Press release
Precision health to take over the Telemedicine market, reaching US$ 387.7 Mn by 2028
The current scenario is such that people and healthcare professionals are increasingly preferring virtual consulting due its low costs and effective treatment. This scenario is, by all means, favoring the Telemedicine market growth.The forecast period (2022-2028) will see North America scale greater heights in the Telemedicine market. This is basically because of the growing burden of chronic diseases and the high adoption of advanced healthcare technologies. Rising demand for mobile technologies increased patient adoption of home care, and a reduction in hospital visits are likely to drive market growth throughout the forecast period.
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The introduction of telemedicine apps that assist people in being engaged in personal health management, particularly during the COVID-19 pandemic, is a good trend in healthcare in the United States. Smartphones and the availability of mobile technology enable the use of clinical and lifestyle applications to assist, educate, and switch to healthy behaviors. Furthermore, government initiatives are also expected to drive the market growth.
Competitive Landscape
The Telemedicine industry is moderately consolidated due to the presence of big companies. The market players are focusing on mergers and strategic alliances as the industry is in the growth phase. Companies are making strategic decisions to launch new platforms to capitalize and grow their market share.
Recent Developments:
In May 2021, MediTelecare introduced "MediTely" in the market. It is a direct-to-consumer mobile health technology that focuses on the elderly population living outside long-term care facilities.
In May 2021, Teladoc Health partnered with Vivo to improve access to quality healthcare in Brazil, specifically through the use of telemedicine.
In March 2021, AMD Global announced its integration with PointClickCare Technologies, the leader in cloud-based software technology for the long-term and post-acute care (LTPAC) market.
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Company Profiles:
Tele-Med International
Babylon
CareClix
Global Telehealth Services
AMD Global Telemedicine
American Well
Doctor on Demand
MD INTERNATIONAL AB
Encounter Telehealth
MDLIVE Inc.
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PMR has presented a comprehensive report based on Telemedicine market as per product type (Cloud Based Delivery, and Premise Based Delivery), distribution channel (Hospitals & Clinics and Homecare Settings) based on seven regions.
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