Telehealth/Telemedicine Market (Global and Regional) shows Unbelievable Growth | Medtronic, GE Healthcare, Siemens Healthineers, Cisco Systems

The Telehealth Telemedicine Market

The Telehealth Telemedicine Market is growing at a significant pace, owing to the increasing demand for remote patient care. Online video consultations are more convenient and affordable than traditional in-person appointments, and also help reduce waiting times at outpatient departments. The market is attracting many start-up companies, as well as significant investments from equity firms. Israeli-based company Tyto Care, for instance, recently raised USD 50 million from Insights Partners to expand its remote clinical examination capabilities.

The Key players operating in the Telehealth/Telemedicine Market market are: Koninklijke Philips N.V., Medtronic, GE Healthcare, Siemens Healthineers, Cisco Systems, Inc., Teladoc Health Inc., American Well, AMC Health, MDLive, Doctor on Demand among others.

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North America

The North America telehealth telemedicine market has numerous factors that impact its growth. These factors include major drivers and restraints, potential business opportunities and challenges. These factors help companies make informed business decisions. The research also covers the various market segments and provides revenue forecasts. The North America telehealth telemedicine market is comprised of several major players including AMD Global Telemedicine, Care Innovations, LLC, Cisco Systems, Inc., Doctor On Demand, MDLIVE Inc., Honeywell Life Care Solutions, Philips Healthcare, Teladoc, Inc.

Recent developments in health care policy are also driving the growth of telemedicine in North America. Increasing concerns about the COVID-19 pandemic and payment rules for remote care have spurred many health insurers to step up their efforts to boost the market. For example, Aetna has waived the patient co-payment for telemedicine, while Medicare has made telemedicine services available to all enrolled customers. Further, healthcare providers are relying on telemedicine to reduce staff exposure in hospitals.

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Rest of the world

The rest of the world telehealth telemedicine industry is expected to experience moderate growth in the coming years, owing to the growing demand for healthcare assistance. Several emerging economies are anticipated to see rapid growth during the forecasted period, owing to favourable market conditions. This region is also expected to experience rapid innovation and development in the field of telemedicine. However, the development of this industry is expected to be hampered by technological issues and costs of equipment.

The North American telehealth telemedicine market held the largest market share in 2016 and is expected to maintain its dominance during the forecast period. This is largely attributed to the booming healthcare awareness among consumers and the presence of several major players in the region. However, the Asia-Pacific region is expected to register the fastest CAGR (compound annual growth rate) during the forecast period. Growth in this region will be driven by the growing demand for healthcare and rising investments in IT and healthcare infrastructure.

Applications

Telemedicine is an increasingly popular method of delivering health care to people. It is a cost-effective, efficient way to deliver routine care without requiring patients to travel to the local hospital. With widespread wireless internet access and rapid advancements in ICT, telemedicine is gaining momentum. Telemedicine applications include routine outpatient follow-up care, asynchronous consultation, and remote monitoring of patients.

Smartphones and other connected devices have made the process possible. These devices are now capable of remote consultations with physicians, saving health care organizations hundreds of dollars and unnecessary strain on health care staff. Currently, smartphone-based telemedicine services are being used in various fields, including cardiology, geriatrics, and neurology.

Size

Telehealth technology has become a popular way to provide health care to patients. The technology has gotten better and is now more affordable than ever. Several companies have made it possible for patients to communicate with their doctors, who can then assess their condition remotely. Several of these companies have also partnered with other companies to provide care to patients.

The telehealth market is segmented by component, geography, type, and mode of delivery.

The Telehealth/Telemedicine Market report also imparts figures appertaining to CAGRs from a historical and forecast point of view. The Telehealth/Telemedicine Market report offers an executive summary of the market and issues a clear picture of the scope of the market to the report readers analyzes the global and key region's market potential and advantage, opportunity, and challenge, restraints, and risks. It strategically analyzes each submarket with respect to individual growth trend and their contribution to the global Telehealth/Telemedicine market.

Key Questions Answered In Telehealth/Telemedicine Market Research Report:
1. Which grooming regions will continue to remain the most profitable regional markets for market players?
2. Which circumstance will lead to a change in the demand for Telehealth/Telemedicine during the assessment period?
3. How can market players capture the low-hanging opportunities in the market in developed regions?
4. What are the projections anticipated for the market in terms of capacity, production, and production value?
5. What is market chain analysis by upstream raw materials and downstream industry?

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