The global Telemedicine Market Growth Accelerated by Expanding Telecommunication Infrastructure


 Telemedicine enables remote diagnosis and consultation of patients using telecommunication technologies such as videoconferencing. It helps in addressing a wide range of health problems without physical visits to physicians. Telemedicine provides fast and cost-effective medical services to rural areas lacking proper healthcare facilities. The expanding telecommunication infrastructure in developing nations is increasing the outreach of telehealth services.

The global Telemedicine Market is estimated to be valued at US$ 94.44 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Growth Accelerated by Expanding Telecommunication Infrastructure
The expanding telecommunication infrastructure in developing nations is playing a major role in increasing the adoption of telemedicine services. Significant investments by telecom operators in strengthening networking infrastructure, such as deployment of 5G technology and expanding broadband access in rural areas, are supporting the delivery of telehealth services. For instance, according to the data by GSMA, the network coverage increased from 65% in 2017 to 69% in 2020 in developing countries. Furthermore, COVID-19 pandemic has accelerated the use of telemedicine and highlighted the need to improve digital healthcare delivery. This is encouraging further investments to upgrade telecom infrastructure and expand telemedicine reach in developing markets worldwide.


Segment Analysis

The global telemedicine market is dominated by the hardware and software sub-segment. This is because hardware and software form the core infrastructure for providing telemedicine services. Whether it is a basic tele-consultation or an advanced tele-surgery, their execution depends heavily on hardware devices like monitors, cameras etc and platforms that enable face-to-face virtual consultation. The growing reliance on digital health solutions as well as rising usage of mobile apps for seeking healthcare advice from doctors online has further propelled the growth of this sub-segment.

Key Takeaways

The global telemedicine market is expected to witness high growth over the forecast period of 2023 to 2030. Rapid digitalization of healthcare systems combined with considerable shortage of physicians is driving more patients and providers to adopt virtual medical services. Telemedicine offers an affordable, time efficient and convenient way of addressing both minor health issues as well as managing chronic illnesses without the need for in-person visits. The global Telemedicine Market is estimated to be valued at US$ 94.44 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.

Regional analysis: North America currently dominates the global telemedicine market owing to supportive regulatory scenario, high healthcare expenditure and widespread adoption of digital technologies in the region's advanced healthcare infrastructure. However, Asia Pacific is emerging as the fastest growing regional market. Countries like India, China, Japan and South Korea are witnessing increasing government funding and initiatives to promote telemedicine as it helps expand access to quality care including in remote and underserved areas.

Key players: Key players operating in the telemedicine market are American Well (U.S.), MDLIVE Inc. (U.S), Teladoc Health Inc. (U.S.), Doctor on Demand Inc. (U.S.), MeMD (U.S.), Encounter Telehealth (U.S.), Global Med (U.S.), and SnapMD (U.S.).These players are focused on advancing virtual care through new service launches and strategic mergers and acquisitions.

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