Global Telemedicine Market Size was Valued at USD 31.46 Billion in 2018 and is Expected to grow at a CAGR of 19.28% by 2025 | Valuates Reports

BANGALORE, India, Jan. 10, 2020 /PRNewswire/ -- Telemedicine electronic communications and software offers clinical services to patients without an in-person visit. In telemedicine, technology enables healthcare providers by video conferencing to treat patients using a smartphone. Its system is used for the treatment of medication, chronic condition care, and other health services. Telemedicine is used by health care systems, physician practices, and skilled nursing facilities to provide more efficient health care facilities.

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TRENDS INFLUENCING THE GLOBAL TELEMEDICINE MARKET SHARE

• Demand for better healthcare in rural areas
• Increasing growth in telecommunication
• Growing prevalence of chronic diseases in BRIC nations

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REGION WISE GLOBAL TELEMEDICINE MARKET ANALYSIS

• Due to the increasing use of the internet, North America accounts for a significant share over the forecast period, and the adoption of smart devices is the major factor that helps the telemedicine market to grow. Because of the high-speed internet access, the telemedicine industry has been growing rapidly over the past few years.
• The telemedicine market in Europe is projected to witness significant growth over the forecast period. Factors such as rising healthcare costs and increasing chronic disease prevalence are expected to drive growth in Europe's telemedicine market in the coming years.
• Asia-Pacific is capable of recording the fastest growth in the forecast period on the global telemedicine market.

GLOBAL TELEMEDICINE MARKET SEGMENT BY REGIONS/COUNTRIES

• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America

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The market is driven by the need for better healthcare in rural areas, tremendous growth in telecommunication, rising prevalence of chronic diseases in BRIC nations, and low cost of telemedicine. However, high infrastructural costs and a lack of skilled resources may restrain market growth to a certain extent. On the other hand, favorable government initiatives present a huge growth potential for telemedicine in the BRIC nations. Lack of telemedicine standards in the BRIC countries may pose a challenge to the growth of the BRIC telemedicine market.