Global Telemedicine Market: Analysis By Specialties (Teledermatology, Teleradiology, Telepsychiatry, Others), By Component, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)

NEW YORK, July 1, 2020 /PRNewswire/ --

Executive Summary
The Global Telemedicine Market was valued at USD 30.7 billion in the year 2019. With the increasing aging population and prevalence of chronic diseases, there is an increasing need for finding new ways to improve patient outcomes, which increase access to care and reduce the cost of medical care as well. Moreover, the growing awareness and acceptance of remote monitoring solutions and increasing technological advancement in telecommunication is the key factor responsible for the burgeoning demand for telemedicine services globally. The Coivd-19 pandemic has rapidly accelerated the telemedicine market with telehealth replacing healthcare visit.

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Telemedicine is rapidly transforming the healthcare industry, and in the next few years, it is expected to become the most accepted and used method of diagnosis and prescription. The growth of the market is likely to be driven by increasing adoption of telemedicine, rising incidences of chronic diseases, growing geriatric population, government initiatives, and shortage of physicians amongst others.

Advancements in medical digital technology, rapid interpretation of images in an emergency situation remotely, and rise in the number of chronic diseases such as congestive heart failure, orthopedic injuries, and others are some of the key trends driving the market growth. Additionally, upgraded IT infrastructure and increase in healthcare expenditure also expected to augment the market growth. The advent of low power consuming, wireless, and portable x-ray technologies are expected to provide numerous opportunities for market growth during the forecast period.

North America is the leading region in global telemedicine market, which holds a major market share in the year 2019. Due to the increasing use of the internet, North America accounts for a significant share over the forecast period, and the adoption of smart devices is the major factor that helps the telemedicine market to grow.

Scope of the Report

• The report analyses the Telemedicine Market by Component (Hardware, Software, Services)
• The report assesses the Telemedicine market by Specialties (Teledermatology, Teleradiology, Telepsychiatry, Others)
• The Global Telemedicine Market has been analysed By Region (North America, Europe, Asia Pacific, LAMEA) and By Country (United States, Canada, Germany, U.K, China, Japan).
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, component, and specialties. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Teladoc Health, Inc., Doctor on Demand, AMD Global Telemedicine, Inc., MDLIVE, Amwell, Cloud MD.
• The report presents the analysis of Telemedicine market for the historical period of 2015-2019 and the forecast period of 2020-2025.

Key Target Audience

• Telemedicine Vendors/service providers
• Consulting and Advisory Firms
• Government and Policy Makers
• Investment Banks and Equity Firms
• Regulatory Authorities

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