U.S. Telemedicine Market to Cross $ 64 Bn by 2025

January 03, 2020


According to the research report titled ‘U.S. Telemedicine Market Size By Service (Tele-consulting, Tele-monitoring, Tele-education/training), By Type (Telehospital {Integrated Delivery Network, Academic Medical Centers, Large Independent Hospitals, Medium Independent Hospitals, Small Hospitals}, Telehome), By Specialty (Cardiology, Gynecology, Neurology, Orthopedics, Dermatology, Mental Health, Critical Care, Neonatology), By Component (Hardware, Software, Services), By Delivery Mode (Web/Mobile {Telephonic, Visualized}, Call Centers), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the U.S. telemedicine market is expected to surpass USD 64 billion by the year 2025.
 

Growing occurrence of chronic disorders such as cardiovascular diseases, diabetes, and cancer due to unhealthy lifestyle, in consort with surging need for low cost medical delivery are driving U.S. telemedicine market growth. There are numerous advancements in technology such as smartphone lens which help in identifying oral and skin conditions and scanners integrated in mobile phones which facilitate detection of thyroid disorders, chronic conditions, and malaria by analyzing blood samples. Thus, advanced smartphone features, coupled with rising adoption of smartphones and internet services are augmenting the demand for telemedicine services across the United States.  
 

Various healthcare apps for smartphones allow patients to schedule doctor’s appointment remotely, which allows individuals to manage personal health at a reduced cost. However, lack of favorable reimbursement policies and strict federal regulations may hinder the growth of the market. Additionally, growing consumer concerns regarding privacy and data security may impede the U.S. telemedicine market growth.
 

According to the report, tele-consulting services segment is presumed to grow by 18.2% during the forecast period. Tele-consulting services offer consultation for various disease indications through numerous reading methodologies and imaging modalities. The service allows patients in distant areas to consult with doctors remotely and get timely medical services at low cost. 
 

As per type, tele-hospital segment was worth USD 12.7 billion in 2018. Escalating government investments for tele-hospital medicines, surging need for efficient and low-cost healthcare services, and increasing use of smartphone are stimulating the segmental growth.  
 

The report cites that the U.S. telemedicine market from neurology specialty segment is expected to grow by 19.3% during the estimated time frame. The growth is attributed to high incidents of neurological disorders in the region, coupled with the ease and convenience of follow-up offered by the service.
 

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Based on component type, services segment held a revenue share of 53% in U.S. telemedicine market in 2018. Whereas by delivery mode, web/mobile segment amassed revenues worth USD 11.8 billion in 2018, as these delivery modes offer personalized telemedicine services and can be easily integrated with internal network in order to share data related to the patient’s health.
 

The prominent companies operating in the U.S. telemedicine market are Cerner Corp., Philips, Honeywell International, Cisco Systems, McKesson Corp, Blue-Sky Telehealth, Eagle Telemedicine, InSight, InTouch Technologies, AMD U.S., and Allscripts Healthcare Solutions among others.


Frequently Asked Questions (FAQ) :

Growing occurrence of chronic disorders such as cardiovascular diseases, diabetes, and cancer due to unhealthy lifestyle, in consort with surging need for low cost medical delivery are driving U.S. telemedicine market growth. There are numerous advancements in technology such as smartphone lens which helps in identifying oral and skin conditions and scanners integrated in mobile phones which facilitate in detection of thyroid disorders, chronic conditions, and malaria by analyzing blood samples. Thus, advanced smartphone features, coupled with rising adoption of smartphones and internet services are augmenting the demand for telemedicine services across the United States.
Lack of favorable reimbursement policies and strict federal regulations may hinder the growth of the market. Additionally, growing consumer concerns regarding privacy and data security may impede the U.S. telemedicine market growth.
The report cites that the U.S. telemedicine market from neurology specialty segment is expected to grow over 19% during the estimated time frame. The growth is attributed to high incidents of neurological disorders, coupled with the ease and convenience of follow-up offered by the service.
The prominent companies operating in the U.S. telemedicine market are Cerner Corp., Philips, Honeywell International, Cisco Systems, McKesson Corp, Blue-Sky Telehealth, Eagle Telemedicine, InSight, InTouch Technologies, AMD U.S., and Allscripts Healthcare Solutions among others.