Telemedicine Market

Telemedicine Market Size by Type (Services, Products), Application (Telepsychiatry, Telepathology, Teleradiology, Teledermatology, Telecardiology, Others), Modality, End-Use, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12486
  • Published Date: Oct, 2021
  • Pages: 247
  • Category: Healthcare
  • Format: PDF
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The global telemedicine market is expected to reach USD 184.50 billion by 2028, at a CAGR of 20.77% from 2021 to 2028.The global telemedicine market is witnessing a considerable growth owing to rising disease incidences and rising need for self-care.

Market Overview:

Telemedicine is the sharing of medical information via electronic communication from one place to another, which enhances patient health status.Telemedicine has numerous applications that can be used for various systems like smartphones, wireless devices, two-way video, and many forms of telecommunication technology. This helps health care professionals to leverage telecommunications technologies to assess, diagnose, and treat patients in remote places. Telemedicine allows patients to access medical expertise easily, conveniently and without traveling to distant areas. Telemedicine makes more effective usage of limited specialist services and can help them see patients anywhere they are required in many ways without leaving their home. In developing and developed countries, telemedicine provides a reduced cost solution to delivering remote care when and where it is needed without the building and staffing added facilities. It also reduces the isolation that clinicians can experience in small medical facilities in distant locations. It allows local practitioners to consult with their peers and with clinical experts when needed. Moreover, telemedicine will enable them to participate in grand rounds and education opportunities they would not usually have access to without travel and time away from their patients.

Telemedicine is not considered a separate specialty of medicine. Telemedicine goods and facilities are part of Healthcare systems ' larger investment, either through their method of delivering healthcare, or through their information technologies. Telemedicine is strongly related to health information technology (HIT). In general, HIT often applies to electronic medical records and associated health information systems, but with the use of technology, telemedicine refers to the distribution method of specific clinical services.

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Market Dynamics:

Drivers:
  • Different telemedicine applications will boost the demand in the healthcare field Telemedicine has paved into various industries within the healthcare industry. It is seen for use in radiology, behavioral wellbeing, cardiology, among others. This surging use in various applications has further stoked novel business models for telemedicine within the healthcare industry. Moreover, the market will gain pace in response to the rising geriatric population and better accessibility to advanced healthcare across the world. Due to these factors, the adoption of telemedicine is increasing.
  • The gradual move to virtual consultation

It is now evident that virtual consultation is the most efficient way of communication between patient and doctor. It saves time and improves clinical results. As a consequence, an increasing demand for virtual consulting has, in effect, increased the amount of virtual consultations globally. Moreover, increasing reimbursement for telemedicine health facilities, advancement in virtual consultation mobiles apps, and developments, transmission and integration of Electronic Health Records (EHRs) is projected to drive the telemedicine market growth. In 2020, InTouch Health declared the introduction of Solo, a completely integrated end-to-end virtual care platform that suits every kind of user in every healthcare environment. These releases are expected to boost the market growth.

Restraints:
  • Equipment and professional training

It takes time and resources to restructure the staff responsibilities and to buy equipment. Training is crucial for the development of a successful telemedicine program. Practice managers, physicians and other medical professionals need to be trained on the latest technologies to ensure reliable ROI. This factor may hinder the telemedicine market growth.

Opportunities:
  • Growing advancements in the healthcare industry

The introduction of innovations such as machine learning, IOT and artificial intelligence would give the industry tremendous opportunities. Induction of seamless communication technologies is also a significant driver that will fuel global telemedicine demand growth over the projected period. In addition, the initiatives to offer healthcare services in rural areas are also a major factor driving the global telemedicine market over the projected period.

Challenges:
  • Fewer in-person consultations

Many patients and providers still want a personal touch and not all treatments, even quick check-ups–can be performed digitally. Yet telemedicine may be a useful option in situations where people actually cannot get to meet their physicians in person, and in certain instances where they do not require a physical test. But, this also acts as a major challenge for the telemedicine market.

Segmentation Analysis:

The global telemedicine market has been segmented based on type, application, modality, end-user and regions.

