Telemedicine is also known as telehealth or e-medicine, is the remote rendering of medical services via telecommunications infrastructure. Telemedicine includes the use of electronic communications and software to offer clinical services to patients without the requirements for personal visits. Telemedicine technology is generally used for follow-up, medication management, chronic disease management, expert consultation, and various other clinical services which can be provided remotely through secure video and audio connections. Patients can use their personal technology or visit a dedicated virtual medical kiosk to communicate with doctors at home. The rising prevalence of chronic diseases across the world is one of the major factors propelling the growth of the telehealth or telemedicine market. Moreover, increasing elderly population and the rising demand for home monitoring devices are also providing a boost to the telehealth or telemedicine market growth. There is large-scale adoption of telehealth systems in the area of cardiology, radiology and online consultation for the treatment of many medical ailments, such as diabetes, cancer and cardiovascular diseases (CVDs) which require frequent medical supervision. In addition, several technological advancements, such as the development of health monitoring smartphone applications and user-friendly systems, are also acting as key factor driving the market. Patients across the world are using different wearable devices, such as smartwatches and bands, to keep a regular check on blood pressure, blood glucose levels, sleeping patterns and chronic pain in the body. Few other factors, including the growing health consciousness among the people, coupled with extensive research and development (R&D) activities in the area of medical sciences and telecommunication technologies, are anticipated to propel the market further. However, the legal and reimbursement problems are likely to hamper the market growth.

Furthermore big data analytics can process collected data from telehealth modalities, including both objective and subjective data, coupled with historical data to allow risk prediction and management. Moreover, public payers, federal agencies, and large commercial insurers have increased the telehealth access amid the pandemic. The majority of them are striving to ensure that telehealth is being used to the right patients for the right healthcare requirements, increasing efficacy and efficiency in care delivery which is creating lucrative opportunity for the market. In respect to that, there appears to be vital potential in analytics, AI, and machine learning, as care delivery adapts to the considerable use of telehealth. Data-driven analytics therefore forms a prominent component of ensuring efficacy and efficiency of telehealth.

The global Telehealth or Telemedicine Market is segregated on the basis of component as Software & services and Hardware. Based on Mode of Delivery the global Telehealth or Telemedicine Market is segmented in Cloud-based and On-Premise. Based on Application the global Telehealth or Telemedicine Market is segmented in Teleradiology, Tele-consultation, Tele-ICU, Tele-stroke, Tele-psychiatry, Tele-dermatology and Other Applications. Based on End-User the global Telehealth or Telemedicine Market is segmented in Providers, Payers, Patients and Other End Users.

The global Telehealth or Telemedicine Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Telehealth or Telemedicine Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

AMC Health, American Well, Asahi Kasei Corporation, Cerner Corporation, Chiron Health and others are among the major players in the global Telehealth or Telemedicine Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In 2020, Koninklijke Philips collaborated with American Telemedicine Association (ATA) (US), this collaboration helped in increase the adoption of telehealth concept across acute, post-acute, and home care settings.
• In 2020, BioTelemetry bought the On.Demand remote patient monitoring (RPM) and coaching platform that is run by Envolve People Care, Inc., which is a Centene Corporation subdivision. This acquisition extends chronic RPM and coaching solutions to BioTelemetry’s present suite of acute care connected health products and services, emphasizing specifically on diabetes, hypertension, and chronic heart failure.
• In 2020, Philips, introduced the Avalon CL Fetal and Maternal Pod and Patch for patient remote monitoring in the US, Europe, Australia, New Zealand, and Singapore to support fetal and maternal monitoring.

The global Telehealth or Telemedicine Market has been segmented as below:

Telehealth or Telemedicine Market, By Component

• Software & services
• Hardware

Telehealth or Telemedicine Market, By Mode of Delivery

• Cloud-based
• On-Premise

Telehealth or Telemedicine Market, By Application

• Teleradiology
• Tele-consultation
• Tele-ICU
• Tele-stroke
• Tele-psychiatry
• Tele-dermatology
• Other Applications

Telehealth or Telemedicine Market, By End-User

• Providers
• Payers
• Patients
• Other End Users

Telehealth or Telemedicine Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Telehealth or Telemedicine Market, By Company

• AMC Health
• American Well
• Asahi Kasei Corporation
• Cerner Corporation
• Chiron Health
• Cisco Systems
• Doctor on Demand
• GE Healthcare
• Globalmed
• Imediplus
• Iron Bow Technologies
• Koninklijke Philips
• Mdlive
• Medtronic
• Medvivo Group
• Medweb
• Siemens Healthineers Ag
• Teladoc Health
• Telespecialists

The report covers the below scope:

• Global Telehealth or Telemedicine Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Telehealth or Telemedicine Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Telehealth or Telemedicine Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Telehealth or Telemedicine Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Telehealth or Telemedicine Market share. Major industry players with significant revenue share include AMC Health, American Well, Asahi Kasei Corporation, Cerner Corporation, Chiron Health and others.

Why to Buy this Report:

• Gain detailed insights on the Telehealth or Telemedicine industry trends
• Find complete analysis on the market status
• Identify the Telehealth or Telemedicine Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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