Global Telemedicine Market Trends, Size, Competitive Analysis and Forecast 2021-2027

 The global telemedicine market is anticipated to grow significantly at a CAGR of 20.2% during the forecast period (2021-2027). The key companies across the globe are adopting different business strategies including expanding their technological advancements, geographic presence, R&D activities, new product approvals, mergers & acquisitions, partnerships, and collaborations to increase market share. Among these, the advancements in technology have led to a boost in the demand for online consultation, thereby contributing to the market growth of telemedicine solutions and services during the forecast period. For instance, in April 2020, American Well launched Amwell Private Practice that is a secure, simple, and cost-effective solution for doctors to deliver virtual primary or specialty care for COVID-19 patients. 

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Further, in December 2020, Royal Philips, a global leader in health technology, and BioTelemetry, Inc., a supplier of remote cardiac diagnostics and monitoring based in the US, have announced that they have reached an agreement to merge. The indicated enterprise value, including BioTelemetry's cash and debt, is $ 2.8 billion (around EUR 2.3 billion). In October 2020, UAB Medicine, a nationally recognized leader in patient care, research, and training, and Advanced ICU Care, a provider of high-acuity telemedicine services, have announced a large strategic telemedicine partnership with the technology. The partnership covers the entire UAB Health System, including the University of Alabama at Birmingham Hospital, the country's third-largest public hospital facility. The partnership began with the construction of a new tele-ICU operations centre in Birmingham, to serve up to 750 ICU beds throughout Alabama and the surrounding states.

In July 2020, Advanced ICU Care, the nation's premier high-acuity telemedicine provider, recently announced the beginning of tele-ICU services with Salem Regional Medical Center (SRMC) in Salem, Ohio. Advanced ICU Care's sophisticated technology-enabled care services will equip the hospital's bedside staff with clinical knowledge 24 hours a day, 7 days a week, 365 days a year, allowing them to give patients the gold standard of critical care. However, the rapid technological advancements and key initiatives by the major players are the factors driving the market growth. Apart from it, there has been a significant rise in telemental health visits during the COVID-19 pandemic, and the trend is expected to continue during the forecast period, thereby contributing to the adoption of telemedicine systems by hospitals and healthcare settings.

 Market Coverage

·         The market number available for – 2020-2027

·         Base year- 2020

·         Forecast period- 2021-2027

·         Segment Covered- 

·         By Components

·         By Applications

·         By Mode of Delivery

·         Regions Covered-

·         North America

·         Europe

·         Asia-Pacific

·         Rest of the World

·         Competitive Landscape- AMD Global Telemedicine Inc., American Well Corp., CareClix Inc., Doctor on Demand Inc., MDlive Inc., Koninklijke Philips N.V, SnapMD, Inc., TeleVital Solutions, USARAD Holdings Inc., and Vitaphone GmbH, among others.

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A full Report of Global Telemedicine Market is Available at:  https://www.omrglobal.com/industry-reports/telemedicine-market

Global Telemedicine Market Report Segment

By Components

·         Hardware

·         Software & Services

By Application

·         Teleradiology

·         Telepsychiatry

·         Telepathology

·         Teledermatology

·         Telecardiology

By Mode of Delivery

·         On-Premise 

·         Cloud-Based 

Global Telemedicine Market Report Segment by Region

North America

·         United States

·         Canada

Europe

·         UK

·         Germany

·         Spain

·         France

·         Italy

·         Rest of Europe

Asia-Pacific

·                     India

·                     China

·                     Japan

·                     South Korea

·                     Rest of APAC

Rest of the World

·                     Latin America 

·                     Middle East & Africa

Company Profiles 

·         Advanced ICU Care (Hicuity Health)

·         AMD Global Telemedicine Inc.

·         American Well Corp.

·         Aurora Information Technology, Inc. dba CloudVisit

·         CareClix, Inc.

·         Doctor On Demand, Inc.

·         Ergotron, Inc.

·         HealthTap, Inc.

·         InstaMD, Inc.

·         Koninklijke Philips N.V

·         MDlive Inc.

·         Maestros Mediline Systems Ltd.

·         Plantronics, Inc. (Polycom)

·         REACH Healthcare Foundation

·         SnapMD, Inc.

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2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:

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