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The Business Research Company’s Global Telemedicine Market

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According to The Business Research Company’s research report on Telemedicine Services Market, the market is expected to be positively impacted by the COVID-19 situation. Telehealth services have proven to be an essential tool in fighting the pandemic, thereby driving market demand. For example, in March 2020, the US government announced its decision to expand telemedicine options in the country, allowing citizens of the country to opt for telemedicine options – i.e. to see a doctor or a healthcare professional – by phone or video chat at no additional cost. Cost.

The global telemedicine services market is supported by a large consumer population in both developed and developing countries, growing awareness of telemedicine services usage, and high healthcare expenditures. North America and Europe are well-established and mature markets where there is a well-established system for healthcare including the use of telemedicine services and where the leading companies of the market are located. Developing regions such as Asia Pacific, Middle East and Africa are fast growing markets. NOTNorth America holds the largest telemedicine market share, accounting for 43.9%.

The commercial research companyit is report titled Telemedicine Services Market – Opportunities and Strategies – Global Forecast to 2030 Covers top Telemedicine Service companies, Telemedicine Service market share by company, Telemedicine Service manufacturers, Telemedicine Service Infrastructure market size and Telemedicine Service market forecast. The report also covers the global telemedicine services market and its segments.

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The global telemedicine services market has reached a value of almost $49.89 billion in 2019, growing at a compound annual growth rate (CAGR) of 22.5% since 2015. The market is expected to grow from $49.89 billion in 2019 to $194.05 billion in 2023 at a rate of 40.4%. The growth is mainly due to increased demand for telemedicine services during the pandemic and government initiatives. The size of the telemedicine market is then expected to reach $277.93 billion in 2025 at a CAGR of 19.7% and reach $459.80 billion in 2030 with a CAGR of 10.6%. Going forward, aging population, increasing access to healthcare, growing prevalence of chronic diseases, and rising demand for telemedicine services due to COVID-19 are expected to drive the market.

One of the latest trends in the telemedicine market is the integration and implementation of 5G. Due to the unexpected outbreak of the COVID-19 pandemic, healthcare delivery was forced to change overnight. During these times, the use of 5G in telemedicine guarantees better data reliability on three major fronts: speed, latency and connectivity. Velocity not only refers to how fast data can move, but also how much data can move quickly at one time.

Essentially, with the use of 5G, a three-lane highway is converted into a fifteen-lane freeway, ensuring that huge amounts of data are moved quickly between connected devices to the required destination. Latency refers to how quickly a given signal can travel to and from the tower. For virtual reality (VR) and augmented reality (AR) to work effectively, latency should be as close to zero as possible. For telemedicine to reach the next level, it will require VR and AR, in this way, 5G also extends the applications to VR and AR in telemedicine. In terms of connectivity, 5G expands the upper limit of hotspots or the number of people who can connect at any given time from tens of thousands to millions.

With 5G connection technology, hospitals and medical practices are no longer the only point of care, this technology ensures that patients have access to healthcare wherever they are. For example, according to a recent Accenture study from 2019, 82% of healthcare executives agree that 5G will revolutionize their industry by enabling new ways to deliver products and services.

Telemedicine Services Market – Opportunities and Strategies – Global Forecast to 2030 is part of a series of new reports from The commercial research company which provide market overviews, analyze and forecast Telemedicine market size and growth for overall market, Telemedicine market segments and Telemedicine market geographies, Telemedicine market trends Telemedicine, Telemedicine Market Drivers, Telemedicine Market Restraints, Revenues, Profiles and Market Shares of top Telemedicine Market Competitors in 1000+ industry reports, covering more than 2,500 market segments and 60 geographical areas.

The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.

Here is a list of similar reports from the trade research company:

Telemedicine Technology Market – By Type (Tele-home and Tele-hospital), By Applications (Tele-radiology, Tele-consultation, Tele-monitoring and Tele-surgery), and By Region, Opportunities and Strategies – Global Forecast up to in 2022

Healthcare Services Market – By Type (Hospitals & Clinics, Physicians, Nursing, Dental Services, Laboratory Services, Ambulance Services and Others), By End User Gender and Region, Opportunities and Strategies – Global Forecast until 2022

IoT Enabled Healthcare Equipment Market – By Type (Diagnostic Equipment, Implanted Devices, Wearable Devices), By Country, By Company Profiles & Region, Opportunities & Strategies – Global Forecast to 2030

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