Global Telemedicine Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : HealthcarePublished Date : January 25th, 2018
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The global telemedicine market is expected to increase from USD 22.94 billion in 2017, to USD 63.06 billion in 2024, at a CAGR of 15.6% from 2018 to 2024. The overall demand of telemedicine have increased in recent years, owing to shortage of specialist physician in the rural area and growing aging population coupled with high prevalence of chronic diseases. The development of advance technology including smartphones and internet provides boost to the growth of the market. The years used for the assessment are as follows;

Historical year   :  2014, 2015, 2016

Base year            : 2017

Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total telemedicine market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global telemedicine market
  • Finalizing the overall size and share for the global telemedicine market

OBJECTIVES:

  • To classify global telemedicine market into segments on the basis of type, service, application, end-user and analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with the telemedicine market
  • To study market response with respect to the mergers and acquisitions in the industry
  • To profile key companies operating in the telemedicine market and provide their competitive landscape

MARKET SCOPE

The research scope for telemedicine market is as follows:

By Type

  • Real-time telemedicine
  • Store-and-forward telemedicine
  • Remote patient monitoring

By Service

  • Tele-surgery
  • Tele-education
  • Tele-training
  • Tele-monitoring
  • Tele-consultant
  • Tele-care

By Application

  • Dermatology
  • Radiology
  • Neurology
  • Oncology
  • Cardiology
  • Internal medicine
  • Orthopedics
  • Gynecology
  • Emergency care
  • Others

By End-User

  • Tele-hospital/tele-clinic market
  • Tele-home market

By Region

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Middle East and Africa

The global telemedicine market is expected to increase from USD 22.94 billion in 2017, to USD 63.06 billion in 2024, at a CAGR of 15.6% from 2018 to 2024.The shortage of specialist physician in the rural area and growing aging population coupled with high prevalence of chronic diseases are propelling the growth of global telemedicine market. However, lack of trained professionals and high technological cost are inhibiting the growth of the global telemedicine market.

Telemedicine is a telecommunication and information technology to provide healthcare service between a healthcare provider and patient in the remote area, where distance is a critical factor by using electronic audio and video and integrated medical devices. The advance technology including smart phones and internet provide thrust to the growth of the telemedicine market.

On the basis of application, radiology segment held the major share of the global telemedicine market in 2017 and is expected to hold its dominance during the forecast period, mainly due to the widely usage of this technology for better diagnosis of the radiological patients from distant physicians and radiologists. Based on the end-user, the tele-hospital/tele-clinic market held the major share in 2017.

Geographically, North America is the leading telemedicine market owing to the rising incidence of the chronic condition such as diabetes or heart disease. Further, technological advancement in the healthcare sector and acceptance for this technology has propelled the growth of telemedicine market in the region. Asia-Pacific is expected to register significant growth during the forecast period, owing to rising population coupled with an increasing shortage of specialist physicians.

Key companies operating in the telemedicine market include TELADOC, American Well, McKesson Ltd., Philips Healthcare, Cisco Systems, Inc., SHL Telemedicine Ltd., AMD Global Telemedicine, Inc., Honeywell Life Care Solutions, Honeywell Life Care Solutions, and Cerner.

