Telemedicine plays a crucial role in providing access to healthcare services, specifically in rural areas where medical services and care are not easily available due to location. An efficacy in communication between medical staff and patients is possible with the help of telemedicine along with the transmission of significant health information and medical records.
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It is vital in saving lives in case of emergencies and critical conditions. Owing to its applications in healthcare, the global telemedicine market is expected to register a considerable CAGR during the forecast period. Increasing number of government initiatives for adoption of telemedicine at a hospital and clinics and optimization of the healthcare facilities that drive the market.
Aerotel Medical Systems, GE Healthcare Ltd., AMD Telemedicine, Bosch Healthcare, Honeywell HomMed, Philips Healthcare, and McKesson Ltd. are few major manufacturers operation in the market. These manufacturers focus on the development of innovative models of telemedicine to provide efficient healthcare services.
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The global telemedicine market is segmented based on technology, service type, application, and geography.
Based on technology
Service types covered into the study are tele hospital/teleclinic and tele home. Tele hospital segment is projected to account for the highest market share, whereas tele home services are growing rapidly.
The telecardiology market is projected to grow rapidly owing to increase in prevalence of cardiac disorders.
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Initiatives by the U.S. government to support telemedicine services to increase awareness and adoption in hospitals is estimated to fuel the market growth.
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