  • The type segment is divided into services and products. The services segment led the telemedicine market with a market share of around 72% in 2020.This is attributed to the increasing proliferation of communication devices in real time, beneficial teleconsultation health reimbursement and the entrance of emerging service providers. Telemedicine products are projected to be in demand in the coming years.Such products help to test and treat successfully patients residing in rural regions utilizing telecommunications technology.
  • The application segment includes teledermatology, teleradiology, telepathology, telecardiology, telepsychiatryand others. Teleradiology segment is projected to grow at the highest CAGR of 23.5% over the forecast period due to the fast implementation of the Picture Archiving and Communication System (PACS) in the world of healthcare.This also facilitates easy radiology picture transmission and incorporation with the Electronic Health Records (EHR). It aims to meet the demand for and supply of multiple diagnostic services. The need for such services is anticipated to augment as chronic ailments including orthopedic disorders are growing in prevalence.
  • The modality segment includesreal-time (synchronous), store-and-forward (asynchronous) and others.  The store-and-forward or asynchronous method is anticipated to register a CAGR of around 22% in the telemedicine market over the forecast period. Asynchronous or store-and-forward strategy lets healthcare practitioners exchange relevant patient knowledge with a specialist, such as reports from the hospital and images.This approach is more transparent and accessible as patients, healthcare professionals, and experts may check the diagnostic records while seated in remote or diverse places.
  • The end-user segment is divided into homecare and healthcare facilities. In the forecast years, need for telemedicine is projected to rise across health care and homecare services, thereby boosting the size of telemedicine market. Due to the rising geriatric population, home care is expected to achieve enormous popularity within telemedicine industry. For example, Lutheran Senior Life's MobileCare App, will remotely monitor the health status of patients. It is expected that these product advances will push the segment growth and ultimately accelerate the market growth.
Regional Segmentation Analysis:

The regions evaluated for the telemedicine market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.The North America region emerged as the largest market for the telemedicine market, with a 39.6% share of the market revenue in 2020.

  • This is because the health-care sector is rising enormously in North America. The North America region has been the center for the global technology growth and transformation. Because of the involvement of many technological and pharmaceutical players in countries such as Canada and the USA, North America is expected to lead the global telemedicine market over the forecast period.  
  • The European regional market is estimated to register the highest growth during the forecast periodowing to technical developments in telecommunications technologies and growing support for startups. In addition, rapid socio-economic shifts and growing internet use are further anticipated to encourage business growth in the region.

The North America Telemedicine Market Share in 2020 - 39.6%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global telemedicine industry.

In April 2019, Comcast collaborated with Independence Health System for the launch of a new platform for patient care and communication.

List of key market players:

  • 2nd.MD
  • Aerotel Medical Systems Ltd.
  • Allscripts Healthcare Solutions, Inc
  • AMD Global
  • American Well
  • Cardiocom, LLC
  • CISCO Systems
  • Doctor On Demand, Inc.
  • Encounter Telemedicine
  • F. Hoffmann-La Roche Ltd
  • GlobalMed
  • Honeywell HomMed
  • InTouch Technologies, Inc.
  • McKesson Corporation
  • MDLIVE Inc.
  • MeMD
  • SnapMD, Inc.
  • Teladoc Health, Inc.
  • Telemedicine, Inc.

Key Target Audience

  • Healthcare Institute
  • Drug Manufacture
  • Pharmaceutical Companies
  • Government Authorities and R&D Institutions
  • World Health Organization
  • Food and Drug Administration
  • Consulting And Research Firm

Report Description

  • Global Telemedicine Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global telemedicine market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Telemedicine market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of telemedicine and regions which are deduced and formulatedon the basis of theirgrowth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathommarket growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global telemedicine market. This offersvital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global Telemedicinemarket and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global telemedicine market) is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per the brainy insights, the size of the telemedicine market was valued at USD 40.57 billion in 2020 and is anticipated to reach USD 184.50 billion by 2028.

Global telemedicine market is growing at a CAGR of 20.77% during the forecast period 2021-2028.

The global telemedicine market has been segmented based on type, application, modality, end-user and regions. The services segment led the telemedicine market. The teleradiology segment is estimated to grow at the highest CAGR.

The North America region emerged as the largest market for the telemedicine.

Rising demand for advanced healthcare industry is the key driving factor for the telemedicine market.

Technical training and equipment may hamper the market growth.

Incorporation of technologies such as IOT, machine learning and artificial intelligence will provide huge opportunities to the market.

