According to a new report by Reports and Data, the global Video Telemedicine market is forecast to reach USD 565.81 billion by 2030. Video Telemedicine is experiencing prospective opportunities in the field as rising adoption of IT in healthcare domain, rising geriatric population, increasing prevalence of target diseases and majorly the advantage of maximum reach in case of different medical crisis such as pandemic outbreak of COVID-19 or untapped target of population (rural areas or bedridden patients). Geriatric population is rapidly rising across the globe, and Europe and North America have the highest share of population with age of over sixty-five years and above.
Video Telemedicine is emerging as crucial part of pandemic hit world, to remotely address many common medical conditions that are reflected among the old population such as Parkinson’s, diabetes, cardiovascular diseases, high blood pressure, and high cholesterol, arthritis and many more. According to the United Nations, in 2050, geriatric population are expected to account for 35% of the population in Europe, 28% in Northern America, 25% in Latin America and the Caribbean, 24% in Asia, 23% in Oceania and 9% in Africa. Traveling to hospitals for visits and unfamiliar environment of hospitals leads to non-compliance of patients to follow ups. Thus, tele-visits and Video Telemedicine help in such situation to provide services remotely at their familiar environment.
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Further key findings from the report suggest
- To avoid the obstruction due to lack of usage knowledge of physicians or healthcare providers market players are developing reference guidelines to boost the adoption of technology. For instance, the American Medical Association (AMA) has launched the AMA Video Telemedicine Quick Reference Guide, aimed at helping clinicians figure out best practices for implementing the tech. The guidelines cover everything from policy and coding to implementation
- In April 2020, DrChrono launched fully integrated Video Telemedicine app marketplace for patients. Over 10,000 medical providers on the DrChrono platform have access to more telehealth options and receive more inbound requests to provide virtual care visits to patients, especially during COVID-19
- Towards broadening the clientele field players are engaged in developing Video Telemedicine solution for different users with personalized plans. For instance, in January 2020, Cigna an insurer from the U.S. in partnership with MDLive has launched a telehealth platform that gives its 12 million members in employee-sponsored health plans access to primary care services
- North America dominated the ovulation testing at home with a revenue of USD 17.63 billion in 2019. In North America, rising prevalence of target diseases, growing adoption of advanced technologies, high investment on IT in healthcare solutions are major factors driving market growth.
- The segment of software type has accounted for the highest market share in 2019. Broadly adoption of Video Telemedicine and digital platform in healthcare and several software developments by key players are major factors booming the market growth of Video Telemedicine software
- Based on end use diagnostic centers are estimated to grow at the CAGR 15.5%. Imaging being the primary procedure in overall healthcare management and significant growth of teleradiology are the major factors promoting Video Telemedicine market growth in diagnostic centers
Table of Contents (ToC) – Global Video Telemedicine Market
Chapter 1. Methodology Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Global Pharma Healthcare Market Segmentation
4.1. Global Pharma Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter’s Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
Top Companies Profiled in the Report:
MDLIVE, Teladoc, SteadyMD, Doctor on Demand, Maven Clinic, AMD Video Telemedicine, Aerotel Medical Systems Ltd., iCliniq, Polycom, HealthTap, Cardio Net Inc., Amwell, CVS Health, Synapse Medicine, Practo.
End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals and Healthcare Facilities
- Homecare
- mHealth
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Teleradiology
- Telepathology
- Teledermatology
- Telecardiology
- Telepsychiatry
- Others
Mode of Delivery Outlook (Revenue, USD Billion; 2019-2030)
- Cloud-based
- On-Premise
Key Regional Markets Covered in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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