Technavio has been monitoring the telemedicine market and it is poised to grow by USD 56.47 billion during 2020-2024, progressing at a CAGR of almost 19% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Telemedicine Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
What was the value of the telemedicine market in 2019?
Technavio says that the value of the market was USD 41.90 billion in 2019 and is projected to reach USD 98.37 billion by 2024.
At what rate is the market projected to grow during the forecast period 2020-2024?
Growing at a CAGR of almost 19%, the market growth will accelerate during the forecast period.
What is the key factor driving the market?
The growing burden of chronic diseases and the integration of AI with telemedicine are the key factors driving the market growth.
Who are the top players in the market?
Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions Inc., BioTelemetry Inc., Cisco Systems Inc., General Electric Co., HP Inc., International Business Machines Corp., Koninklijke Philips NV, Medtronic Plc, and Siemens Healthineers AG are some of the major market participants.
Which region is expected to hold the highest market share?
What is the year-over-year growth rate of the global market?
The year-over-year growth rate for 2020 is estimated at 19.61%.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions Inc., BioTelemetry Inc., Cisco Systems Inc., General Electric Co., HP Inc., International Business Machines Corp., Koninklijke Philips NV, Medtronic Plc, and Siemens Healthineers AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The growing burden of chronic diseases has been instrumental in driving the growth of the market.
Telemedicine Market 2020-2024: Segmentation
Telemedicine Market is segmented as below:
Telehospital And Teleclinic
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Telemedicine Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our telemedicine market report covers the following areas:
Telemedicine Market size
Telemedicine Market trends
Telemedicine Market analysis
This study identifies the integration of AI with telemedicine as one of the prime reasons driving the telemedicine market growth during the next few years.
Telemedicine Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the telemedicine market, including some of the vendors such as Aerotel Medical Systems Ltd., Allscripts Healthcare Solutions Inc., BioTelemetry Inc., Cisco Systems Inc., General Electric Co., HP Inc., International Business Machines Corp., Koninklijke Philips NV, Medtronic Plc, and Siemens Healthineers AG. Backed with competitive intelligence and benchmarking, our research reports on the telemedicine market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Telemedicine Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist telemedicine market growth during the next five years
Estimation of the telemedicine market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the telemedicine market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of telemedicine market vendors
Table of Contents:
Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five Forces Summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Product
Comparison by Product placement
Services - Market size and forecast 2019-2024
Solutions - Market size and forecast 2019-2024
Market opportunity by Product
Market Segmentation by Application
Comparison by Application placement
Telehospital and teleclinic - Market size and forecast 2019-2024
Telehome - Market size and forecast 2019-2024
Market opportunity by Application
North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
Asia - Market size and forecast 2019-2024
ROW - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Drivers, Challenges, and Trends
Volume driver - Demand led growth
Volume driver - Supply led growth
Volume driver - External factors
Volume driver - Demand shift in adjacent markets
Price driver - Inflation
Price driver - Shift from lower to higher-priced units
Market positioning of vendors
Aerotel Medical Systems Ltd.
Allscripts Healthcare Solutions Inc.
Cisco Systems Inc.
General Electric Co.
International Business Machines Corp.
Koninklijke Philips NV
Siemens Healthineers AG
Scope of the report
Currency conversion rates for US$
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200805005530/en/