According to the research report titled ‘Latin America telemedicine Market Size By Type, Delivery Mode, Service, Specialty, Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report, Latin America telemedicine market is projected to exceed USD 5.5 billion by the year 2026.
 

Rising prevalence of COVID-19 infections along with implementation of social distancing norms enforced by the government serves as a major growth impetus for Latin America telemedicine market during forecast period, cites the study.
 

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Further, rising incidences of chronic ailments such as cancer, diabetes and heart diseases are fueling the market growth. However, security concerns related to telemedicine solutions is likely to hamper Latin America telemedicine market growth in the coming years.
 

With respect to service, tele-monitoring segment accounted for 25% of Latin America telemedicine market share in 2019 and is expected to witness significant growth during the forecast period owing to its wide range of applications in treatment of chronic diseases like asthma, cardiopulmonary disease and heart failure. Additionally, efforts taken by the government to monitor COVID-19 patients through remote monitoring is boosting the segmental growth.
 

By type, telehome segment is predicted to reach USD 1.7 billion by 2026. Growing availability of patient-centered telemedicine platform for home treatment, and travel restrictions on patients for non-emergencies due to the imposition of lockdown mandates amid the COVID-19 pandemic are expanding the segmental share.
 

Based on specialty, mental health segment in Latin America telemedicine market was valued USD 283.1 million in 2019 and is expected to gain considerable traction in the upcoming years, attributable to rising prevalence of mental disorders and scarcity of healthcare providers for mental health.
 

Elaborating on delivery mode, call centers segment represented 40% of Latin America telemedicine market share in 2019 and is expected to continue to showcase strong growth trends during forecast period owing to ease of managing patient calls in a multi-specialty hospital. Moreover, adequate presence of trained nurses that can efficiently engage patient health information is propelling the segment growth.
 

From a regional perspective, Mexico telemedicine market is estimated to register 21% CAGR through 2026. Rising cases of COVID-19, increasing awareness among the populace regarding the benefits of telemedicine, favorable government initiatives, and rising adoption of technologically advanced digital health devices are fostering the industry growth in the country.
 

Major players influencing Latin America telemedicine market trends are VivaBem, Teladoc Health, Inc., Honeywell International, Inc., La-med Healthcare Pvt. Ltd., McKesson Corporation, Cisco Systems, Inc., Koninklijke Philips N.V., AMD Global Telemedicine, Inc., Docademic Inc., Cerner Corporation, and Aerotel Medical Systems Ltd.