Global Telemedicine Market Analysis, Size,Growth and Forecasts (2016–2021)

According to the report "Telemedicine Market", published by Market Data Forecast, the global market is projected to reach USD 57.92 Billion by 2021, at a CAGR of 17.85% from 2016 to 2021.

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Though it represents a small share in the healthcare market currently, it is one of the fastest budding sectors in the overall healthcare market. Although telemedicine programs have been in vogue for nearly half a century, the recent healthcare reforms have been instrumental in promoting the increased usage of such applications.

The increase in average age has resulted in elderly patients who need maximum healthcare; this is increasing the overall healthcare cost globally. Patients today are more aware and demand better healthcare services. The total number of healthcare professionals is not enough to meet needs of the increasing number of patients. With healthcare specialists spread across the globe, the teleconsultation–referrals–second opinion chain has expanded globally. Use of telemedicine helps in improving individual health with the assistance of electronic media. It also increases accessibility by tumbling the distance barriers between medical service providers and patients.

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Healthcare is a sector with enormous innovations and developments combining with the technology. Increasing global population, rising disposable incomes, growing number of chronic diseases and rising cost of healthcare services are the key drivers for the growth of the global telemedicine market. In addition, increased use of technology in healthcare conveyance and lack of Healthcare professionals in rural areas are factors that offer promising prospects for growth of the telemedicine market.

Product Segmentation:

1) Based on Technology:
• Hardware
• Software
• Telecommunications

2) Based on Service:

• Remote Patient Monitoring
• Store-and-Forward
• Real-Time Interactive

3) Based on Applications:

• Tele-Cardiology
• Tele-Pathology
• Tele-Radiology
• Tele-Dermatology
• Tele-Neurology
• Emergency Care
• Home Health

4) Based on Delivery mode:
• Web-Based
• Cloud-Based

5) Based on End User:
• Tele Hospitals
• Tele Homes

6) Geographical Segmentation:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The major companies operating in the global telemedicine market are AMD Global Telemedicine, GE Healthcare (U.K.), CISCO Systems, Inc., Medtronic, Inc., Honeywell Lifesciences, Aerotel Medical Systems, Philips healthcare, McKesson Corp, Cerner Corporation, CardioComm.

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This release was published on openPR.