Press release
Telemedicine Market is expected to have a staggering 17.2% CAGR and Projected to reach US$ 33.37 Bn by the year 2028
The telemedicine market refers to the use of telecommunication and information technologies to provide remote healthcare services, including diagnosis, treatment, and monitoring. Telemedicine offers a convenient and cost-effective alternative to traditional in-person healthcare services, especially in remote or underserved areas.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 key drivers of the telemedicine market is the increasing demand for remote healthcare services. Telemedicine offers a range of benefits, including improved access to healthcare, cost savings, and reduced travel time for patients. The COVID-19 pandemic has also accelerated the adoption of telemedicine, as patients and healthcare providers seek to minimize exposure to the virus.
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 telemedicine market is the increasing prevalence of chronic diseases. Chronic diseases such as diabetes, cardiovascular disease, and respiratory disease require ongoing monitoring and management, which can be time-consuming and costly for patients. Telemedicine offers an opportunity to improve the management of these diseases, which is driving their adoption.
However, there are also some challenges facing the telemedicine market. One of the main challenges is the lack of standardized regulations and guidelines for telemedicine services. The lack of clear regulations can create uncertainty among patients and healthcare providers and may limit the adoption of telemedicine services.
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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