Video Telemedicine Market
PUBLISHED: 2024 ID: SMRC24861
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Video Telemedicine Market

Video Telemedicine Market Forecasts to 2030 - Global Analysis By Product (Video Conferencing Tools, Remote Patient Monitoring (RPM) Devices, Telemedicine Carts, Peripheral Devices and Other Products), Component (Hardware, Software and Service), Communication Type, Application, End User and By Geography

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4.5 (81 reviews)
Published: 2024 ID: SMRC24861

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $2.65 BN

Projected Year Value (2030)

US $8.74 BN

CAGR (2023 - 2030)

18.3%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Video Telemedicine Market is accounted for $2.65 billion in 2023 and is expected to reach $8.74 billion by 2030 growing at a CAGR of 18.3% during the forecast period. Video telemedicine utilizes videoconferencing technology to facilitate remote medical consultations between healthcare professionals and patients. This virtual approach enables individuals to access healthcare services from the comfort of their homes, increasing convenience and reducing the need for in-person visits. Patients can consult with doctors, specialists, or mental health professionals in real-time, discussing symptoms, receiving diagnoses, and discussing treatment plans. This technology enhances healthcare accessibility, improves patient outcomes, and provides a flexible healthcare solution for various medical needs.
 
According to the American Hospital Association and AVIA's 2017 research, In order to provide healthcare treatments to their patients, approximately 76 percent of U.S. hospitals currently communicate with patients remotely utilizing video and other technologies. 

Market Dynamics: 

Driver: 

Rising prevalence of chronic diseases

Telehealth technologies offer a valuable solution for managing chronic conditions by enabling remote monitoring, timely consultations, and continuous patient engagement. The convenience and efficiency of virtual consultations contribute to proactive disease management, reducing hospitalization rates and overall healthcare costs. It facilitates regular check-ups and real-time communication between healthcare providers and patients, improving accessibility to specialized care. As chronic conditions continue to escalate globally, the demand for video telemedicine services is expected to grow, providing an effective and patient-centric approach to long-term healthcare.

Restraint:

Lack of standardization

Telemedicine solutions are often developed independently, leading to interoperability challenges and hindered data exchange between systems. Without universal protocols, interoperability challenges arise, making it difficult for different telemedicine platforms to communicate and share data effectively. Further, healthcare providers face difficulties in navigating varied protocols, impeding the delivery of standardized care. This fragmentation complicates the adoption of telemedicine on a broader scale and hampers the establishment of consistent best practices.

Opportunity:

Growing acceptance of virtual consultations

Telemedicine offers patients the flexibility to consult with healthcare professionals from the comfort of their homes, reducing travel time and enhancing overall accessibility. The covid-19 pandemic has accelerated this acceptance, highlighting the importance of remote healthcare delivery. Additionally, advancements in technology, improved internet connectivity, and positive patient experiences contribute to the increasing trust in virtual consultations. The ability to manage chronic conditions remotely further drives the widespread adoption of video telemedicine as a integral component of modern healthcare delivery.

Threat:

Privacy and security concerns

Privacy and security concerns in video telemedicine revolve around the potential compromise of sensitive patient data. The transmission and storage of medical information over digital platforms pose risks of unauthorized access, data breaches, and cyber threats. Ensuring robust encryption protocols, secure data storage, and adherence to stringent privacy regulations is paramount. Patients worry about the confidentiality of their health information during remote consultations. This aspect is hindering the market expansion.

Covid-19 Impact

The covid-19 pandemic has significantly accelerated the growth of the video telemedicine market. With lockdowns and social distancing measures in place, there has been a surge in demand for remote healthcare services. The increased adoption of telemedicine solutions has led to a rapid expansion of the video telemedicine market, with a growing number of healthcare providers and patients embracing this technology. The pandemic has not only reshaped healthcare delivery but has also underscored the importance of telemedicine in ensuring continuity of care during crises.

The video conferencing tools segment is expected to be the largest during the forecast period

The video conferencing tools segment is estimated to have a lucrative growth. These tools enable real-time, face-to-face communication, enhancing the quality of remote healthcare delivery. Features such as secure video transmission, file sharing, and screen sharing contribute to effective diagnostics and treatment planning. Leading platforms in the market include Zoom, Microsoft Teams, and Cisco Webex, each offering a user-friendly interface and robust functionalities. The integration of video conferencing tools in telemedicine enhances accessibility, promotes patient engagement, and contributes to the overall growth of remote healthcare services. 

