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Global Telemedicine Market to Grow at a CAGR of 24% During 2021-2026, Aided by the Growing Demand for Virtual Care and Remote Patient Monitoring, Particularly Amidst the COVID-19 Pandemic

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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Global Telemedicine Market: By Type: Telehospitals, Telehomes, mHealth; By Technology: Store and Forward, Real Time; By Services: Tele-Consulting, Tele-Monitoring, Others; By Mode of Delivery; By Application; By End Use; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Telemedicine Market Outlook

The global telemedicine market reached a value of about USD 55 billion in 2020. The market is further expected to grow at a CAGR of 24% in the forecast period of 2021-2026 to reach a value of approximately USD 173 billion by 2026.

 

Increasing Demand for Telemonitoring to Augment the Telemedicine Industry Growth

Based on service, the telemonitoring segment accounted for the largest market share in 2019 and is anticipated to experience a steady growth in the forecast period. The growth of the segment can be attributed to the increasing geriatric population across the globe, which is driving the demand for home assistance for care delivery, and the increasing need for remote patient monitoring services. Meanwhile, the tele-consulting segment is projected to witness a significant growth in the forecast period due to the increasing government initiatives to promote telehealth projects and the rising demand for video conferencing solutions.

 

North America Leads the Global Market for Telemedicine

The global telemedicine industry is dominated by the North America region. The demand is growing in the region due to the availability of advanced healthcare infrastructures, rising healthcare awareness, and increased acceptance of cloud-based technologies. North America is followed by Europe. Meanwhile, the Asia Pacific is expected to witness the fastest growth rate in the forecast period owing to the increasing focus on reducing healthcare expenditures, innovation and development in telecommunication, and the favourable government initiatives. The high demand from emerging countries like India and China owing to the unmet needs of a large patient pool is driving the regional industry growth.

 

Telemedicine: Industry Definition and Segmentation

Telemedicine is the practice of assisting patients when both the healthcare personnel and patient are not physically present with each other. The practice allows doctors to consult patients by using video-conferencing tools or any other device/technology. The adoption of telemedicine facilitates the long-distance patient and clinician contact, care, education, intervention, and monitoring, among others.

Based on type, the market is divided into:

On the basis of technology, the industry can be segmented into:

  • Store and Forward 
  • Real Time 
  • Others 

By service, the industry can be categorised into:

  • Tele-Consulting
  • Tele-Monitoring
  • Tele-Education
  • Others

The market is bifurcated based on mode of delivery into:

  • Cloud Based
  • On-Premises

Based on application, the market is segmented into:

  • Teleradiology
  • Telepsychiatry
  • Telepathology
  • Teledermatology
  • Teleconsultation
  • Others

The major end users of telemedicine include:

  • Providers
  • Payers
  • Patients
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Increasing Inclination of Patients towards Virtual Assistance for Health-Related Solutions and the Rising Focus on Reducing the Healthcare Expenditure to Bolster the Telemedicine Industry Growth

The global market for telemedicine is being driven by the growing inclination of patients towards virtual assistance for health-related issues and the increasing need to cut-down healthcare cost. The advancements in the healthcare industry has significantly contributed to the market expansion. The growing prevalence of chronic and lifestyle-associated diseases and neurology disorders globally are the one of the major demand drivers for telemedicine.

The recent global outbreak of the COVID-19 pandemic is expected to be the major factor contributing to the telemedicine industry growth in the forecast period. The rising number of COVID-19 infections across the globe has propelled the demand for cost-effective and easily accessible healthcare services. The rising demand for video conferencing solutions due to the fear of mobility among the general population and the large-scale adoption of telemedicine among healthcare professionals to effectively communicate with their patients during the pandemic are expected to be a major industry trend.

 

Key Industry Players in the Global Telemedicine Market

The report gives a detailed analysis of the following key players in the global telemedicine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Koninklijke Philips N.V.
  • Aerotel Medical Systems Ltd
  • Allscripts Healthcare, LLC
  • AMD Global Telemedicine
  • InTouch Technologies Inc.
  • MDLIVE Inc.
  • Medtronic plc
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Telemedicine Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Telemedicine Historical Market (2016-2020) 
    8.3    Global Telemedicine Market Forecast (2021-2026)
    8.4    Global Telemedicine Market by Type
        8.4.1    Telehospitals
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Telehomes
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    mHealth
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
    8.5    Global Telemedicine Market by Technology
        8.5.1    Store and Forward
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Real Time
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Others
    8.6    Global Telemedicine Market by Services
        8.6.1    Tele-Consulting
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Tele-Monitoring
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Tele-Education
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Others
    8.7    Global Telemedicine Market by Mode of Delivery
        8.7.1    Cloud Based
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    On-Premises
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
    8.8    Global Telemedicine Market by Application
        8.8.1    Teleradiology
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Telepsychiatry
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
        8.8.3    Telepathology
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2016-2020)
            8.8.3.3    Forecast Trend (2021-2026)
        8.8.4    Teledermatology
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2016-2020)
            8.8.4.3    Forecast Trend (2021-2026)
        8.8.5    Teleconsultation
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2016-2020)
            8.8.5.3    Forecast Trend (2021-2026)
        8.8.6    Others
    8.9    Global Telemedicine Market by End Use
        8.9.1    Providers
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2016-2020)
            8.9.1.3    Forecast Trend (2021-2026)
        8.9.2    Payers
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2016-2020)
            8.9.2.3    Forecast Trend (2021-2026)
        8.9.3    Patients
            8.9.3.1    Market Share
            8.9.3.2    Historical Trend (2016-2020)
            8.9.3.3    Forecast Trend (2021-2026)
        8.9.4    Others
    8.10    Global Telemedicine Market by Region
        8.10.1    Market Share
            8.10.1.1    North America
            8.10.1.2    Europe
            8.10.1.3    Asia Pacific
            8.10.1.4    Latin America
            8.10.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape
    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Koninklijke Philips N.V.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Aerotel Medical Systems Ltd
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Allscripts Healthcare, LLC
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    AMD Global Telemedicine
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    InTouch Technologies Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    MDLIVE Inc.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Medtronic plc
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
        12.2.8    Others
13    Industry Events and Developments


