Telemedicine Market is Projected to Surpass US$36.3 bn by 2020


Posted May 13, 2019 by pragya11

Telemedicine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

 
Global Telemedicine Market: Snapshot

The rapid development of the healthcare industry and the expansion of the computerized well-being stages, which are projected to enhance the growth of the global tele-medicine market in the next few years. The advent of computerized health stages in order to enhance the remote checking of patients and the increment of healthcare conveyance efficiencies are further estimated to support the market growth in the coming few years. In addition to this, the rise in the awareness among people concerning the benefits of telemedicine is projected to propel the telemedicine market across the globe in the near future. The rising research activities and the increasing investments for innovations are likely to provide promising growth opportunities in the next few years.

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Rising Adoption of Telemedicine to Encourage Market Growth

As per the research report by Transparency Market Research, in 2014, the global market for telemedicine stood at US$14.3 bn and is estimated to attain a value US$36.3 bn by the end of 2020. The market is likely to register a promising 14.30% CAGR between 2014 and 2020.

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The global market for telemedicine has been classified on the basis of service type into tele-care, tele-surgery, tele-consultation, tele-monitoring, tele-training, and tele-education. Among these, the tele-consultation segment is predicted to hold a major share of the market in the next few years. The rise in the geriatric population and the increasing prevalence of cardiovascular and diabetes are the few factors that are estimated to enhance the market growth in the next few years. In addition to this, the rising cases of Parkinson’s and Alzheimer’s is another factor that is estimated to support the market growth in the near future. The rise in the demand for continuous monitoring of patients is predicted to boost the demand for tele-monitoring in the near future. Furthermore, the tele-training, tele-education, and tele-surgery segments are predicted to witness healthy growth in the coming few years.

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Issued By Pragya Tripathi
Business Address State Tower,90 State Street, Suite 700
Country United States
Categories Health
Tags telemedicine market
Last Updated May 13, 2019