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“The Global Telemedicine Market Was Valued at USD 58.45 Million in 2020 and is Anticipated to Grow Further at a CAGR Value of 18.83% in the Forecast Period to Reach USD 177.99 by 2026F.
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FEATURED COMPANIES
- Cardiocom, LLC
- Doctor on Demand, Inc.
- Honeywell HomMed
- Koninklijke Philips N.V.
- McKesson Corporation
- Medtronic Plc
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The Global Telemedicine Market was valued at USD58.45 million in 2020 and is anticipated to grow further at a CAGR value of 18.83% in the forecast period to reach USD177.99 by 2026F. The future market growth can be attributed to increasing expenses of healthcare in the countries. Also, increasing technological advancements in the healthcare industry are further driving the growth of the Global Telemedicine Market in the upcoming five years. The increasing popularity of medical devices like oximeters, monitoring devices, and various pharmaceutical products and their sale through teleportals is also supporting the growth of the Global Telemedicine Market in the next five years. Rapidly increasing chronic diseases and demand to obtain the monitoring equipment to follow the conditions pre- and post-operation of the organs is also substantiating the growth of the Global Telemedicine Market in the future five years. Diseases like cancer, diabetes, renal failures, cardiovascular diseases are also supporting the Global Telemedicine Market growth in the future. The COVID-19 pandemic has further aided the growth of the Global Telemedicine Market until 2026. The demand for pharmaceuticals, therapeutic devices and other healthcare products has increased due to the severity of the pandemic and its viral infection, thereby substantiating the growth of the Global Telemedicine Market in the forecast period.
The Global Telemedicine Market is segmented by component, deployment mode, type, technology, delivery mode, application, end-user, company, and region. Based on component, the market is further bifurcated into software & services and hardware. The software & services sub-segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of surging demand for advanced healthcare services. Integration of the healthcare devices with the internet-based value-added services is expected to further support the growth of the sub-segment along with the growth of the Global Telemedicine Market in the next five years. Hardware sub-segment is also anticipated to register significant growth in the future five years on account of the increasing demand for healthcare medical devices through tele-distribution channels. Also, the surge in demand for monitoring devices to keep a check on the health conditions, specifically where the patient is suffering from severe chronic diseases like cardiovascular diseases, cancer, diabetes, etc., is expected to further support the growth of the Global Telemedicine Market in the forecast years.
Major players operating in the Global Telemedicine Market include Allscripts Healthcare Solutions, Inc, Cardiocom, LLC, LifeWatch AG, InTouch Technologies, Inc, Honeywell HomMed, F. Hoffmann-La Roche Ltd, CISCO Systems Inc., McKesson Corporation, Telemedicine, Inc., AMD Global Telemedicine, Inc., Teladoc Health, Inc., MDLIVE, Inc., Doctor on Demand, Inc., SnapMD, Inc., Medtronic Plc, Koninklijke Philips N.V., and others. The companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new service developments.
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of service providers across the globe. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the service providers which could not be identified due to the limitations of secondary research. The publisher analyzed the service providers, distribution channels and presence of all major players across the globe.
The publisher calculated the market size of the Global Telemedicine Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
In this report, the Global Telemedicine Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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The Global Telemedicine Market is segmented by component, deployment mode, type, technology, delivery mode, application, end-user, company, and region. Based on component, the market is further bifurcated into software & services and hardware. The software & services sub-segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of surging demand for advanced healthcare services. Integration of the healthcare devices with the internet-based value-added services is expected to further support the growth of the sub-segment along with the growth of the Global Telemedicine Market in the next five years. Hardware sub-segment is also anticipated to register significant growth in the future five years on account of the increasing demand for healthcare medical devices through tele-distribution channels. Also, the surge in demand for monitoring devices to keep a check on the health conditions, specifically where the patient is suffering from severe chronic diseases like cardiovascular diseases, cancer, diabetes, etc., is expected to further support the growth of the Global Telemedicine Market in the forecast years.
