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Video Telemedicine Market Size, Share, Competitive Landscape, Industry Analysis, Trends, And Forecast To 2032
Video Telemedicine Market Analysis
The Business Research Company's Video Telemedicine Global Market Report 2023 identifies growing prevalence of chronic diseases as the major driver for the video telemedicine market's growth in the forecast period. Chronic diseases are enduring conditions that can typically be managed but not completely cured. Telemedicine emerges as a valuable tool in managing chronic diseases, as it enhances access to care, enables remote monitoring and self-management, improves communication between patients and healthcare providers, and enhances outcomes in disease management.
The global video telemedicine market is expected to grow from $2.12 billion in 2022 to $2.51 billion in 2023 at a compound annual growth rate (CAGR) of 18.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The video telemedicine market is expected to reach $4.77 billion in 2027 at a CAGR of 17.5%.
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Major competitors in the video telemedicine market are Huawei Technologies Co Ltd., Sony Corporation, Cisco Systems Inc., Siemens Healthineers AG, Logitech International S.A., Teladoc Health Inc., Poly Inc.
A key trend in the video telemedicine market includes technological advancement. Major companies operating in the video telemedicine market are focused on launching new technologies to strengthen their position and gain a competitive advantage. For instance, in July 2023, Samaritan Health Services Inc., a US-based innovative and quality healthcare provider, launched the Epic Video Client telemedicine platform. It is uniquely designed to update clinical paperwork, launch video visits securely, and look up patient histories in the Epic electronic health records system. It enables adding family members and linguists to a patient's telemedicine appointment.
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The video telemedicine market is segmented -
1) By Component: Services, Hardware, Software
2) By Application: Neurology And Psychiatry, Cardiology, Orthopedics, Dermatology, Radiology, Gynecology, Oncology, Dentistry, Pathology
3) By End User: Home Care Services, Hospitals, Clinics, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the video telemedicine market.
The Business Research Company's "Global Video Telemedicine Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Video Telemedicine Market Include:
1. Executive Summary
2. Video Telemedicine Market Characteristics
3. Video Telemedicine Market Trends And Strategies
4. Video Telemedicine Market - Macro Economic Scenario
5. Global Video Telemedicine Market Size and Growth
…………
32. Global Video Telemedicine Market Competitive Benchmarking
33. Global Video Telemedicine Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Video Telemedicine Market
35. Video Telemedicine Market Future Outlook and Potential Analysis
36. Appendix
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