Telemedicine Market is expected to reach US$ 199,544.64 Mn by 2028

Published Date: 21 Apr 2021

Report : Telemedicine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Telehospital, and Telehome); Product and Services (Software and Hardware, Tele-Consulting, Tele-Monitoring, and Tele-Education/Training); Specialty (Cardiology, Gynecology, Neurology, Orthopedics, Dermatology, Mental Health, and Others); Delivery Mode (Mobile, Call Centers, and Web); and Geography

Telehospitals Segment to Contribute Largest Share to Telemedicine Market during 2020–2028

 

According to our latest study on “Telemedicine Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Product & Services, Specialty, and Delivery Mode,” the market was valued at US$ 51,094.75 million in 2020 and is projected to reach US$ 199,544.64 million by 2028; it is expected to grow at a CAGR of 18.6% during 2021–2028. The report highlights the trends prevailing in the market, and drivers and deterrents pertaining to the market growth.

 

Based on type, the telemedicine market is bifurcated into telehospital and telehome. In 2020, the telehospital segment accounted for a larger market share. The market growth for this segment is attributed to the increasing prevalence of chronic and lifestyle-associated diseases, and rising use of smartphones & development of various mobile platforms.. However, healthcare fraud and rising data security concerns restrain the market growth. On the other side, the increasing adoption of telemedicine amid COVID-19 outbreak pandemic offers lucrative opportunities for the growth of the global telemedicine market.

 

Allscripts Healthcare, LLC; Cerner Corporation; Cisco Systems, Inc.; Eagle Telemedicine; Honeywell International Inc.; McKesson Corporation; Koninklijke Philips N.V.; AMD Global Telemedicine, Inc.; American Well; Teladoc Health, Inc.; and Insight are among the prominent players operating in the telemedicine market. These companies are focusing on partnerships, product launches, collaborations, and other business strategies to sustain their position in the market. For instance, in December 2020, Philips acquired BioTelemetry, Inc, a global leader in patient care management solutions for the hospital and the home.


Telemedicine Market, by Region, 2020 (%)

Telemedicine Market, by Region, 2020 (%)

 

The report segments the global Telemedicine market as follows:

 

By Product and Services

  • Software and Hardware
  • Tele-Consulting
  • Tele-Monitoring
  • Tele-Education/Training

By Type

  • Telehospital
  • Telehome

By Speciality

  • Cardiology
  • Gynecology
  • Neurology
  • Orthopedics
  • Dermatology
  • Mental Health
  • Others

By Delivery Mode

  • Mobile
  • Call Centres
  • Web

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe

 

  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East and Africa
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of Middle East and Africa
  • South and Central America
    • Brazil
    • Argentina
    • Rest of South and Central America

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