Key players are EAerotel Medical Systems Ltd., Allscripts Healthcare Solutions, Inc, CISCO Systems, InTouch Technologies, Inc.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Modality
          4.3.4. Market Attractiveness Analysis By End-User
          4.3.5. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Diverse Applications of Telemedicine Will Boost Its Demand in the Healthcare Industry
          5.2.2. Gradual Shift Towards Virtual Consultation
    5.3. Restrains
          5.3.1. Technical Training and Equipment
    5.4. Opportunities
          5.4.1. Growing developments in healthcare industry
    5.5. Challenges
          5.5.1. Fewer In-Person Consultations

6. Global Telemedicine Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Products
    6.3. Services

7. Global Telemedicine Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Teleradiology
    7.3. Telepathology
    7.4. Teledermatology
    7.5. Telepsychiatry
    7.6. Telecardiology
    7.7. Others

8. Global Telemedicine MarketAnalysis and Forecast, By Modality
    8.1. Segment Overview
    8.2. Store-and-forward (Asynchronous)
    8.3. Real-time (Synchronous)
    8.4. Others

9. Global Telemedicine MarketAnalysis and Forecast, By End-User
    9.1. Segment Overview
    9.2. Healthcare facilities
    9.3. Homecare

10. Global Telemedicine MarketAnalysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Telemedicine Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Telemedicine Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. 2nd.MD
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Component Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Aerotel Medical Systems Ltd.
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Component Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Allscripts Healthcare Solutions, Inc.
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Component Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. AMD Global
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Component Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. American Well
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Component Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. Cardiocom, LLC
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Component Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. CISCO Systems
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Component Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Doctor On Demand, Inc.
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Component Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Encounter Telemedicine
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Component Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. F. Hoffmann-La Roche Ltd
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Component Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
    12.11. GlobalMed
          12.11.1. Business Overview
          12.11.2. Company Snapshot
          12.11.3. Company Market Share Analysis
          12.11.4. Company Component Portfolio
          12.11.5. Recent Developments
          12.11.6. SWOT Analysis
    12.12. Honeywell HomMed
          12.12.1. Business Overview
          12.12.2. Company Snapshot
          12.12.3. Company Market Share Analysis
          12.12.4. Company Component Portfolio
          12.12.5. Recent Developments
          12.12.6. SWOT Analysis
    12.13. InTouch Technologies, Inc.
          12.13.1. Business Overview
          12.13.2. Company Snapshot
          12.13.3. Company Market Share Analysis
          12.13.4. Company Component Portfolio
          12.13.5. Recent Developments
          12.13.6. SWOT Analysis
    12.14. McKesson Corporation
          12.14.1. Business Overview
          12.14.2. Company Snapshot
          12.14.3. Company Market Share Analysis
          12.14.4. Company Component Portfolio
          12.14.5. Recent Developments
          12.14.6. SWOT Analysis
    12.15. MDLIVE Inc.
          12.15.1. Business Overview
          12.15.2. Company Snapshot
          12.15.3. Company Market Share Analysis
          12.15.4. Company Component Portfolio
          12.15.5. Recent Developments
          12.15.6. SWOT Analysis
    12.16. MeMD
          12.16.1. Business Overview
          12.16.2. Company Snapshot
          12.16.3. Company Market Share Analysis
          12.16.4. Company Component Portfolio
          12.16.5. Recent Developments
          12.16.6. SWOT Analysis
    12.17. SnapMD, Inc.
          12.17.1. Business Overview
          12.17.2. Company Snapshot
          12.17.3. Company Market Share Analysis
          12.17.4. Company Component Portfolio
          12.17.5. Recent Developments
          12.17.6. SWOT Analysis
    12.18. Teladoc Health, Inc.
          12.18.1. Business Overview
          12.18.2. Company Snapshot
          12.18.3. Company Market Share Analysis
          12.18.4. Company Component Portfolio
          12.18.5. Recent Developments
          12.18.6. SWOT Analysis
    12.19. Telemedicine, Inc.
          12.19.1. Business Overview
          12.19.2. Company Snapshot
          12.19.3. Company Market Share Analysis
          12.19.4. Company Component Portfolio
          12.19.5. Recent Developments
          12.19.6. SWOT Analysis

