Telemedicine Market Research Report, Trends, Analysis and Forecast to 2026

Telemedicine refers to the remote delivery of clinical care through electronic communications in order to exchange valid medical information pertaining to diagnosis, treatment and prevention of disease and injuries via information and communication technologies. Though it cannot be considered as a separate medical specialty; on the contrary, it is considered as a tool to be used by healthcare providers to bare the traditional medical practice beyond the walls of the typical medical practice. It has broaden more specialties and are able to use this approach to technology itself becomes more pervasive and affordable.

Global Telemedicine Market is accounted for $21.56 billion in 2017 and is expected to reach $93.45 billion by 2026 growing at a CAGR of 17.7% during the forecast period. Throughout healthcare industry Telemedicine system creates communication among patients & healthcare professionals maintaining convenience & commitment. Moreover, through Telemedicine medical information and images are kept confidential and safely transferred from one place to another. Recently, Saber Healthcare Group launched Telemedicine Technology to ensure that every patient has access to cutting-edge quality of care. This system is useful for the patients residing in inaccessible areas or isolated regions. Patients can receive clinical healthcare from their home without arduous travel to the hospital.

Overall, North America accounted for lion’s share of the total telemedicine market on account of high demand for technologically advanced products. It is a major market for telemedicine due to the huge awareness and acceptance of telemedicine, rising incidences of chronic and lifestyle diseases, and growing healthcare expenditure. In addition, major local companies have easy access to this market, which makes it the largest and most significant market for suppliers. This growth is attributed to improved healthcare infrastructure, increased healthcare spending, growing geriatric population, and growing prevalence of chronic and lifestyle associated diseases.

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