Global Teleconsultation Market, By Type (Tele-Hospital, Tele-Home), Component (Product, Services), Application (Teleradiology, Telepsychiatry, Telepathology, Teledermatology, Telecardiology, Others), Delivery Mode (Web/Mobile, Call Centers), Technology (Store and Forward, Real Time, Others), End-Users (Healthcare Facilities, Homecare, Others) – Industry Trends and Forecast to 2029.
Teleconsultation Market Analysis and Size
Teleconsultation analyzers have been increasingly popular in recent decades as a result of major technological breakthroughs and expanding healthcare business demands. Teleconsultation focuses on the examination of internal body fluids and provides precise diagnostic information. Modern teleconsultation is built on the foundation of traditional manual laboratory tests. However, as technology has progressed, testing methods have developed, and various tests may now be performed in automated laboratories utilizing complex devices such as chemical analyzers.
Data Bridge Market Research analyses that the teleconsultation market which was USD 85 billion in 2021, would rocket up to USD 506.64 billion by 2029, and is expected to undergo a CAGR of 25% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Teleconsultation Market Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Tele-Hospital, Tele-Home), Component (Product, Services), Application (Teleradiology, Telepsychiatry, Telepathology, Teledermatology, Telecardiology, Others), Delivery Mode (Web/Mobile, Call Centers), Technology (Store and Forward, Real Time, Others), End-Users (Healthcare Facilities, Homecare, Others),
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Telemedicine Australia (Australia), Polycom (U.S.), Tracxn Technologies Limited (U.S.), Cardiocom LLC (United States), Honeywell HomMed (U.S.), IBM Corporation (U.S.), LG Corp (South Korea), McKesson Corporation (U.S.), Koninklijke Philips N.V.(Netherlands), Samsung (South Korea), A&D Company (U.S.), BIOTRONIK SE & Co KG (Germany), Debiotech SA (Switzerland)
In the health care industry, tele-consultation services refer to the provision of a virtual consultation by a health care professional to a patient via various forms of communication. Through an audio-visual communication arrangement, a patient with an illness or chronic disease contacts a healthcare professional remotely. Numerous healthcare facilities offer teleconsultation services in an effort to expand their patient base and draw in additional healthcare professionals to their network who can give virtual consultation for patient diagnosis or treatment.
Teleconsultation Market Dynamics
- Upsurge in chronic disease incidence
In the forecast period of 2022 to 2029, rising chronic disease incidence will hasten market expansion. Other factors, such as advancements in mobile and internet technology, increased pressure to improve care quality and lessen the burden on medical professionals, an increase in smartphone users, and supportive government initiatives will all contribute to the market's expansion during the aforementioned forecast period.
- Rise in demand of radiologists
Giving care to industrialised nations, radiologists put more emphasis on developing their expertise as imaging consultants, which is sometimes thought to improve patient care. Radiologists with the necessary training and expertise serve outsourcing centres well. A single radiologist often handles radiological reports and other clinical tasks. Teleradiology distinguishes between these activities and is supported by many radiologists. Thus, prices drop dramatically. This is a significant aspect that will likely accelerate the growth of teleradiology services in the next years.
On the other hand, as the need for cost-cutting in healthcare delivery grows, new opportunities will be opened up that will impact the expansion of the teleconsultation market throughout the forecast period.
Safety and privacy concerns and lack of knowledge and trust in emerging countries will hamper the market's growth in the forecast period of 2022 to 2029. Specific data processing for specific software, internet connectivity issues and lack of skilled professionals are also factors limiting the market expansion.
This teleconsultation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the teleconsultation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Teleconsultation Market
In 2020, the global market for teleconsultation has been considerably impacted by the COVID-19 epidemic. Since the Covid-19 pandemic outbreak, general practitioners (GPs) and their patients have increasingly used medical teleconsultations to communicate in primary healthcare across many nations. A key element in enhancing treatment outcomes and patient satisfaction is the GP-patient relationship's level of communication.
Global Teleconsultation Market Scope
The teleconsultation market is segmented on the basis of type, component, application, deliver mode, technology and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Call Centers
- Store and Forward
- Real Time
- Healthcare Facilities
Teleconsultation Market Regional Analysis/Insights
The teleconsultation market is analysed and market size insights and trends are provided by country, type, component, application, deliver mode, technology and end-user as referenced above.
The countries covered in the teleconsultation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the teleconsultation market due to growing demand for telemedicine in the region.
Asia-Pacific region is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 because of growing demand for telemedicine and healthcare support and emerging economies including China and India.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Teleconsultation Market Share Analysis
The teleconsultation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to teleconsultation market.
Some of the major players operating in the teleconsultation market are:
- Telemedicine Australia (Australia)
- Polycom (U.S.)
- Tracxn Technologies Limited (U.S.)
- Cardiocom LLC (United States)
- Honeywell HomMed (U.S.)
- IBM Corporation (U.S.)
- LG Corp (South Korea)
- McKesson Corporation (U.S.)
- Koninklijke Philips N.V.(Netherlands)
- Samsung (South Korea)
- A&D Company (U.S.)
- BIOTRONIK SE & Co KG (Germany)
- Debiotech SA (Switzerland)
Research Methodology: Global Teleconsultation Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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