Global Telemedicine Market Outlook 2022
Telemedicine technology is a game changer for the healthcare industry, as it brings healthcare directly into patient’s doorstep. Telemedicine makes use of electronic technologies, such as email, smart phones, and video conferencing, for exchanging the medical information of the patient. This technology has helped the healthcare providers to extend their services to remote areas effectively. Furthermore, this technology is also extensively being used for elderly population as well as for people who are unable to reach healthcare provider due to inability to walk or chronic disease. Consultations through video calling, transferring medical images, and vital signs monitoring amongst others are the major applications of telemedicine.
According to a new research report published by RNCOS, “Global Telemedicine Market Outlook 2022”, the market for telemedicine was valued at US$ 29.6 Billion in 2017 and is anticipated to grow at a CAGR of approximately 19% during 2017-2022. The growth of the market is likely to be driven by increasing adoption of telemedicine, rising incidences of chronic diseases, growing geriatric population, government initiatives, and shortage of physicians amongst others.
The report provides insights about various factors that are affecting the growth of the markets. Furthermore, the report also includes the major trends and opportunities that will propel the industry’s growth.
Based on end users, the report broadly categorizes telemedicine market into Telehospitals/Teleclinics and Telehome. Telehospitals/Teleclinics emerged as the major revenue earners of the industry, holding the largest share. The telehospitals market is further sub-divided into teleradiology, telecardiology, telepsychiatry, and teledermatology amongst others, based on Specialty. Teleradiology accounted for the largest share of the telehospital market by Specialty. This large share of the market is attributed to wide usage of this technology for transferring patient’s medical reports.
Based on component, the telemedicine market is further categorized into services, hardware, software, and telecom and networking. The telemedicine service market accounted for largest share in the total telemedicine market in 2017.
The report also offers a geographic analysis of the global telemedicine market by segmenting into four major geographic regions - North America, Europe, Asia Pacific, and Rest of the World. North America is the largest market for telemedicine. This high share is attributed to relative high adoption of technology in the market coupled with higher government support. The Asia Pacific market is poised to witness the highest growth owing to increasing focus of players in this region.
Overall, the report provides an extensive information and rational analysis of the global telemedicine market. A separate section is devoted to the major mergers & acquisitions that have taken place in the past year. The report concludes with detailed business profiles along with financials of some of the key players operating in the market. Some of the key players operating in the market are McKesson Corporation, Philips Healthcare, GE Healthcare Ltd., Cerner Corporation, IBM, Honeywell Life Care Solutions, AMD Global Telemedicine, Inc., Cisco Systems, Inc., and Medtronic plc. In addition, the report elucidates key developments of players, which will enable clients to formulate market strategies and assess the opportunity areas in key geographies.
According to a new research report published by RNCOS, “Global Telemedicine Market Outlook 2022”, the market for telemedicine was valued at US$ 29.6 Billion in 2017 and is anticipated to grow at a CAGR of approximately 19% during 2017-2022. The growth of the market is likely to be driven by increasing adoption of telemedicine, rising incidences of chronic diseases, growing geriatric population, government initiatives, and shortage of physicians amongst others.
The report provides insights about various factors that are affecting the growth of the markets. Furthermore, the report also includes the major trends and opportunities that will propel the industry’s growth.
Based on end users, the report broadly categorizes telemedicine market into Telehospitals/Teleclinics and Telehome. Telehospitals/Teleclinics emerged as the major revenue earners of the industry, holding the largest share. The telehospitals market is further sub-divided into teleradiology, telecardiology, telepsychiatry, and teledermatology amongst others, based on Specialty. Teleradiology accounted for the largest share of the telehospital market by Specialty. This large share of the market is attributed to wide usage of this technology for transferring patient’s medical reports.
Based on component, the telemedicine market is further categorized into services, hardware, software, and telecom and networking. The telemedicine service market accounted for largest share in the total telemedicine market in 2017.
The report also offers a geographic analysis of the global telemedicine market by segmenting into four major geographic regions - North America, Europe, Asia Pacific, and Rest of the World. North America is the largest market for telemedicine. This high share is attributed to relative high adoption of technology in the market coupled with higher government support. The Asia Pacific market is poised to witness the highest growth owing to increasing focus of players in this region.
Overall, the report provides an extensive information and rational analysis of the global telemedicine market. A separate section is devoted to the major mergers & acquisitions that have taken place in the past year. The report concludes with detailed business profiles along with financials of some of the key players operating in the market. Some of the key players operating in the market are McKesson Corporation, Philips Healthcare, GE Healthcare Ltd., Cerner Corporation, IBM, Honeywell Life Care Solutions, AMD Global Telemedicine, Inc., Cisco Systems, Inc., and Medtronic plc. In addition, the report elucidates key developments of players, which will enable clients to formulate market strategies and assess the opportunity areas in key geographies.
