Global telemedicine market is projected to witness a CAGR of 14.58% during the forecast period to grow from US$13.329 billion in 2018 to US$30.163 billion in 2024. Telemedicine market has been witnessing high growth due to increasing government expenditure in healthcare, favorable industry regulations, focus on privacy and the new trend of personal healthcare. Telemedicine is a small segment of e-health and has been witnessing high growth over the past few years. The increasing prevalence of chronic diseases, rising number of people connected to the internet, and aging population across different geographies are some of the other factors contributing to e-health and in turn, boosting the demand for telemedicine solutions. Though the demand for these solutions remains high, lack of skilled personnel, the absence of proper telecom infrastructure in some major economies, high operating costs among others are some challenges in the higher implementation of these solutions.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the product specifications and a brief technological aspect of telemedicine. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, telemedicine market has been segmented on the basis of service type and usage. Under major service type; tele-education, telecare, telesurgery, teletraining, and teleconsultation have been covered, while usage this market has been segmented into Teledermatology, Teleneurology, Telecardiology, Teleorthopedics and Teleradiology among others.
Important regions for vendors in terms of market size are covered through detailed geographical segmentation. Geographical regions covered as a part of this section are Americas (North and South America), Europe Middle East and Africa and Asia Pacific.
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry participants which have been profiled as part of this section are IBM, GE, Siemens, Honeywell, McKesson and Cerner along with several other players.