The hospitals segment is expected to have the highest CAGR during the forecast period

The hospitals segment is anticipated to witness the highest CAGR growth during the forecast period. Video Telemedicine in hospitals enhances patient care by enabling remote consultations, reducing the need for physical visits. It facilitates timely communication among healthcare professionals, leading to quicker decision-making. Video telemedicine also minimizes the risk of infectious disease transmission by limiting in-person contact. Overall, it enhances efficiency, accessibility, and patient outcomes while offering a convenient and flexible healthcare delivery model.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing technological adoption, expanding healthcare infrastructure, and a rising demand for remote healthcare services. Factors such as a large population, diverse healthcare needs, and efforts to improve healthcare accessibility are driving the region’s market. The covid-19 pandemic has further accelerated the acceptance of video telehealth solutions. However, challenges such as varying regulatory frameworks and the need for increased awareness and education about telemedicine persist in certain Asia-Pacific countries.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the increased adoption of remote healthcare solutions. Factors such as technological advancements, a growing aging population, and the rising prevalence of chronic diseases contribute to market expansion. The covid-19 pandemic has also accelerated the acceptance of virtual care services. Telemedicine in North America continues to evolve, with both patients and healthcare providers recognizing the benefits of virtual consultations and remote monitoring.

Key players in the market

Some of the key players profiled in the Video Telemedicine Market include AMD Global Telemedicine, Enghouse Systems Limited, GlobalMed Inc., Cisco Systems, VSee lab Inc., Logitech International, Plantronics, Life-Size Communication Inc., Huawei Technologies Co Limited, Premier Global Services Inc., Sony Corporation, ZTE Corporation, Vermont Telephone Company, Babylon Health, Philips Healthcare, American Well, Doctor On Demand, InTouch Health, Chiron Health and Hale Health.

Key Developments:

In November 2023, Amcor announced the development of the lightest 900-ml Polyethylene Terephthalate (PET) bottle for edible oil in Brazil. The custom-designed bottle for agribusiness and food producer Bunge in São Paulo is 22 percent lighter than other bottles while offering great sustainability benefits.

Products Covered:
• Video Conferencing Tools
• Remote Patient Monitoring (RPM) Devices
• Telemedicine Carts
• Peripheral Devices
• Other Products

Components Covered:
• Hardware
• Software
• Service

Communication Types Covered:
• 3G
• 4G
• 5G
• Satellite Communication
• Asymmetric Digital Subscriber Line (ADSL)
• Broadband Integrated Services Digital Network (B-ISDN)

Applications Covered:
• Cardiology
• Neurology
• Orthopedics
• Radiology
• Dermatology
• Gynaecology
• Dentistry
• Oncology
• Pathology
• Other Applications

End Users Covered:
• Home Care Services
• Hospitals
• Clinics
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary           
             
2 Preface            
 2.1 Abstract           
 2.2 Stake Holders          
 2.3 Research Scope          
 2.4 Research Methodology         
  2.4.1 Data Mining         
  2.4.2 Data Analysis         
  2.4.3 Data Validation         
  2.4.4 Research Approach         
 2.5 Research Sources          
  2.5.1 Primary Research Sources        
  2.5.2 Secondary Research Sources        
  2.5.3 Assumptions         
             
3 Market Trend Analysis          
 3.1 Introduction          
 3.2 Drivers           
 3.3 Restraints          
 3.4 Opportunities          
 3.5 Threats           
 3.6 Product Analysis          
 3.7 Application Analysis         
 3.8 End User Analysis          
 3.9 Emerging Markets          
 3.10 Impact of Covid-19          
             
4 Porters Five Force Analysis          
 4.1 Bargaining power of suppliers         
 4.2 Bargaining power of buyers         
 4.3 Threat of substitutes         
 4.4 Threat of new entrants         
 4.5 Competitive rivalry          
             
5 Global Video Telemedicine Market, By Product        
 5.1 Introduction          
 5.2 Video Conferencing Tools         
 5.3 Remote Patient Monitoring (RPM) Devices       
 5.4 Telemedicine Carts          
 5.5 Peripheral Devices          
 5.6 Other Products          
             
6 Global Video Telemedicine Market, By Component        
 6.1 Introduction          
 6.2 Hardware          
  6.2.1 Cameras          
  6.2.2 Microphones         
  6.2.3 Displays/Monitors         
 6.3 Software           
  6.3.1 Custom Telemedicine Software       
  6.3.2 Telemedicine Platforms        
  6.3.3 Electronic Health Records (EHR) Integration      
  6.3.4 Security & Compliance Software       
  6.3.5 Practice Management Software       
  6.3.6 Patient Engagement Software        
 6.4 Service           
  6.4.1 Consulting Services         
  6.4.2 Technical Support         
             
