Acknowledging the kind of traction gained by this market, Industry data Analytics recently published a study report asserts the global Telemedicine Equipment Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 17.8% during the review period (2022 to 2027).
The growing demand for telemedicine equipment owing to the ability to treat wide range of medical conditions and less commuting time is increasing the telemedicine equipment market growth. For instance, in 2020, according to the Centre for Disease Control and Prevention (CDC) the number of telehealth visits in the first quarter of 2020 was enlarged by 50% as compared to the same period in previous year.The aspects which driving the market are due to increase in the incidence and prevalence of chronic disease such as cancer and others. In addition, increase in the generic population with chronic disease will show positive impact and improvement the growth of Telemedicine equipment market.
As Improvement in telemonitoring and home telehealth will be instrumental in increased adoption of telemedicine among the generic population.Moreover, advancement in telemedicine software and improved healthcare facility is projected to growth in telemedicine equipment market over the forecast period. Furthermore, improved quality of telemedicine equipment will raise the product demand in the marketThough, the growth of market is hindered due to lack of awareness and acceptance of telemedicine among doctors and service providers. Moreover, limited reimbursement policy makes telemedicine equipment unattractive to providers.
Industry Development:
December 2021, Mesmerize announced partnership with VSee. This partnership is aimed to provide additional platform for Mesmerize's advertisers to reach healthcare providers and patients within Mesmerize's network telehealth solutions to offer remote patient monitoring services. This partnership will deliver best in class telehealth care service offerings.
The Telemedicine Equipment Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes AMD Global Telemedicine Inc., Resideo Technologies Inc. (Honeywell Life Care Solutions), InTouch Technologies Inc., Allscripts Healthcare Solutions Inc, CardioNet, IBM Corporation, Iris Telehealth, Koninklijke Philips N.V., TeleVital, Tunstall Healthcare, Medvivo Group Ltd and Aerotel Medical Systems ,Ltd, Mesmerize and others.
Telemedicine Equipment Market is segmented based on the type, applications, companies and regions.
By Product
By Application it is segmented into
North America dominates the Telemedicine Equipment market owing to the well-established veterinary healthcare infrastructure. Asia-Pacific is anticipated to score maximum growth rate and exhibit the highest CAGR for the forecast period 2022-2027. This is because of the rising expenditure to develop veterinary healthcare infrastructure and increased focus of the government towards immunization programs. In addition, according to the National Clinical Trials (NCT) Registry, as of September 21, 2020, in the United States, nearly 500 vaccine clinical trials are under development, which are anticipated to have an optimistic impact on the study market for these services. They are effective in increasing or activating the immune system. Therefore, ongoing clinical trials related to vaccine development and high-quality research activities in the United States are anticipated to further the market growth studied in North America in the forecast period.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 17.8% during the review period (2022 to 2027). |
By Product Type |
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By Application | Hospitals Clinics Specialty centers Home care settings Others |
By Companies | AMD Global Telemedicine Inc., Resideo Technologies Inc. (Honeywell Life Care Solutions), InTouch Technologies Inc., Allscripts Healthcare Solutions Inc, CardioNet, IBM Corporation, Iris Telehealth, Koninklijke Philips N.V., TeleVital, Tunstall Healthcare, Medvivo Group Ltd and Aerotel Medical Systems ,Ltd, Mesmerize |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 134 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Telemedicine Equipment Market is studied from 2017 - 2027.
What is the growth rate of Telemedicine Equipment Market?
The Telemedicine Equipment Market is growing at a CAGR of 17.8% over the next 5 years.
Who are the leading key players in Telemedicine Equipment Market?
AMD Global Telemedicine Inc., Resideo Technologies Inc. (Honeywell Life Care Solutions), InTouch Technologies Inc., Allscripts Healthcare Solutions Inc, CardioNet, IBM Corporation, Iris Telehealth, Koninklijke Philips N.V., TeleVital, Tunstall Healthcare, Medvivo Group Ltd and Aerotel Medical Systems ,Ltd, Mesmerize
What regions regions does this Telemedicine Equipment Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Telemedicine Equipment Market?
Telemedicine cart,Telemedicine kit,Telemedicine kiosk,Peripherals
What are the significant Applications of Telemedicine Equipment Market?
Hospitals, Clinics, Specialty centers, Home care settings, Others
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
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EXPERT VALIDATION
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REPORT WRITING/ PRESENTATION
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