1. ANALYST VIEW
2. RESEARCH METHODOLOGY
3. TELEMEDICINE: AN INTRODUCTION
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Enabling Remote Patient Monitoring
4.1.2 Combating Doctor Shortages with Telemedicine
4.1.3 Strong Government Support in the US
4.1.4 Ability of Telemedicine to Reduce Healthcare Cost
4.1.5 Rising Adoption of Tele-health
4.1.6 Increasing Prevalence of Chronic Diseases
4.1.7 Growing Geriatric Population
4.2 Restraints
4.2.1 Legality, Privacy, and Security Concerns
4.2.2 Relatively Low Adoption of Telemedicine in Developing Countries
4.2.3 Lack of Proper Regulatory Framework
4.3 Opportunities
4.3.1 Personal Emergency Response Systems (PERS)
4.3.2 Video Diagnostic Consultation
4.3.3 Remote Cardiac Services
4.3.4 More ACOs Using Technology to Improve Care and Cut Costs
4.3.5 Expanding Reimbursement and Payment Opportunities
4.4 Trends
4.4.1 Increasing Number of Retail Clinics and Employer Onsite Health Centers
4.4.2 Emergence of Remote Clinical Enterprises
5. GLOBAL TELEMEDICINE MARKET
6. GLOBAL TELEMEDICINE MARKET BY END-USERS
6.1 Global Telehospital/Teleclinic Market
6.1.1 Global Telehospital/Teleclinic Market by Specialty
6.1.1.1 Teleradiology
6.1.1.2 Telecardiology
6.1.1.3 Telepsychiatry
6.1.1.4 Telepathology
6.1.1.5 Teledermatology
6.1.1.6 Others
6.2 Global Tele-home Market
7. GLOBAL TELEMEDICINE MARKET BY COMPONENT
7.1 Services
7.2 Hardware
7.3 Software
7.4 Telecom & Networking
8. GLOBAL TELEMEDICINE MARKET BY GEOGRAPHY
8.1 North America
8.2 Europe
8.3 Asia Pacific
8.4 Rest of the World (RoW)
9. MERGERS & ACQUISITIONS
10. COMPANY PROFILES
10.1 McKesson Corporation
10.2 Philips Healthcare
10.3 GE Healthcare Ltd.
10.4 Cerner Corporation
10.5 IBM
10.6 Honeywell Life Care Solutions
10.7 AMD Global Telemedicine, Inc.
10.8 Cisco Systems, Inc.
10.9 Medtronic plc
2. RESEARCH METHODOLOGY
3. TELEMEDICINE: AN INTRODUCTION
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Enabling Remote Patient Monitoring