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Market Definition

1.2. Market Segmentation

1.2.1. Market Breakdown, By Types

1.2.2. Market Breakdown, By Services

1.2.3. Market Breakdown, By Applications

1.2.4. Market Breakdown, By End-User

1.2.5. Market Breakdown, By Region

1.3. Research Methodology

1.3.1. Initial Data Search

1.3.2. Secondary Research

1.3.3. Primary Research

1.3.4. Scope and Assumptions

1.4. Sources

1.5. Executive Summary

CHAPTER 2. Market Outlook

2.1. Introduction

2.2. Market Outlook

2.2.1. Opportunities

2.2.1.1. Treating chronic condition

2.2.1.2. Reduce cost and improve health quality

2.2.2. Trends

2.2.2.1. Government and private funding support to the telemedicine adoption

2.2.2.2. Rise in patient engagement and mobile technologies

2.2.2.3. Positive impact on patients and health care organizations

2.2.3. Growth Drivers

2.2.3.1. Improved chronic and post acute care management

2.2.3.2. Increasing remote patient monitoring

2.2.3.3. Increasing demand for healthcare services in rural areas

2.2.4. Impact Analysis of Drivers on Future Forecast of the Market

2.2.5. Restraints of the Market

2.2.5.1. High cost of advanced technology

2.2.5.2. Lack of trained professionals

2.2.6. Impact Analysis of Restraints on Future Forecast of the Market

CHAPTER 3. Market Entry Strategy

3.1. PESTLE Analysis

3.2. Value Chain Analysis

3.3. Competitive Analysis

3.3.1. Company Market Share Analysis

3.3.2. Porter’s Five Forces Analysis

CHAPTER 4. Global Telemedicine Market Size and Forecast (2014 – 2024)