List of Figures and Tables

1.    Global Telemedicine Market: Key Industry Highlights, 2016 and 2026
2.    Global Telemedicine Historical Market: Breakup by Type (USD Billion), 2016-2020
3.    Global Telemedicine Market Forecast: Breakup by Type (USD Billion), 2021-2026
4.    Global Telemedicine Historical Market: Breakup by Technology (USD Billion), 2016-2020
5.    Global Telemedicine Market Forecast: Breakup by Technology (USD Billion), 2021-2026
6.    Global Telemedicine Historical Market: Breakup by Services (USD Billion), 2016-2020
7.    Global Telemedicine Market Forecast: Breakup by Services (USD Billion), 2021-2026
8.    Global Telemedicine Historical Market: Breakup by Mode of Delivery (USD Billion), 2016-2020
9.    Global Telemedicine Market Forecast: Breakup by Mode of Delivery (USD Billion), 2021-2026
10.    Global Telemedicine Historical Market: Breakup by Application (USD Billion), 2016-2020
11.    Global Telemedicine Market Forecast: Breakup by Application (USD Billion), 2021-2026
12.    Global Telemedicine Historical Market: Breakup by End Use (USD Billion), 2016-2020
13.    Global Telemedicine Market Forecast: Breakup by End Use (USD Billion), 2021-2026
14.    Global Telemedicine Historical Market: Breakup by Region (USD Billion), 2016-2020
15.    Global Telemedicine Market Forecast: Breakup by Region (USD Billion), 2021-2026
16.    North America Telemedicine Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    North America Telemedicine Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Europe Telemedicine Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Europe Telemedicine Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Asia Pacific Telemedicine Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Asia Pacific Telemedicine Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Latin America Telemedicine Historical Market: Breakup by Country (USD Billion), 2016-2020
23.    Latin America Telemedicine Market Forecast: Breakup by Country (USD Billion), 2021-2026
24.    Middle East and Africa Telemedicine Historical Market: Breakup by Country (USD Billion), 2016-2020
25.    Middle East and Africa Telemedicine Market Forecast: Breakup by Country (USD Billion), 2021-2026
26.    Global Telemedicine Market Structure

Key Questions Answered in the Report

What was the global telemedicine market size in 2020?

In 2020, the global telemedicine market attained a value of nearly USD 55 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 24% between 2021 and 2026.

What is the forecast outlook of the market for 2021-2026?

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 173 billion by 2026.

What are the major industry drivers?

The major drivers of the industry, such as the growing demand for cost-effective and user-friendly healthcare services, growing prevalence of various lifestyle related disorders, increasing geriatric population, favourable government initiatives, and growing technological advancements are expected to aid the market growth.

What are the key industry trends of the global telemedicine market?

The key market trends guiding the growth of the industry include the rising demand for video conferencing tools and the increasing adoption of telemedicine among healthcare professionals due to the recent COVID-19 outbreak.

What are the major regional markets of telemedicine, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.

What are the leading types of telemedicine in the market?

The leading types of telemedicine in the market are telehospitals, telehomes, and mhealth.

What are the significant technologies of telemedicine in the industry?

The significant technologies of telemedicine in the industry are store and forward and real time, among others.

What are the major service segments in the market?

The major service segments in the market are tele-consulting, tele-monitoring, and tele-education, among others.

What are the leading modes of delivery in the industry?

The leading modes of delivery in the industry are cloud based and on-premises.

What are the significant application segments in the market?

The significant application segments in the market are teleradiology, telepsychiatry, telepathology, teledermatology, and teleconsultation, among others.

What are the major end use sectors in the industry?

The major end use sectors in the industry are providers, payers, and patients, among others.

Who are the key industry players, according to the report?

The major players in the industry are Koninklijke Philips N.V., Aerotel Medical Systems Ltd, Allscripts Healthcare, LLC, AMD Global Telemedicine, InTouch Technologies Inc., MDLIVE Inc., and Medtronic plc, among others.

Analyst Review

The global telemedicine market attained a value of USD 55 billion in 2020, driven by the rising demand for cost-effective and user-friendly healthcare services. Aided by the increasing technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 24%. The market is projected to reach USD 173 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market is segmented into telehospitals, telehomes, and mhealth. Based on technology, the industry is divided into store and forward and real time, among others. By service, the market is segmented into tele-consulting, tele-monitoring, and tele-education, among others. On the basis of mode of delivery, the industry is divided into cloud based and on-premises. By application, the market is categorised into teleradiology, telepsychiatry, telepathology, teledermatology, and teleconsultation, among others. Based on end use, the industry is divided into providers, payers, and patients, among others. The major regional markets for telemedicine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Koninklijke Philips N.V., Aerotel Medical Systems Ltd, Allscripts Healthcare, LLC, AMD Global Telemedicine, InTouch Technologies Inc., MDLIVE Inc., and Medtronic plc, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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Global Prothrombin Complex Concentrate (PCC) Market Report and Forecast 2021-2026

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Prothrombin Complex Concentrate (PCC) Market Size, Share, Report 2021-2026
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