North America Telemedicine Market is set for Rapid Growth and Demand by 2028: Exclusive Report by Business Market Insights

The telemedicine market in North America is expected to grow from US$ 22,556.58 million in 2021 to US$ 74,682.98 million by 2028; it is estimated to grow at a CAGR of 18.7% from 2021 to 2028. Social distancing is one of the major strategies adopted by various countries to contain the spread of COVID-19 infection. Among such circumstances, telemedicine is proving key expertise to get health consultations. Increasing number of people are opting for virtual visits for health check-ups. For instance, in March 2020, Teladoc, one of the leading companies offering virtual care, announced that it received ~15,000 virtual visit requests in a single day. High number of patients requesting virtual visits and increasing influence of self-quarantine and social distancing. Telehealth has emerged as an essential component of healthcare amid the COVID-19 pandemic.

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Key companies profiled in this research study are:
Allscripts Healthcare Solutions, Inc.
Amd Global Telemedicine, Inc.
American Well Corporation
Cerner Corporation
Cisco Systems, Inc.
Eagle Telemedicine Solutions Llc
Honeywell International, Inc.
Insight
Koninklijke Philips N.V
McKesson Corporation
Teladoc Health

The COVID-19 pandemic has resulted in a significant increase in the reliance on telemedicine and telehealth for the provision of health care services. COVID-19 has caused a massive acceleration in the use of telehealth. Consumer adoption has skyrocketed, from 11 percent of US consumers using telehealth in 2019 to 46 percent of consumers now using telehealth to replace canceled healthcare visits. For instance, according to a report published by the US National Library of Medicine, National Institutes of Health in November 2020, "as Coronavirus continues to spread, many hospitals and physician practices have transitioned to telemedicine to conduct nonessential appointments.

A study of NYU Langone Health trends (New York, NY, USA) showed a decline of 80% in in-person visits and a 683% increase in telemedicine visits between March 2 and April 14, 2020. As the number of COVID-19–infected patients increase, using computers and tablets for telemedicine can also reduce staff exposure in ambulances and hospitals. It is expected that demand for these services will increase dramatically in the US over the next few months, with shares of one telehealth provider, Teladoc Health Inc., increasing almost 50% since the start of 2020. Hospitals and health systems are already encouraging people with suspected COVID-19 symptoms to use telehealth services to limit people's flow to already crowded emergency rooms and doctor surgeries. Therefore, the growing demand for telemedicine during COVID-19 in North America is likely to boost the growth of the telemedicine market.

North America Telemedicine Market Segmentation:

North America Telemedicine Market - By Type
Telehospital
Telehome

North America Telemedicine Market - By Product and Services
Software and Hardware
Tele-Consulting
Tele-Monitoring
Tele-Education/Training

North America Telemedicine Market - By Specialty
Cardiology
Gynecology
Neurology
Orthopedics
Dermatology
Mental Health
Others

North America Telemedicine Market - By Delivery Mode
Mobile
Call Centres
Web

North America Telemedicine Market - By Country
US
Canada
Mexico

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Major Features of North America Telemedicine Market Report:
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Telemedicine Market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America Telemedicine Market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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This release was published on openPR.