Telemedicine Market to Register Stable Expansion During 2021 – 2028: Grand View Research Inc.

 In today’s tech-savvy world where everything, right from a can to a car can be ordered from online websites and apps, it is high time that medical treatment, which is mostly exclusive to the doctor’s clinic or hospital right now, should also make a change for the better.

This is where Telemedicine comes into the picture. Telemedicine as a process, seeks to distribute health information and its related services through electronic media to the general public. It helps the patients and clinician to contact each other remotely, go through the previous care, review its data and delineate the future course of treatment. In addition to this, it also allows patient follow-ups, reminders, education, intervention, monitoring and remote admissions.

Telemedicine has really come through for many of us in these hard times of pandemic and has seen a remarkable growth in its market share. The infographic below is made to highlight those key market drivers, its challenges and important bifurcation of the market in terms of telemedicine type preferred by the general public. Also, there are some supportive facts that can stir your interest right up in the market. Thank me later!

Telemedicine Market – What & How!

The next section is for those, who were intrigued by the information inside and thought to themselves, What about other market segmentations? or I wish, I got to know more about the market players!  To you my curious friend, I say, et voila!

Some of the important market statistics –

• The global telemedicine market size is expected to reach USD 298.9 billion by 2028
• In Technology, the store and forward segment dominated with largest revenue share of around 40.0% in 2020
• When it comes to Applications, teleradiology segment ruled the roost with more than 26.0% revenue share in 2020
• The web/mobile based delivery model dominated the market for telemedicine and accounted for the largest revenue share of 78.6% in 2020
• Regional market-wise, North America dominated the market for telemedicine and accounted for the largest revenue share of 34.4% in 2020 owing to high demand in the recent past followed by Europe
• COVID-19 has provided a major boost to the telemedicine and is the big reason that telemedicine market is receiving such great demands form all around

Cool facts and Its sources –

• According to GlobalMed, 74% of millennials prefer telehealth visits to in-person doctor exams
• According to MDPI, up to 89% of patients are willing to accept telemedicine as a sufficient form of medical care
• MDPI also states that, 85% of patients who receive telemedicine services are satisfied with their medical care
• On the basis of data from McKinsey, 82% of consumers view digital options as the best way to monitor health

Some Major Market Players –

• MDlive Inc.
• SteadyMD Inc.
• Maven, Inc.
• iCliniq
• HealthTap, Inc.
• BioTelemetry, Inc.
• American Well
• CVS Health
• Synapse Medicine
• Practo
• Teladoc Health, Inc.
• Doctor On Demand, Inc.
• AMD Global Telemedicine
• Aerotel Medical Systems (1998) Ltd.
• Plantronics, Inc. (Polycom)

To have a further understanding about the market, you can visit the official website of Grand View Research, Inc.