The Telemedicine market size is estimated to be worth $396.76 billion by 2027. This market is expected to grow in popularity as more people gain access to affordable medical technology. In addition, the growth of telehealth is also attributed to the increasing prevalence of chronic diseases and the need for more efficient and affordable healthcare solutions.
Market Growth Factors:
Telemedicine has been on the rise for a few years now. There are many reasons for this, but one of the most important factors is the increasing availability of broadband internet access.
Another reason is the growing trend of health care reform. As more people become covered by insurance, they are more likely to receive medical care outside of the traditional medical system.
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Global Telemedicine Market Size in North America:
The North American market is expected to grow from $14.13 billion in 2018 to $17.90 billion by 2019. The growth in the market is attributed to the increasing prevalence of chronic diseases, increasing demand for remote health services, and the increasing adoption of telemedicine technology.
Some of the key drivers of the market in the US include the increasing prevalence of chronic diseases such as diabetes and obesity, as well as the increasing demand for medical services across the country. In addition, the increasing trend of patients preferring to receive medical services online is also expected to contribute to the growth of the market in the US.
Key Players Operating in Telemedicine Market:
• American Well (Boston, U.S.)
• MDLIVE Inc. (Sunrise, U.S)
• Teladoc Health Inc. (Purchase, U.S.)
• Doctor on Demand Inc. (San Francisco, U.S.)
• MeMD (Arizona, U.S.)
• Encounter Telehealth (Nebraska, U.S.)
• Global Med (Arizona, U.S.)
• SnapMD (California, U.S.)
• Other prominent players
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