Major players operating in the Global Telemedicine Market include Allscripts Healthcare Solutions, Inc, Cardiocom, LLC, LifeWatch AG, InTouch Technologies, Inc, Honeywell HomMed, F. Hoffmann-La Roche Ltd, CISCO Systems Inc., McKesson Corporation, Telemedicine, Inc., AMD Global Telemedicine, Inc., Teladoc Health, Inc., MDLIVE, Inc., Doctor on Demand, Inc., SnapMD, Inc., Medtronic Plc, Koninklijke Philips N.V., and others. The companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new service developments.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth in the market size of the Global Telemedicine Market from 2016 to 2020.
- To estimate and forecast the market size of the Global Telemedicine Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the Global Telemedicine Market based upon component, deployment mode, type, technology, delivery mode, application, end-user, company, and region distribution.
- To identify dominant region or segment in the Global Telemedicine Market.
- To identify drivers and challenges for the Global Telemedicine Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Telemedicine Market.
- To identify and analyze the profile of leading players operating in the Global Telemedicine Market.
- To identify key sustainable strategies adopted by the market players in the Global Telemedicine Market.
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of service providers across the globe. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the service providers which could not be identified due to the limitations of secondary research. The publisher analyzed the service providers, distribution channels and presence of all major players across the globe.
The publisher calculated the market size of the Global Telemedicine Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Telemedicine service providers, vendors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to telemedicine
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
Report Scope:
In this report, the Global Telemedicine Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Telemedicine Market, By Component:
- Software & Services
- Hardware
Telemedicine Market, By Deployment Mode:
- Cloud
- On- Premise
Telemedicine Market, By Type:
- Tele-Hospitals
- mHealth
- Tele-Homes
Telemedicine Market, By Technology:
- Store & Forward
- Real Time
- Others
Telemedicine Market, By Delivery Mode:
- Audio-Visual
- Only Audio
- Written
Telemedicine Market, By Application:
- Telepsychiatry
- General Consultations
- Teleradiology
- Telepathology
- Others
Telemedicine Market, By End-User:
- Patients
- Providers
- Payers
Telemedicine Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Sweden
- United Kingdom
- France
- Portugal
- Germany
- Spain
- Poland
- Belgium
- Asia-Pacific
- China
- Singapore
- Australia
- Japan
- India
- Indonesia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Telemedicine Market.Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.This product will be delivered within 1 business day.
Frequently Asked Questions about the Global Telemedicine Market
What is the estimated value of the Global Telemedicine Market?
What is the growth rate of the Global Telemedicine Market?
What is the forecasted size of the Global Telemedicine Market?
Who are the key companies in the Global Telemedicine Market?
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Cardiocom, LLC
- Doctor on Demand, Inc.
- Honeywell HomMed
- Koninklijke Philips N.V.
- McKesson Corporation
- Medtronic Plc
1. Product Overview2. Research Methodology3. Impact of COVID-19 on Global Telemedicine Market4. Executive Summary13. Market Trends & Developments15. Strategic Recommendations16. About the Publisher & Disclaimer
5. Voice of Customer
6. Global Telemedicine Market Outlook
7. North America Telemedicine Market Outlook
8. Europe Telemedicine Market Outlook
9. Asia- Pacific Telemedicine Market Outlook
10. South America Telemedicine Market Outlook
11. Middle East and Africa Telemedicine Market Outlook
12. Market Dynamics
14. Competitive Landscape
List of Figures
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- Allscripts Healthcare Solutions, Inc
- Cardiocom, LLC
- LifeWatch AG
- InTouch Technologies, Inc
- Honeywell HomMed
- F. Hoffmann-La Roche AG
- CISCO Systems Inc.
- McKesson Corporation
- AMD Global Telemedicine, Inc.
- Teladoc Health, Inc.
- MDLIVE, Inc.
- Doctor on Demand, Inc.
- SnapMD, Inc.
- Medtronic Plc
- Koninklijke Philips N.V.
Note: Product cover images may vary from those shown