Reports & Insights newly published a report titled "Telemedicine Market: Opportunity Analysis and Future Assessment 2022-2030" that accentuates the information related to market including commercial potential, future opportunities and challenges, current trends in an absolute meticulous and thorough manner. The base year considered for the study is 2021, and the market size is projected from 2022-2030. Furthermore, the report also includes the data associated with the market size, segmentation, textual & graphical assessment of the global market growth trends over the forecast period of 2022 to 2030.
The global telemedicine market is estimated to reach at a value of US$ 57.0 Bn by the end of 2020 and expected to reach at a value of US$ 316.5 Bn by 2028 with a significant CAGR of 24.1%
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Telemedicine Introduction
There are numerous developed and developing countries across the world who are still deprived of the cost-effective, high-quality, and accessible healthcare services. Fortunately, information and communication technologies (ICTs), in the present-day world, comprises great potential to acknowledge some of the major challenges witnessed by both emerging and established nations in providing appropriate healthcare services.
Basically, telemedicine is the delivery of healthcare services and the sharing of healthcare information across distances for diagnosis, treatment and prevention of disease and injuries, research and evaluation, and for the invariable education of healthcare providers.
Telemedicine should not be misunderstood with a new technology or a novel branch of medicine, as it is just the way medical practitioners adopted ICTs to overcome geographical barriers as well as elevate access to healthcare services. Telemedicine is most useful for underserved or rural regions, groups and communities across the world which majorly suffer from shortage of access
For any minor health issues, how do we try to get relief? We could only think of visiting a local doctor or a medical store to diagnose the illness. We do not say that it's a wrong practice, but in this era of widespread technology wouldn't it be easy and convenient to get health related information right at our fingertips? The creation of modern digital health is great, but having devices and technologies that can also talk to each other is even greater.
The Global Telemedicine Market is accounted for $21.56 billion in 2017 and is expected to reach $93.45 billion by 2026 growing at a CAGR of 17.7% during the forecast period. Some of the key factors influencing the market growth include rising prevalence of chronic diseases, favorable government initiatives, telecommunication growth in BRIC countries and growing medicare reimbursement for telehealth services. However, privacy & security concerns and high infrastructure cost are hampering the market. In addition, growing acceptance of 4G and 5G spectrum provides huge opportunities for the players in the market.
Polaris Market Research recently updated its existing market research study on the The report "U.S. Telemedicine Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software & Services), By Application (Teleradiology, Telepsychiatry, Telestroke, Tele-ICU, Teledermatology, Teleconsultation); Mode of Delivery (Mobile Health Apps, Virtual, Telehealth Portals & kiosks), By End User (Providers, Payers, Patients); Segments & Forecast, 2020 - 2027" the report covers an exhaustive list of market tables and figures, thus providing in-depth analytical data for segments across different regions.