Latin America Telemedicine Market is at the cusp of crossing $2.50 billion in 2021

The Latin America telemedicine market is estimated to grow from $1.13 billion in 2015 to $2.50 billion in 2020, with a compound annual growth rate (CAGR) of 17.23% over the next five years. Though it is a small sector in the healthcare market presently, it is one of the fastest growing sectors in the overall healthcare market. The recent healthcare reforms have transformed the telemedicine market and have been influential in expanding the reach of such applications.

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The overall healthcare cost is rising due to the increase in the number of elderly patients who need maximum healthcare; Telemedicine helps in improving individual health with the assistance of electronic media. With healthcare experts spread across the world, the teleconsultation–referrals–second opinion chain has increased significantly to various parts of the globe. Obstacles such as distance barriers and a shortage of healthcare professionals especially in this part of the world can be bypassed with the use of tele medicine.

Increasing population, growing number of chronic diseases, lack of strict guidelines for the practice and improving access to healthcare services are the primary drivers for the telemedicine market in Latin America. Shortage of doctors especially in this part of the world also serves as an opportunity for the growth of the telemedicine market. non-existent reimbursement facilities and a lack of consumer awareness hinder the growth of the telemedicine market in this region.

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The Latin America market for telemedicine is segmented on the basis of Technology (Hardware, Software, Telecommunications), Service (Remote Patient Monitoring, Store-and-Forward, Real-Time Interactive), Applications (Tele-Cardiology, Tele-Pathology, Tele-Radiology, Tele-Dermatology, Tele-Neurology, Emergency Care, Home Health), Delivery mode (Web-based, Cloud-based) and End User (Tele Hospitals, Tele Homes).

Latin America Telemedicine Market Geographical Analysis
• Brazil
• Mexico
• Rest of Latin America

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Latin America Telemedicine Market Leaders' Analysis
• GE Healthcare
• AMD Telemedicine
• CISCO Systems, Inc.
• Medtronic, Inc.
• Honeywell Lifesciences
• Aerotel Medical Systems
• Philips healthcare
• McKesson Corp
• Cerner Corporation
• CardioComm

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