Technavio has been monitoring the telemedicine market and it is poised to grow by USD 56.47 bn during 2020-2024, progressing at a CAGR of almost 19% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Telemedicine Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
What are the major trends in the market?
Integration of AI with telemedicine is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 19.61% and the incremental growth of the market is anticipated to be $ 56.47 bn.
Who are the top players in the market?
Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions Inc., BioTelemetry Inc., Cisco Systems Inc., General Electric Co., HP Inc., International Business Machines Corp., Koninklijke Philips NV, Medtronic Plc, and Siemens Healthineers AG, are some of the major market participants.
What is the key market driver?
The demand for digital health platforms is one of the major factors driving the market.
- How big is the North America market?
- The North America region will contribute 40% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions Inc., BioTelemetry Inc., Cisco Systems Inc., General Electric Co., HP Inc., International Business Machines Corp., Koninklijke Philips NV, Medtronic Plc, and Siemens Healthineers AG are some of the major market participants. The demand for digital health platforms will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Telemedicine Market 2020-2024: Segmentation
Telemedicine Market is segmented as below:
- Telehospital And Teleclinic
- North America
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Telemedicine Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The telemedicine market report covers the following areas:
- Telemedicine Market Size
- Telemedicine Market Trends
- Telemedicine Market Industry Analysis
This study identifies the integration of AI with telemedicine as one of the prime reasons driving the telemedicine market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Telemedicine Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist telemedicine market growth during the next five years
- Estimation of the telemedicine market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the telemedicine market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of telemedicine market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Services – Market size and forecast 2019-2024
- Solutions – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Telehospital and teleclinic – Market size and forecast 2019-2024
- Telehome – Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- Asia – Market size and forecast 2019-2024
- ROW – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Aerotel Medical Systems Ltd.
- Allscripts Healthcare Solutions Inc.
- BioTelemetry Inc.
- Cisco Systems Inc.
- General Electric Co.
- HP Inc.
- International Business Machines Corp.
- Koninklijke Philips NV
- Medtronic Plc
- Siemens Healthineers AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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