The global telemedicine market was valued at $17,878.7 million in 2015, and it is expected to grow at a CAGR of 18.7% during 2016 – 2022. Among the various services, the tele-monitoring segment is expected to witness the fastest growth during the forecast period, at a CAGR of 21.8%. The global telemedicine market is growing at a significant rate, due to growing geriatric population, increasing healthcare cost, increasing government funding and grants for telemedicine, and increasing prevalence of chronic and lifestyle associated diseases. In addition, the increasing medical tourism, increasing medical requirement in remote location, increasing number of smart phone users, and consistent need for improved healthcare quality services is also driving the growth of the global telemedicine market.
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Telemedicine is a telecommunication technology for providing remote healthcare services through real-time two-way communication between the healthcare provider and patient, by using electronic audio and visual means. Telemedicine is categorised as store-and-forward, remote monitoring and interactive services.
Telemedicine services are used in several medical areas, such as pathology, cardiology, radiology, genetics, diabetes control, psychiatry, and primary healthcare. The deployment of telemedicine services has significantly changed the healthcare services, due to various technological innovation in the field of medical device and services.
Factors, such as high technological cost and lack of trained professionals, and inadequate healthcare infrastructure in developing economies are inhibiting the growth of the global market. The increasing number of collaborations and partnerships is the key trend observed in the global telemedicine market.
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GLOBAL TELEMEDICINE MARKET SEGMENTATION
By End User
- Tele-Hospital and Clinic
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia
- Rest of the World (RoW)
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