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Global Telemedicine Market 2023: Demand for advanced healthcare technologies to drive market expansion | PMR
Telemedicine Market witnessed a CAGR of 15.1% between 2013 and 2021. The global Telemedicine Market is expected to have a staggering 17.2% CAGR between 2022 and 2028. In 2022, the global Telemedicine Market size was US$ 12,893.8 million, which is projected to reach US$ 33,373.8 million by the year 2028.
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One of the main drivers of the telemedicine market is the need for more accessible and convenient healthcare services. Many patients face barriers to accessing healthcare, such as long wait times, limited access to specialists, and travel constraints. Telemedicine offers a way to overcome these barriers, by providing remote consultations and care that can be accessed from the comfort of the patient's own home.
Companies
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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Another factor driving the growth of the telemedicine market is advances in technology. With the increasing use of smartphones, tablets, and other mobile devices, telemedicine has become more accessible and convenient than ever before. Healthcare providers are now able to use telemedicine to connect with patients in real-time, providing diagnosis, treatment, and ongoing care from anywhere in the world.
The telemedicine market is also benefiting from the increasing adoption of digital health solutions. With the rise of electronic health records, health apps, and other digital tools, patients and healthcare providers are now able to access and share health information more easily than ever before. This has helped to increase the use of telemedicine, by making it easier for healthcare providers to access and share patient information remotely.
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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Telemedicine Market Categorization
Telemedicine Market by Mode of Delivery
Cloud based delivery
Premise based delivery
Telemedicine Market by End User
Hospitals & Clinics
Homecare Settings
Telemedicine Market by Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa (MEA)
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