According to the recent 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 register a significant growth over 2020-2026, accumulating USD 5.5 billion by the end of the analysis period.
 

Growing number of smartphones users, increasing prevalence of chronic diseases, and rising cases of COVID-19 infection are primarily driving Latin America telemedicine market growth. Moreover, supportive government initiatives, surging demand for cost-saving in healthcare delivery, and technological advancements related to internet and mobiles are also contributing to the overall market outlook.
 

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After the outbreak of COVID-19 pandemic, a sharp increase in the number of telemedicine visits has been observed, with preference for video consultations, which is further boosting the market valuation.
 

Coming to the restraints, lack of knowledge and trust in online consultation across developing countries, along with security & privacy concerns are likely to impede Latin America telemedicine industry share.
 

With respect to service, tele-monitoring segment held 25% industry share in 2019 and is expected to grow further in the ensuing year, owing to its wide application in cases of chronic diseases like heart failure, cardiopulmonary disease, and asthma. In addition, government efforts to track COVID-19 patients through remote monitoring will drive segmental growth.
 

Based on type, Latin America telemedicine market share from telehome segment is predicted to amass USD 1.7 billion by 2026, creditable to advancement in patient-centered telemedicine platform for home treatment.
 

Elaborating on specialty, mental health segment accrued USD 283.1 million in 2019, attributable to rising instances of mental disorders, along with limited number of healthcare providers for mental health.  
 

Moving on to delivery mode, call centers segment held 40% of Latin America telemedicine industry share in 2019 and is projected to record considerable growth over the analysis timeframe, owing to ease of management of patient calls by a multi-specialty hospital.
 

Geographically, Mexico telemedicine industry is expected to record 21% CAGR over the coming years, creditable to escalating COVID-19 cases in the country. Furthermore, government policies as well as increased awareness of the benefits of telemedicine facilities will propel the industry expansion.
 

Leading players impacting Latin America telemedicine market dynamics are VivaBem, Teladoc Health Inc., McKesson Corporation, Lumed Health, Koninklijke Philips N.V., Honeywell International Inc., Docademic Inc., Cisco Systems Inc., Cerner Corporation, AMD Global Telemedicine Inc., and Aerotel Medical Systems Ltd.