Artificial Intelligence Improves Decision-Making in Global Telemedicine Market Booting Uptake, Says Fairfield Market Research

LONDON, Sept. 16, 2021 /PRNewswire/ -- The emergence of COVID-19 has led to an upsurge in telemedicine with patients avoiding walk-in-clinics for fear of infection. This has been observed in both developed and emerging economies. For e.g. – telemedicine consultation surged 40% in April 2020 in the U.S. alone. As per a report by the Agency for Healthcare Research and Quality, implementing telemedicine enables the provision of more effective patient care delivery. e-Care and e-ICU minimise adverse effects or symptoms from going untreated by raising safety standards and providing high-quality healthcare.

The global telemedicine market is anticipated to be worth $82.7 Bn in 2020 and grow to $152.1 Bn by 2025, recording an impressive CAGR of 19% for the period.

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Widespread Acceptance of Digital Technology a Major Driver in the Telemedicine Market

Remote patient monitoring is rife with potential in the telemedicine market with digital heart rate monitors, digital blood pressure cuffs, and automatic insulin pumps being prime examples. The willingness of patients to adopt new technology for superior care is one of the biggest drivers in the telemedicine market. In a survey by VivaLNK, 66% of patients over 40 were ready to wear a Remote Patient Monitoring (RPM) device if it resulted in fewer doctor visits.

Huge Datasets and Artificial Intelligence an Ideal Combination in the Telemedicine Market

Recently, there has been a spike in digital data generated by both patients and healthcare providers. Simultaneously, there has been a shift towards automated aggregation of patient data and universal electronic health records through information technology. The presence of large datasets combined with unprecedented developments in computational data science provides unique opportunities for actionable insights that could improve health outcomes and permit better decision-making by artificial intelligence (AI), boding well for stakeholders in the telemedicine market.