Market Revenue Telemedicine Market Porters Five Forces Analysis

Telemedicine Market Porters Five Forces Analysis, Key takeaways
Forecast 2025
“Telemedicine Market size was valued at USD 24.9 billion in 2016 and is
anticipated to reach USD 113.1 billion by 2025, with a CAGR of 18.3%. Global
telemedicine demand is expected to show a steady growth on account of
increasing focus on emergency healthcare services.”
The global Telemedicine Market size was valued at USD 24.9 billion in 2016 and is anticipated to reach USD
113.1 billion by 2025, with a CAGR of 18.3%. Global telemedicine demand is expected to show a steady growth
on account of increasing focus on emergency healthcare services. Development of information technology and
increased internet speed has significantly contributed towards the overall industry growth. Telemedicine is a
service through which healthcare service is delivered with the help of communication technologies for patients
at a distance. It is used to provide clinical healthcare facilities that are not available in remote areas. It helps in
eliminating distance barriers and often used in emergency situations.
Delivery of healthcare service in remote and rural areas drives the overall market. It is difficult for medical
institutions to set up their facilities in rural markets. These markets are catered through telemedicine
technology. Telemedicine is beneficial for patients who live in isolated communities. These patients can receive
treatment from doctors without the need for patients to travel to visit them. Development in mobile technology
has helped healthcare professionals share information and discuss medical issues on a real time basis as if
doctors were present in the same place. Telemedicine eliminates the risk of transmission of contagious diseases
between patients and physicians. Some patients do not feel comfortable in seeking a treatment at a doctor’s
clinic. Some patients are home bound are require an ambulance for their movement. These kinds of patient
characteristics drive the market growth over the future. Telemedicine has helped to fasten the treatment
process especially in the field of emergency healthcare.
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