4.1.2 Combating Doctor Shortages with Telemedicine
4.1.3 Strong Government Support in the US
4.1.4 Ability of Telemedicine to Reduce Healthcare Cost
4.1.5 Rising Adoption of Tele-health
4.1.6 Increasing Prevalence of Chronic Diseases
4.1.7 Growing Geriatric Population
4.2 Restraints
4.2.1 Legality, Privacy, and Security Concerns
4.2.2 Relatively Low Adoption of Telemedicine in Developing Countries
4.2.3 Lack of Proper Regulatory Framework
4.3 Opportunities
4.3.1 Personal Emergency Response Systems (PERS)
4.3.2 Video Diagnostic Consultation
4.3.3 Remote Cardiac Services
4.3.4 More ACOs Using Technology to Improve Care and Cut Costs
4.3.5 Expanding Reimbursement and Payment Opportunities
4.4 Trends
4.4.1 Increasing Number of Retail Clinics and Employer Onsite Health Centers
4.4.2 Emergence of Remote Clinical Enterprises
5. GLOBAL TELEMEDICINE MARKET
6. GLOBAL TELEMEDICINE MARKET BY END-USERS
6.1 Global Telehospital/Teleclinic Market
6.1.1 Global Telehospital/Teleclinic Market by Specialty
6.1.1.1 Teleradiology
6.1.1.2 Telecardiology
6.1.1.3 Telepsychiatry
6.1.1.4 Telepathology
6.1.1.5 Teledermatology
6.1.1.6 Others
6.2 Global Tele-home Market
7. GLOBAL TELEMEDICINE MARKET BY COMPONENT
7.1 Services
7.2 Hardware
7.3 Software
7.4 Telecom & Networking
8. GLOBAL TELEMEDICINE MARKET BY GEOGRAPHY
8.1 North America
8.2 Europe
8.3 Asia Pacific
8.4 Rest of the World (RoW)
9. MERGERS & ACQUISITIONS
10. COMPANY PROFILES
10.1 McKesson Corporation
10.2 Philips Healthcare
10.3 GE Healthcare Ltd.
10.4 Cerner Corporation
10.5 IBM
10.6 Honeywell Life Care Solutions
10.7 AMD Global Telemedicine, Inc.
10.8 Cisco Systems, Inc.
10.9 Medtronic plc
LIST OF FIGURES:
Figure 5-1: Global - Telemedicine Market (Billion US$), 2017-2022
Figure 6-1: Global - Telemedicine Market Segmentation by End-Users (%), 2017
Figure 6-2: Global - Telemedicine Market Segmentation by End-Users (%), 2022
Figure 6-3: Global - Telehospital/Teleclinic Market (Billion US$), 2017-2022
Figure 6-4: Global - Telehospital/Teleclinic Market by Geography (%), 2017
Figure 6-5: Global - Telehospital/Teleclinic Market by Geography (%), 2022
Figure 6-6: Global - Telehospital/Teleclinic Market Share by Specialty (%), 2017
Figure 6-7: Global - Telehospital/Teleclinic Market Share by Specialty (%), 2022
Figure 6-8: Global - Teleradiology Market (Billion US$), 2017-2022
Figure 6-9: Global - Telecardiology Market (Billion US$), 2017-2022
Figure 6-10: Global - Telepsychiatry Market (Billion US$), 2017-2022
Figure 6-11: Global - Telepathology Market (Billion US$), 2017-2022
Figure 6-12: Global - Teledermatology Market (Billion US$), 2017-2022
Figure 6-13: Global - Other Specialties Market (Billion US$), 2017-2022
Figure 6-14: Global - Tele-home Market (Billion US$), 2017-2022
Figure 6-15: Global - Telehome Market by Geography (%), 2017
Figure 6-16: Global - Telehome Market by Geography (%), 2022
Figure 7-1: Global - Telemedicine Market Segmentation by Component (%), 2017
Figure 7-2: Global - Telemedicine Market Segmentation by Component (%), 2022
Figure 7-3: Global - Telemedicine Services Market (Billion US$), 2017-2022
Figure 7-4: Global - Telemedicine Hardware Market (Billion US$), 2017-2022
Figure 7-5: Global - Telemedicine Software Market (Billion US$), 2017-2022
Figure 7-6: Global - Telemedicine Telecom & Networking Market (Billion US$), 2017-2022
Figure 8-1: Global - Telemedicine Market Segmentation by Geographies (%), 2017
Figure 8-2: Global - Telemedicine Market Segmentation by Geographies (%), 2022
Figure 8-3: North America - Telemedicine Market (Billion US$), 2017-2022
Figure 8-4: Europe - Telemedicine Market (Billion US$), 2017-2022
Figure 8-5: Asia-Pacific - Telemedicine Market (Billion US$), 2017-2022
Figure 8-6: Rest of the World - Telemedicine Market (Billion US$), 2017-2022
Figure 10-1: McKesson Corporation - Breakup of Revenue by Business Segments (%), 2019
Figure 10-2: McKesson Corporation - Breakup of Revenue by Geography (%), 2019
Figure 10-3: Philips Group - Breakup of Revenue by Business Segments (%), 2019
Figure 10-4: Philips Group - Breakup of Revenue by Geography (%), 2019
Figure 10-5: GE Healthcare - Breakup of Revenue by Business Segments (%), 2019
Figure 10-6: GE Healthcare - Breakup of Revenue by Geography (%), 2019
Figure 10-7: Cerner Corporation - Breakup of Revenue by Business Segments (%), 2019
Figure 10-8: Cerner Corporation - Breakup of Revenue by Geography (%), 2019
Figure 10-9: IBM - Breakup of Revenue by Business Segments (%), 2019
Figure 10-10: IBM - Breakup of Revenue by Geography (%), 2019
