The global Video Telemedicine Market report published by Reports and Data assesses the Video Telemedicine Market with regards to market size, market share, revenue growth, key segments, and regional bifurcation. The global Video Telemedicine Market is highly fragmented with numerous players operating on a global and regional level. The companies are engaged in mergers and acquisitions, joint ventures, and collaborations along with product advancements and RD activities to cater to the growing global demand and gain a robust footing in the market. Key companies operating in the market and profiled in the report include: Cisco Systems, Inc, AMD Global Telemedicine, Inc., Huawei Technologies Co. Ltd., Logitech, Cisco Systems, Plantronics, Inc., Sony Corporation, Lifesize, Inc., GlobalMed, Vidyo, Inc., Vermont Telephone Company, Inc. and ZTE Corporation.
According to RnD, the global Video Telemedicine Market size is expected to reach USD 3.55 billion in 2027 from its valuation of USD 1.08 billion in 2019 and register a CAGR of 15.9 % during the forecast period of 2019-2027.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. Combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription have significantly contributed to the revenue growth of the market.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register highest market growth over the forecast period attributed to increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
Growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and RD activities to hamper market growth
Imposition of strict government regulations and shortage of funds have put a halt on the product launches and RD activities and are expected to restrain market growth over the forecast period. In addition, launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering market growth.
For the purpose of this study, Reports and Data have segmented the Video Telemedicine market on the basis of Component, Communication Technology, Application, End-user, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Communication Technology Outlook (Revenue, USD Billion; 2017-2027)
- Broadband ISDN
- Satellite Communication
Application Outlook (Revenue, USD Billion; 2017-2027)
- Neurology Psychiatry
End-user Outlook (Revenue, USD Billion; 2017-2027)
- Home Care Services
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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