4.1. Global Telemedicine Market, By Types

4.1.1. Real-time telemedicine

4.1.2. Store-and-forward telemedicine

4.1.3. Remote patient monitoring

4.2. Global Telemedicine Market, By Services

4.2.1. Tele-Surgery

4.2.2. Tele-Education

4.2.3. Tele-Training

4.2.4. Tele-Monitoring

4.2.5. Tele-Consultation

4.2.6. Tele-Care

4.3. Global Telemedicine Market, By Applications

4.3.1. Dermatology

4.3.2. Radiology

4.3.3. Neurology

4.3.4. Oncology

4.3.5. Cardiology

4.3.6. Internal Medicine

4.3.7. Orthopedics

4.3.8. Gynecology

4.3.9. Emergency Care

4.3.10. Others

4.4. Global Telemedicine Market, By End-User

4.4.1. Telehospital/Teleclinic Market

4.4.2. Tele-home Market

4.5. Global Telemedicine Market, By Region

4.5.1. North America

4.5.2. Latin America

4.5.3. Europe

4.5.4. Asia-Pacific

4.5.5. Middle East and Africa

CHAPTER 5. Global Telemedicine Market, By Geography

5.1. North America Telemedicine Market

5.1.1. North America Telemedicine Market, By Types (USD Billion)

5.1.2. North America Telemedicine Market, By Service (USD Billion)

5.1.3. North America Telemedicine Market, By Applications (USD Billion)

5.1.4. North America Global Telemedicine Market, By End-User (USD Billion)

5.1.5. North America Global Telemedicine Market, By Country

5.1.5.1. The U.S.

5.1.5.2. Canada

5.2. Latin America Telemedicine Market

5.2.1. Latin America Telemedicine Market, By Types (USD Billion)

5.2.2. Latin America Telemedicine Market, By Service (USD Billion)

5.2.3. Latin America Telemedicine Market, By Applications (USD Billion)

5.2.4. Latin America Telemedicine Market By End-User (USD Billion)

5.2.5. Latin America Telemedicine Market By Country

5.2.5.1. Argentina

5.2.5.2. Brazil

5.2.5.3. Mexico

5.2.5.4. Rest of Latin America

5.2.5.4.1. Rest of Latin America Telemedicine Market, By Types (USD Billion)

5.2.5.4.2. Rest of Latin America Telemedicine Market, By Service (USD Billion)

5.2.5.4.3. Rest of Latin America Telemedicine Market, By Applications (USD Billion)

5.2.5.4.4. Rest of Latin America Telemedicine Market, By End-User (USD Billion)

5.3. Europe Telemedicine Market

5.3.1. Europe Telemedicine Market, By Types (USD Billion)

5.3.2. Europe Telemedicine Market, By Service (USD Billion)

5.3.3. Europe Telemedicine Market, By Applications (USD Billion)

5.3.4. Europe Telemedicine Market, By End-User (USD Billion)

5.3.5. Europe Telemedicine Market, By Country

5.3.5.1. Germany

5.3.5.2. France

5.3.5.3. The U.K.

5.3.5.4. Russia

     5.3.6. Rest of Europe

5.3.6.1. Rest of Europe Telemedicine Market By Types (USD Billion)

5.3.6.2. Rest of Europe Telemedicine Market By Service (USD Billion)

5.3.6.3. Rest of Europe Telemedicine Market By Applications (USD Billion)

5.3.6.4. Rest of Europe Telemedicine Market By End-User (USD Billion)

5.4. Asia-Pacific Telemedicine Market

5.4.1. Asia-Pacific Telemedicine Market, By Types (USD Billion)

5.4.2. Asia-Pacific Telemedicine Market, By Service (USD Billion)

5.4.3. Asia-Pacific Telemedicine Market, By Applications (USD Billion)

5.4.4. Asia-Pacific Telemedicine Market, By End-User (USD Billions)

5.4.5. Asia-Pacific Telemedicine Market, By Country

5.4.5.1. China

5.4.5.2. Japan

5.4.5.3. Australia

5.4.5.4. India

5.4.5.5. Rest of Asia-Pacific

5.4.5.5.1. Rest of Asia-Pacific Telemedicine Market, By Types (USD Billion)

5.4.5.5.2. Rest of Asia-Pacific Telemedicine Market, By Service (USD Billion)

5.4.5.5.3. Rest of Asia-Pacific Telemedicine Market By Applications (USD Billion)

5.4.5.5.4. Rest of Asia-Pacific Telemedicine Market By End-User (USD Billion)

5.5. Middle East and Africa Telemedicine Market

5.5.1. Middle East and Africa Telemedicine Market, By Types (USD Billion)

5.5.2. Middle East and Africa Telemedicine Market, By Service (USD Billion)

5.5.3. Middle East and Africa Telemedicine Market, By Applications (USD Billion)

5.5.4. Middle East and Africa Telemedicine Market, By End-User (USD Billions)

5.5.5. Middle East and Africa Telemedicine Market, By Country

5.5.5.1. Egypt

5.5.5.2. Algeria

5.5.5.3. Iran

5.5.5.4. Rest of Middle East and Africa

5.5.5.4.1. Rest of Middle East and Africa Telemedicine Market, By Types (USD Billion)

5.5.5.4.2. Rest of Middle East and Africa Telemedicine Market, By Service (USD Billion)

5.5.5.4.3. Rest of Middle East and Africa Telemedicine Market By Applications (USD Billion)

5.5.5.4.4. Rest of Middle East and Africa Telemedicine Market By End-User (USD Billion)

CHAPTER 6. Key Players and Strategic Developments

6.1. TELADOC

6.1.1. Business Overview

6.1.2. Product and Service Offering

6.1.3. Financial Overview

6.1.4. SWOT Analysis

6.1.5. Strategic Developments

6.2. American Well

6.2.1. Business Overview

6.2.2. Product and Service Offering

6.2.3. Financial Overview

6.2.4. SWOT Analysis

6.2.5. Strategic Developments

6.3. McKesson Ltd.

6.3.1. Business Overview

6.3.2. Product and Service Offering

6.3.3. Financial Overview

6.3.4. SWOT Analysis

6.3.5. Strategic Developments

6.4. Philips Healthcare

6.4.1. Business Overview

6.4.2. Product and Service Offering

6.4.3. Financial Overview

6.4.4. SWOT Analysis

6.4.5. Strategic Developments

6.5. Cisco Systems, Inc.

6.5.1. Business Overview

6.5.2. Product and Service Offering

6.5.3. Financial Overview

6.5.4. SWOT Analysis

6.5.5. Strategic Developments

6.6. SHL Telemedicine Ltd.

6.6.1. Business Overview

6.6.2. Product and Service Offering

6.6.3. Financial Overview

6.6.4. SWOT Analysis

6.6.5. Strategic Developments

6.7. AMD Global Telemedicine, Inc.

6.7.1. Business Overview

6.7.2. Product and Service Offering

6.7.3. Financial Overview

6.7.4. SWOT Analysis

6.7.5. Strategic Developments

6.8. GE Healthcare Ltd.

6.8.1. Business Overview

6.8.2. Product and Service Offering

6.8.3. Financial Overview

6.8.4. SWOT Analysis

6.8.5. Strategic Developments

6.9. Honeywell Life Care Solutions

6.9.1. Business Overview

6.9.2. Product and Service Offering

6.9.3. Financial Overview

6.9.4. SWOT Analysis

6.9.5. Strategic Developments

6.10. Cerner

6.10.1. Business Overview

6.10.2. Product and Service Offering

6.10.3. Financial Overview

6.10.4. SWOT Analysis

6.10.5. Strategic Developments

6.11. Abbreviations

Global Telemedicine Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation Forecast 2024