Telemedicine Market will grow at CAGR of 22.1% to hit $ 118.13 Billion by 2025 - Analysis by Size, Share, Growth Drivers, Top Leaders and Technological Advancement: Adroit Market Research

US telemedicine market size is expected to spur in coming years on account of high acceptance rate within the U.S. population.

Dallas, Texas, May 20, 2019 (GLOBE NEWSWIRE) -- The global telemedicine market is estimated to reach USD 118,130.4 million by 2025. The growth of this market is primarily driven by swift technological and network advancements in the field of wireless telecommunications, remote multi-parameter patient monitoring, and real-time interactive services. Growing healthcare expenditure is also a prime factor contributing to increased adoption of telemedicine solutions. Swift evolution of healthcare industry such as introduction of connectivity enabled healthcare systems and patient monitoring devices is enabling market growth.

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Novel features such as TELE-ICU, virtual calls, emergency contact and consulting, easy second opinions, swift data transfer and growing availability of acute care robots are lading to growing uptake of telemedicine solutions, both by patients and healthcare facilities. Evidence suggest th efficiency of telemedicine in providing quality care, wisely understand consumer demands, provide efficient access to patients in remote locations while managing healthcare costs. Further development of mobile network connectivity, high speed data services and other forms of wireless communication solutions shall enable wider adoption of telemedicine in emerging markets.

The “Global Telemedicine Market Size by End Users (Telehospitals/ Teleclinics and Telehome); by Component (Services, Hardware, Software, Telecom and Networking), by Region (North America, Europe, Asia Pacific, Central and South America and Middle East & Africa) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.

In the coming years, shortage of skilled healthcare personnel is anticipated, with the situation expected to be further aggravated in remotely habited areas. The Association of American Medical Colleges anticipates that by 2025, there shall be a shortage of 130,600 physicians. Deployment of telemedicine in such locations shall enable to overcome this challenge while correspondingly managing the associated healthcare costs. Furthermore, a significantly large pool of physicians have either reached the retirement age or are still working beyond the workable age. However, the number of medicine students is not witnessing a corresponding rise to fill the desired gap. Furthermore, the cost related burden of travel expenses associated with medical travel can also be mitigated with telehealth. In 2013 alone, the Ontario Telemedicine Network reported saving of 237 million kilometers of medical travel.

Based on the geographic demarcation, Europe is the largest regional market for telemedicine. High penetration rates of wireless healthcare solutions, and presence of several notable market players are the key factors instrumental for Europe’s position. U.K., Germany, France, and Spain are some of the most prominent countries in Europe telemedicine market. Favorable government guidelines and regulatory scenario also are supportive of the market growth in Europe. Asia Pacific shall be witnessing rapid market growth during the forecast period. India, China and Japan have a significantly large pool of senescent population currently in home care, and their pool is anticipated to witness further growth. However, lack of expertise and technical skills in the healthcare infrastructure and high deployment costs may hold back the full potential growth of Asia Pacific market, barring the exception of Japan and Australia.

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Some of the major players engaged in the telemedicine market are GE Company, Koninklijke Philips N.V., Cerner Corporation, AMD Global Telemedicine, Honeywell Life Care Solutions, IBM, Medtronic, McKesson Corporation, etc. There are further even more companies operating in smaller pockets of this market, making this industry highly fragmented.

Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Telemedicine Overview, By End-User
Chapter 5. Telemedicine Overview, By Component
Chapter 6. Telemedicine Market Overview, By Region
Chapter 7. Company Profiles
Continued…

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