Press release
Telemedicine Equipment Market Growth, Size, Forecast, Top Companies Profiles, Market Research Report
The Global Telemedicine Equipment Market size was valued at USD 3,471 Million in 2021 and is expected to reach USD 14,220 Million by 2030 at a CAGR of 17.2% during the forecast period 2022 to 2030.Over the years, the healthcare sector has had to quickly adapt to social distancing measures aimed at helping to flatten the curve of COVID-19 infectious diseases. At the height of the pandemic, clinics, hospitals, and doctors turned to telemedicine services to maintain that level of care while restricting coronavirus spread. However, emerging strategies for making use of new technology have emerged, and these will continue to shape the future of telemedicine equipment.
Nowadays, Telemedicine services have been shown to improve long-term clinical services and improved patient safety. It also provides a new and improved method of storing health data and interacting with professionals, increasing patient convenience and reducing the number of potential trips required by both health professionals and patients. Furthermore, Web-based disease control programs, such as telemedical devices, encourage patients to take greater responsibility for their own protection, assist healthcare professionals in treating patients earlier, support local and less expensive facilities, extend scarce medical resources, improve client access to healthcare, and improve the accuracy and precision of patients' medical records.
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Telemedicine equipment needs to connect for the convenience, low cost, and preparedness of health-related communication and information by using the Internet and related technology. Telemedicine began with mobile phone consultations and has evolved with technological advancement to include interaction and communication software that can provide health care system services and information to clients in a variety of locations. This tool's applications include internet resources and methods to ensure standard patient healthcare, critical pathways and patient outcomes, computer-assisted remedy, effective drug statistics and electronic prescription filling, and effective research data availability.
Global Telemedicine Equipment Market Growth Aspects
The rising prevalence of chronic diseases such as orthopedic injuries, congestive heart failure, and others, as well as rising demand for radioactivity services, are driving the growth of the telemedicine equipment market. Moreover, significant government expenditure on the healthcare information sector, as well as the intense emphasis of key players on promoting innovation in digital management and therapy, drives the market growth. Furthermore, ongoing medical diagnostic innovation breakthroughs are expected to boost the market for the growth of the telemedicine equipment market over the forecast years.
Besides that, the emergence of better opportunities in advanced countries would provide great opportunities for the telemedicine equipment market to grow in the forecast years. Technological advancements in healthcare, as well as clinicians' and patients' growing preference for virtual consultations, will drive the development of the telemedicine equipment market and provide significant growth opportunities throughout the forecast period.
Improvements in real-time monitoring and household telemedicine will be critical in increasing telemedicine implementation among the general population. Additionally, advancements in telehealth software and improved healthcare facilities are anticipated to drive the growth in the telemedicine equipment market over the forecast period. Additionally, continued to improve telemedicine equipment performance will boost market demand. However, the telemedicine equipment market's expansion is hampered by a lack of telemedicine understanding and appreciation among healthcare practitioners and service providers. Furthermore, due to a limited reimbursement policy, telemedicine equipment is unappealing to providers.
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Telemedicine Equipment Market Segmentation
The global telemedicine equipment market has been segmented by Acumen Research and Consulting based on product, and end-use. Based on the product, the market is divided into telemedicine cart, telemedicine kiosk, telemedicine kit, and peripherals. Based on the end-use, the market is categorized into hospitals, clinics, home care settings, specialty centers, and others.
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Telemedicine Equipment Market Players
Some key players covered global in the telemedicine equipment industry are AMD Global Telemedicine, Iris Telehealth, CardioNet, Parsys, Resideo Technologies Inc., AFC Industries, InTouch Technologies Inc., Allscripts Healthcare Solutions Inc, Cura Carts and Ergotron, IBM Corporation, American Well, and Koninklijke Philips N.V.
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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
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