Market Scenario
The Global Telemedicine Market is presumed to garner USD 56,738.3 during the forecast
period (2014-2023). The market is expected to project 16.8% CAGR owing to the
prevalence of chronic diseases, asserts Market Research Future (MRFR). Telemedicine is
referred to as the remote delivery of healthcare services like consultations over
teleconference or telecommunication, which enables healthcare professionals to diagnose,
evaluate, and treat patients. It serves as a provision for several remote clinical services
which helps in the two-way communication between the patient and healthcare provider.
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Drivers and Constraints Impacting the Market
With the increasing adoption of electronic medical record and electronic health record, the
global telemedicine market is likely to flourish during the assessment period. Growing
incidences of chronic diseases such as cancer and diabetes coupled with the increasing
demand for improving the healthcare services are boosting the market. Healthcare
organizations are also adopting digital healthcare platforms in order to enable remote
monitoring of the patients. Remote monitoring will foster the efficiency of operations and
will also reduce the cost. Moreover, such technology platforms provide a wide range of
healthcare needs such as clinical disease support, chronic disease management, and
population health management. Such benefits are further considered to stimulate the
market growth of telemedicine in the coming years.
On the flip side, high cost of implementing telemedicine systems such as EHR and EMR is
considered to retard the global telemedicine market. Strict regulations associated with
telemedicine are anticipated to hinder the growth across the globe. Moreover, lack of
technical expertise and underdeveloped infrastructure in the developing countries acts as a
barrier to the growth of the market.
Competitive Dashboard
The prominent players operating the global telemedicine market are Iris Telehealth,
Cardiocom, AMD Global Telemedicine Inc., Cisco, Aerotel Medical Systems Ltd., Cerner
Corporation, Tunstall Healthcare, Honeywell Lifesciences, CareClix, GENERAL ELECTRIC,
Care Innovations, CardioNet, SHL Telemedicine, Allscripts Healthcare Solutions, Aerotel
Medical Systems, TeleVital, Koninklijke Philips N.V., Intel Corporation, Medvivo Group Ltd.,
IBM Corporation, Medtronic, and others.
Global Telemedicine Market: Segmental Analysis
The telemedicine market is segmented on the basis of component, service type, application,
deployment, end-user, and region.
By mode of service type, the global telemedicine market has been segmented into
telepharmacy, telenursing, teledermatology, teleradiology, tele-oncology, and others.
By mode of component, the global telemedicine market has been segmented into hardware
and software. Among these, the software segment has been sub-segmented into standalone
software and integrated software. The hardware segment has been sub-segmented into
medical peripheral devices and monitors.
By mode of deployment, the global telemedicine market has been segmented into on-
premise and cloud-based. Among these, the cloud-based deployment holds the major
market share and is estimated to maintain its dominance over the forecast period.
By mode of application, the global telemedicine market has been segmented into
ophthalmology, cardiology, radiology, psychiatry, dermatology, and others.
By mode of end-users, the global telemedicine market has been segmented into homecare,
hospitals, and clinics.