COVID-19 Impacts: Telemedicine Market Will Accelerate at a CAGR of Almost 19% Through 2020-2024 | Growing Burden of Chronic Diseases to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)-- 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 suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

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?
  • North America

  • 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:

  • Product
    • Services
    • Solutions
  • Application
    • Telehospital And Teleclinic
    • Telehome
  • Geographic Landscape
    • Asia
    • Europe
    • North America
    • ROW

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40924

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:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • 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 condition

Market Segmentation by Product

  • Market segments
  • 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

  • Market segments
  • Comparison by Application placement
  • Telehospital and teleclinic - Market size and forecast 2019-2024
  • Telehome - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer Landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • 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

  • Market drivers
  • 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 challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 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
  • Siemens Healthineers AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

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.

Source: Technavio Research

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