Telemedicine Market Will Grow at a Steady Rate of 18.3% CAGR from 2014 to 2025: Grand View Research, Inc.
The global telemedicine market is expected to reach USD 113.1
billion by 2025, according to a new report by Grand View Research, Inc. Key
drivers of the market include increasing incidences of chronic conditions and
rising demand for self-care. Furthermore, enhancing application of internet,
virtual medicine and rising demand for centralization of healthcare are
expected to save on cost incurred, which is one of the critical success factors
attributing for the growth of telemedicine market.
Virtual medicine is benefiting in
reducing the emergency room visits and hospitalization rate, thereby augmenting
the market growth. The telemedicine market is segmented on the basis of
products, and region. The service offers prime channel for various providers to
communicate on the same platform and thus, centralize all the available data.
Telemedicine products are
distributed by direct supply contract amongst the manufacturers and end users
or maybe concluded via a third party supplier. Government initiated healthcare
programs across the nation are anticipated to propel the direct agreement
method by conducting private bidding and voluntarily sponsorship by market
players.
Browse full research report on Telemedicine Market:
Further key findings from the report suggest:
- Connectivity
& network is anticipated to be the fastest growing product segment of
this market over the forecast period.
- Increasing
demand of automation and synchronization across the system is anticipated
to be the vital drive for the market growth.
- North
America, being a pioneer in IT technologies, dominated the global
telemedicine market. Available advanced organization with plenty funds
contributed to its domination.
- Asia Pacific
is predicted to witness lucrative growth over the forecast period.
Economic reforms, boosting IT industry, and low functioning costs are the
key factors attracting market players to participate in this region.
- Some of the
key players in this space include IBM, Intel Corporation, Philips
Healthcare, McKesson Corporation, AMD Telemedicine, GE Healthcare, and
Cardio Net Inc.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-telemedicine-industry
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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