2019, Teladoc health, a leading virtual care provider announced plans to acquire Medecin Direct for undisclosed amount. This acquisition will expand the geographical presence of Teladoc Health and help cover more patients in France. Medecin Direct is a leading telemedicine service provider in France.

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Scope of the Report:

Markets Covered:
1) By Technology outlook: Store and Foreward; Real time
2) By Application: Teleradiology; Telepsychiatry; Telepathology; Teledermatalogy; Telecardiology

Metrics Covered: Number of Enterprises; Number of Employees

Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam

Regional Analysis: For a comprehensive understanding of market dynamics, the global Telemedicine Services Market is analyzed across key geographies namely: United States, China, Europe, Japan, Middle East & Africa, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.

What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: The Global Telemedicine Services Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Finally, The Telemedicine Services Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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