Video Telemedicine Market is Projected to Show Significant Growth | At a CAGR of 15.9% - Reports and Data

The Video Telemedicine market size is estimated to reach USD 3.55 billion from USD 1.08 billion in 2019, delivering a CAGR of 15.9% till 2027. The market growth is driven by a plethora of factors, including increasing incidence rate of chronic conditions, expanding patient pool across the globe, the surging requirement for diverse healthcare services like radiology and cardiology, lack of healthcare professions and service providers in rural areas, among others.

Video telemedicine is the systematic blend of telecommunication and IT to provide healthcare services at distant or remote places. It enables healthcare professionals to share information at multiple locations, reducing outpatient visits, along with effectively reducing the overall cost of healthcare. The growing demand for healthcare services amongst patients living in isolated communities and remote areas is generating huge demand for video telemedicine services. Moreover, the lack of availability of skilled healthcare professionals in these areas is also bolstering the demand for video telemedicine market..

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Market Dynamics:

The pharma and healthcare sector has significantly advanced in the recent years and is expected to register steady revenue growth over the forecast period owing to rapid innovations in medical technology, increasing investments, rising healthcare expenditure and high adoption of advanced products and systems. Factors such as rising prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and neurological disorders across the globe, rising cases of coronavirus, improving healthcare infrastructure and research facilities, and increasing adoption of remote patient monitoring services and home care settings are expected to fuel global market revenue growth over the forecast period. In addition, increasing number of hospitals and ambulatory care centers worldwide, high demand for personalized medicine, increasing investments in drug discovery and growing investments by public and private sectors are expected to drive global market growth in the coming years.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Video Telemedicine market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Key players operating in the global video telemedicine market are Cisco Systems, Inc, Huawei Technologies Co. Ltd., AMD Global Telemedicine, Inc., Logitech, Plantronics, Inc., Cisco Systems, Sony Corporation, GlobalMed, Vidyo, Inc., Lifesize, Inc., ZTE Corporation and Vermont Telephone Company, Inc., among others.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Video Telemedicine Market Segmentation:

Component Outlook (Revenue, USD Billion; 2017-2027)
Services
Products

Communication Technology Outlook (Revenue, USD Billion; 2017-2027)
3G
4G
5G
Broadband ISDN
Satellite Communication
ADSL

Application Outlook (Revenue, USD Billion; 2017-2027)
Neurology & Psychiatry
Cardiology
Orthopedics
Dermatology
Radiology
Gynecology
Oncology
Dentistry
Pathology

End-User Outlook (Revenue, USD Billion; 2017-2027)
Home Care Services
Hospitals
Clinics

Geographic Segment Covered in the Report:

The Video Telemedicine report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)

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Key market aspects are illuminated in the report:

Executive Summary: It covers a summary of the most vital studies, the Global Video Telemedicine market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Video Telemedicine market, the years measured, and the study points.
Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
Manufacture by Region: This Global Video Telemedicine report offers data on imports and exports, sales, production and key companies in all studied regional markets.

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