List of Table

1. Global Telemedicine Market, By Type, 2018–2028(USD Billion)

2. Global Products Telemedicine Market, By Region, 2018–2028(USD Billion)

3. Global Services Telemedicine Market, By Region, 2018–2028(USD Billion)

4. Global Telemedicine Market, By Application, 2018–2028(USD Billion)

5. Global Teleradiology Telemedicine Market, By Region, 2018–2028(USD Billion)

6. Global Telepathology Telemedicine Market, By Region, 2018–2028(USD Billion)

7. Global Teledermatology Telemedicine Market, By Region, 2018–2028(USD Billion)

8. Global Telepsychiatry Telemedicine Market, By Region, 2018–2028(USD Billion)

9. Global Telecardiology  Teledermatology Telemedicine Market, By Region, 2018–2028(USD Billion)

10. Global Others Telemedicine Market, By Region, 2018–2028(USD Billion)

11. Global Telemedicine Market, By Modality, 2018–2028(USD Billion)

12. Global Store-and-forward (Asynchronous)Telemedicine Market, By Region, 2018–2028(USD Billion)

13. Global Real-time (Synchronous)Telemedicine Market, By Region, 2018–2028(USD Billion)

14. Global Others Telemedicine Market, By Region, 2018–2028(USD Billion)

15. Global Telemedicine Market, By End-User, 2018–2028(USD Billion)

16. Global Healthcare facilities Telemedicine Market, By Region, 2018–2028(USD Billion)

17. Global Homecare Telemedicine Market, By Region, 2018–2028(USD Billion)

18. Global Telemedicine Market, By Region, 2018–2028(USD Billion)

19. Global Telemedicine Market, By North America, 2018–2028(USD Billion)

20. North America Telemedicine Market, By Type, 2018–2028(USD Billion)

21. North America Telemedicine Market, By Application, 2018–2028(USD Billion)

22. North America Telemedicine Market, By Modality, 2018–2028(USD Billion)

23. North America Telemedicine Market, By End-User, 2018–2028(USD Billion)

24. U.S. Telemedicine Market, By Type, 2018–2028(USD Billion)

25. U.S. Telemedicine Market, By Application, 2018–2028(USD Billion)

26. U.S. Telemedicine Market, By Modality, 2018–2028(USD Billion)

27. U.S. Telemedicine Market, By End-User, 2018–2028(USD Billion)

28. Canada Telemedicine Market, By Type, 2018–2028(USD Billion)

29. Canada Telemedicine Market, By Application, 2018–2028(USD Billion)

30. Canada Telemedicine Market, By Modality, 2018–2028(USD Billion)

31. Canada Telemedicine Market, By End-User, 2018–2028(USD Billion)

32. Mexico Telemedicine Market, By Type, 2018–2028(USD Billion)

33. Mexico Telemedicine Market, By Application, 2018–2028(USD Billion)

34. Mexico Telemedicine Market, By Modality, 2018–2028(USD Billion)

35. Mexico Telemedicine Market, By End-User, 2018–2028(USD Billion)

36. Europe Telemedicine Market, By Type, 2018–2028(USD Billion)

37. Europe Telemedicine Market, By Application, 2018–2028(USD Billion)

38. Europe Telemedicine Market, By Modality, 2018–2028(USD Billion)

39. Europe Telemedicine Market, By End-User, 2018–2028(USD Billion)

40. Germany Telemedicine Market, By Type, 2018–2028(USD Billion)

41. Germany Telemedicine Market, By Application, 2018–2028(USD Billion)

42. Germany Telemedicine Market, By Modality, 2018–2028(USD Billion)

43. Germany Telemedicine Market, By End-User, 2018–2028(USD Billion)

44. France Telemedicine Market, By Type, 2018–2028(USD Billion)

45. France Telemedicine Market, By Application, 2018–2028(USD Billion)

46. France Telemedicine Market, By Modality, 2018–2028(USD Billion)

47. France Telemedicine Market, By End-User, 2018–2028(USD Billion)

48. U.K. Telemedicine Market, By Type, 2018–2028(USD Billion)

49. U.K. Telemedicine Market, By Application, 2018–2028(USD Billion)

50. U.K. Telemedicine Market, By Modality, 2018–2028(USD Billion)

51. U.K. Telemedicine Market, By End-User, 2018–2028(USD Billion)

52. Italy Telemedicine Market, By Type, 2018–2028(USD Billion)

53. Italy Telemedicine Market, By Application, 2018–2028(USD Billion)

54. Italy Telemedicine Market, By Modality, 2018–2028(USD Billion)

55. Italy Telemedicine Market, By End-User, 2018–2028(USD Billion)

56. Spain Telemedicine Market, By Type, 2018–2028(USD Billion)

57. Spain Telemedicine Market, By Application, 2018–2028(USD Billion)

58. Spain Telemedicine Market, By Modality, 2018–2028(USD Billion)

