Telemedicine Technologies and Services Market Size, Share and Global Trend By Type (Tele-care, Tele-diagnostics, Tele-monitoring), By Modality (In-campus, Cloud-Based), By Application (Emergency Services, Dermatology, Neurology, Cardiology, Gynaecology), By End-User (Hospitals, Clinics, Diagnostic Centers, Ambulatory Surgery Centers) and Geography Forecast till 2022-2029

In January 2019, American Well, one of the potential player in telemedicine services market launched a new acute care telemedicine module in the existing telemedicine product. The newly launched technology is highly compatible with Cisco’s network infrastructure.

Evolution of technology has led to offer promising healthcare solutions with the help of clever algorithms and advancements in networking technology. Telemedicine technologies are extensively utilized for communication between healthcare specialists and patients who are in remote regions or geographically away from the healthcare facility.

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Additionally, telemedicine technologies offer a pragmatic platform to systematically gather the patient data along with comprehensive diagnostic solutions and consultations. As telemedicine technologies are serving superior connectivity between distant geographical locations, many healthcare institutions started utilization of the technology with the fullest potential. For instance, in 2017, Beacon Health Systems, one of the prominent player in healthcare, launched a system-wide telemedicine program for better communication and governance within its different branches.

The global telemedicine technologies and services market growth is projected to be driven by rapidly increasing patient pool due to the growing prevalence of chronic disorders followed by increasing healthcare infrastructure.

Combined with this, climbing rate of technological advancements, a gradual shift of preference for data-driven decisions, accuracy in diagnostic and improved visualizations are expected to boost the adoption of telemedicine technologies which will eventually accelerate the growth of the global telemedicine technologies and services market during the forecast period.

However, lack of network infrastructure in emerging nations, lack of standard guidelines for utilization of telemedicine technologies and increased risk of a data breach are anticipated to restrain the growth of the global telemedicine technologies and services market. Additionally, the higher cost of telemedicine services is anticipated to hamper the growth of the telemedicine technologies and services market during the forecast period.

Key Players Covered

Major key players mentioned in the global telemedicine technologies and services market report are Medvivo, Koninklijke Philips N.V., Polycom, Inc., Ergotron, Inc., GE Healthcare, Cerner Corporation, Boston Scientific Corporation, Allscripts, Siemens Healthcare Private Limited, Resideo Life Care Solutions amongst others.

SEGMENTATION

As per current telemedicine technologies and services market trends, cloud-based modality segment is projected to register considerable CAGR owing to its higher adoption and benefits.

Key Insights

• Technological advancements in telemedicine technologies and services


• New product introduction by key players


• Recent industry developments such as partnerships, mergers, and acquisitions

Regional Analysis

Based on the region, the global telemedicine technologies and services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to contribute the highest share in global telemedicine technologies and services market owing to the rising emphasis on early disease detection and prevention and a growing number of healthcare facilities. Combined with this, benefits offered by telemedicine technologies such as better patient convenience, real-time communication and superior user-friendliness offered by telemedicine technologies and services are expected to boost the growth of the global telemedicine technologies and services market. The Asia Pacific holds huge potential for growth of the global telemedicine technologies and services due to the growing demand for advanced healthcare facilities. Moreover, the rapidly increasing adoption of electronic communication devices offers a favourable environment for the increased adoption of telemedicine technologies in emerging nations.

Telemedicine Technologies and Services Industry Developments

• In May 2019, UPMC announced the launch of new company, Infectious Disease Connect with an aim to improve the reach of healthcare providers to patients in lower costs.


• In April 2019, Humana and Doctor on Demand agreed upon strategic partnership to launch virtual primary healthcare plan on significantly lower monthly premiums.


• In February 2017, the association of Italtel and Exprivia announced the launch of new telemedicine system. The newly launched system will be integration of Italtel’s DoctorLINK and Exprivia’s eLifeCare platforms, that offers telemedicine services.