Figure 10-11: Cisco Systems, Inc. - Breakup of Revenue by Business Segments (%), 2019
Figure 10-12: Cisco Systems, Inc. - Breakup of Revenue by Geography (%), 2019
Figure 10-13: Medtronic plc - Breakup of Revenue by Business Segments (%), 2019
Figure 10-14: Medtronic plc - Breakup of Revenue by Geography (%), 2019
Figure 5-1: Global - Telemedicine Market (Billion US$), 2017-2022
Figure 6-1: Global - Telemedicine Market Segmentation by End-Users (%), 2017
Figure 6-2: Global - Telemedicine Market Segmentation by End-Users (%), 2022
Figure 6-3: Global - Telehospital/Teleclinic Market (Billion US$), 2017-2022
Figure 6-4: Global - Telehospital/Teleclinic Market by Geography (%), 2017
Figure 6-5: Global - Telehospital/Teleclinic Market by Geography (%), 2022
Figure 6-6: Global - Telehospital/Teleclinic Market Share by Specialty (%), 2017
Figure 6-7: Global - Telehospital/Teleclinic Market Share by Specialty (%), 2022
Figure 6-8: Global - Teleradiology Market (Billion US$), 2017-2022
Figure 6-9: Global - Telecardiology Market (Billion US$), 2017-2022
Figure 6-10: Global - Telepsychiatry Market (Billion US$), 2017-2022
Figure 6-11: Global - Telepathology Market (Billion US$), 2017-2022
Figure 6-12: Global - Teledermatology Market (Billion US$), 2017-2022
Figure 6-13: Global - Other Specialties Market (Billion US$), 2017-2022
Figure 6-14: Global - Tele-home Market (Billion US$), 2017-2022
Figure 6-15: Global - Telehome Market by Geography (%), 2017
Figure 6-16: Global - Telehome Market by Geography (%), 2022
Figure 7-1: Global - Telemedicine Market Segmentation by Component (%), 2017
Figure 7-2: Global - Telemedicine Market Segmentation by Component (%), 2022
Figure 7-3: Global - Telemedicine Services Market (Billion US$), 2017-2022
Figure 7-4: Global - Telemedicine Hardware Market (Billion US$), 2017-2022
Figure 7-5: Global - Telemedicine Software Market (Billion US$), 2017-2022
Figure 7-6: Global - Telemedicine Telecom & Networking Market (Billion US$), 2017-2022
Figure 8-1: Global - Telemedicine Market Segmentation by Geographies (%), 2017
Figure 8-2: Global - Telemedicine Market Segmentation by Geographies (%), 2022
Figure 8-3: North America - Telemedicine Market (Billion US$), 2017-2022
Figure 8-4: Europe - Telemedicine Market (Billion US$), 2017-2022
Figure 8-5: Asia-Pacific - Telemedicine Market (Billion US$), 2017-2022
Figure 8-6: Rest of the World - Telemedicine Market (Billion US$), 2017-2022
Figure 10-1: McKesson Corporation - Breakup of Revenue by Business Segments (%), 2019
Figure 10-2: McKesson Corporation - Breakup of Revenue by Geography (%), 2019
Figure 10-3: Philips Group - Breakup of Revenue by Business Segments (%), 2019
Figure 10-4: Philips Group - Breakup of Revenue by Geography (%), 2019
Figure 10-5: GE Healthcare - Breakup of Revenue by Business Segments (%), 2019
Figure 10-6: GE Healthcare - Breakup of Revenue by Geography (%), 2019
Figure 10-7: Cerner Corporation - Breakup of Revenue by Business Segments (%), 2019
Figure 10-8: Cerner Corporation - Breakup of Revenue by Geography (%), 2019
Figure 10-9: IBM - Breakup of Revenue by Business Segments (%), 2019
Figure 10-10: IBM - Breakup of Revenue by Geography (%), 2019
Figure 10-11: Cisco Systems, Inc. - Breakup of Revenue by Business Segments (%), 2019
Figure 10-12: Cisco Systems, Inc. - Breakup of Revenue by Geography (%), 2019
Figure 10-13: Medtronic plc - Breakup of Revenue by Business Segments (%), 2019
Figure 10-14: Medtronic plc - Breakup of Revenue by Geography (%), 2019
LIST OF TABLES:
Table 10-1: McKesson Corporation - Key Financials (Billion US$), 2017-2019
Table 10-2: Philips Group - Key Financials (Billion US$), 2017-2019
Table 10-3: GE Healthcare - Key Financials (Billion US$), 2017-2019
Table 10-4: Cerner Corporation - Key Financials (Billion US$), 2017-2019
Table 10-5: IBM - Key Financials (Billion US$), 2017-2019
Table 10-6: Cisco Systems, Inc. - Key Financials (Billion US$), 2017-2019
Table 10-7: Medtronic plc - Key Financials (Billion US$), 2017-2019
Table 10-1: McKesson Corporation - Key Financials (Billion US$), 2017-2019
Table 10-2: Philips Group - Key Financials (Billion US$), 2017-2019
Table 10-3: GE Healthcare - Key Financials (Billion US$), 2017-2019
Table 10-4: Cerner Corporation - Key Financials (Billion US$), 2017-2019
Table 10-5: IBM - Key Financials (Billion US$), 2017-2019
Table 10-6: Cisco Systems, Inc. - Key Financials (Billion US$), 2017-2019
Table 10-7: Medtronic plc - Key Financials (Billion US$), 2017-2019