59. Spain Telemedicine Market, By End-User, 2018–2028(USD Billion)

60. Asia Pacific Telemedicine Market, By Type, 2018–2028(USD Billion)

61. Asia Pacific Telemedicine Market, By Application, 2018–2028(USD Billion)

62. Asia Pacific Telemedicine Market, By Modality, 2018–2028(USD Billion)

63. Asia Pacific Telemedicine Market, By End-User, 2018–2028(USD Billion)

64. Japan Telemedicine Market, By Type, 2018–2028(USD Billion)

65. Japan Telemedicine Market, By Application, 2018–2028(USD Billion)

66. Japan Telemedicine Market, By Modality, 2018–2028(USD Billion)

67. Japan Telemedicine Market, By End-User, 2018–2028(USD Billion)

68. China Telemedicine Market, By Type, 2018–2028(USD Billion)

69. China Telemedicine Market, By Application, 2018–2028(USD Billion)

70. China Telemedicine Market, By Modality, 2018–2028(USD Billion)

71. China Telemedicine Market, By End-User, 2018–2028(USD Billion)

72. India Telemedicine Market, By Type, 2018–2028(USD Billion)

73. India Telemedicine Market, By Application, 2018–2028(USD Billion)

74. India Telemedicine Market, By Modality, 2018–2028(USD Billion)

75. India Telemedicine Market, By End-User, 2018–2028(USD Billion)

76. South America Telemedicine Market, By Type, 2018–2028(USD Billion)

77. South America Telemedicine Market, By Application, 2018–2028(USD Billion)

78. South America Telemedicine Market, By Modality, 2018–2028(USD Billion)

79. South America Telemedicine Market, By End-User, 2018–2028(USD Billion)

80. Brazil Telemedicine Market, By Type, 2018–2028(USD Billion)

81. Brazil Telemedicine Market, By Application, 2018–2028(USD Billion)

82. Brazil Telemedicine Market, By Modality, 2018–2028(USD Billion)

83. Brazil Telemedicine Market, By End-User, 2018–2028(USD Billion)

84. Middle East and Africa Telemedicine Market, By Type, 2018–2028(USD Billion)

85. Middle East and Africa Telemedicine Market, By Application, 2018–2028(USD Billion)

86. Middle East and Africa Telemedicine Market, By Modality, 2018–2028(USD Billion)

87. Middle East and Africa Telemedicine Market, By End-User, 2018–2028(USD Billion)

88. UAE Telemedicine Market, By Type, 2018–2028(USD Billion)

89. UAE Telemedicine Market, By Application, 2018–2028(USD Billion)

90. UAE Telemedicine Market, By Modality, 2018–2028(USD Billion)

91. UAE Telemedicine Market, By End-User, 2018–2028(USD Billion)

92. South Africa Telemedicine Market, By Type, 2018–2028(USD Billion)

93. South Africa Telemedicine Market, By Application, 2018–2028(USD Billion)

94. South Africa Telemedicine Market, By Modality, 2018–2028(USD Billion)

95. South Africa Telemedicine Market, By End-User, 2018–2028(USD Billion)

List of Figures 

1. Global Telemedicine Market Segmentation

2. Telemedicine Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Telemedicine Market Attractiveness Analysis By Type

9. Global Telemedicine Market Attractiveness Analysis By Application

10. Global Telemedicine Market Attractiveness Analysis By Modality

11. Global Telemedicine Market Attractiveness Analysis By End-User

12. Global Telemedicine Market Attractiveness Analysis By Region

13. Global Telemedicine Market: Dynamics

14. Global Telemedicine Market Share by Type (2021 & 2028)

15. Global Telemedicine Market Share by Application (2021 & 2028)

16. Global Telemedicine Market Share by Modality(2021 & 2028)

17. Global Telemedicine Market Share by End-User(2021 & 2028)

18. Global Telemedicine Market Share by Regions (2021 & 2028)

19. Global Telemedicine Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global telemedicinemarket on the basis of below mentioned segments:

Global Telemedicine Market by Type:

  • Products
  • Services

Global Telemedicine Market by Application:

  • Teleradiology
  • Telepathology
  • Teledermatology
  • Telepsychiatry
  • Telecardiology
  • Others

Global Telemedicine Market by Modality:

  • Store-and-forward (Asynchronous)
  • Real-time (Synchronous)
  • Others

Global Telemedicine Market by End-User:

  • Healthcare facilities
  • Homecare

Global Telemedicine Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa         
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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