7 Global Video Telemedicine Market, By Communication Type       
 7.1 Introduction          
 7.2 3G           
 7.3 4G           
 7.4 5G           
 7.5 Satellite Communication         
 7.6 Asymmetric Digital Subscriber Line (ADSL)       
 7.7 Broadband Integrated Services Digital Network (B-ISDN)      
             
8 Global Video Telemedicine Market, By Application        
 8.1 Introduction          
 8.2 Cardiology          
 8.3 Neurology          
 8.4 Orthopedics          
 8.5 Radiology          
 8.6 Dermatology          
 8.7 Gynaecology          
 8.8 Dentistry           
 8.9 Oncology           
 8.10 Pathology          
 8.11 Other Applications          
             
9 Global Video Telemedicine Market, By End User        
 9.1 Introduction          
 9.2 Home Care Services          
 9.3 Hospitals           
 9.4 Clinics           
 9.5 Other End Users          
             
10 Global Video Telemedicine Market, By Geography        
 10.1 Introduction          
 10.2 North America          
  10.2.1 US          
  10.2.2 Canada          
  10.2.3 Mexico          
 10.3 Europe           
  10.3.1 Germany          
  10.3.2 UK          
  10.3.3 Italy          
  10.3.4 France          
  10.3.5 Spain          
  10.3.6 Rest of Europe         
 10.4 Asia Pacific          
  10.4.1 Japan          
  10.4.2 China          
  10.4.3 India          
  10.4.4 Australia          
  10.4.5 New Zealand         
  10.4.6 South Korea         
  10.4.7 Rest of Asia Pacific         
 10.5 South America          
  10.5.1 Argentina         
  10.5.2 Brazil          
  10.5.3 Chile          
  10.5.4 Rest of South America        
 10.6 Middle East & Africa         
  10.6.1 Saudi Arabia         
  10.6.2 UAE          
  10.6.3 Qatar          
  10.6.4 South Africa         
  10.6.5 Rest of Middle East & Africa        
             
11 Key Developments           
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 11.2 Acquisitions & Mergers         
 11.3 New Product Launch         
 11.4 Expansions          
 11.5 Other Key Strategies         
             
12 Company Profiling           
 12.1 AMD Global Telemedicine         
 12.2 Enghouse Systems Limited         
 12.3 GlobalMed Inc.          
 12.4 Cisco Systems          
 12.5 VSee lab Inc.          
 12.6 Logitech International         
 12.7 Plantronics          
 12.8 Life-Size Communication Inc.         
 12.9 Huawei Technologies Co Limited        
 12.10 Premier Global Services Inc.         
 12.11 Sony Corporation          
 12.12 ZTE Corporation          
 12.13 Vermont Telephone Company         
 12.14 Babylon Health          
 12.15 Philips Healthcare          
 12.16 American Well          
 12.17 Doctor On Demand          
 12.18 InTouch Health          
 12.19 Chiron Health          
 12.20 Hale Health          
             
List of Tables            
1 Global Video Telemedicine Market Outlook, By Region (2021-2030) ($MN)     
2 Global Video Telemedicine Market Outlook, By Product (2021-2030) ($MN)     
3 Global Video Telemedicine Market Outlook, By Video Conferencing Tools (2021-2030) ($MN)    
4 Global Video Telemedicine Market Outlook, By Remote Patient Monitoring (RPM) Devices (2021-2030) ($MN)  
5 Global Video Telemedicine Market Outlook, By Telemedicine Carts (2021-2030) ($MN)    
6 Global Video Telemedicine Market Outlook, By Peripheral Devices (2021-2030) ($MN)    
7 Global Video Telemedicine Market Outlook, By Other Products (2021-2030) ($MN)     
8 Global Video Telemedicine Market Outlook, By Component (2021-2030) ($MN)     
9 Global Video Telemedicine Market Outlook, By Hardware (2021-2030) ($MN)     
10 Global Video Telemedicine Market Outlook, By Cameras (2021-2030) ($MN)     
11 Global Video Telemedicine Market Outlook, By Microphones (2021-2030) ($MN)     
12 Global Video Telemedicine Market Outlook, By Displays/Monitors (2021-2030) ($MN)    
13 Global Video Telemedicine Market Outlook, By Software (2021-2030) ($MN)     
14 Global Video Telemedicine Market Outlook, By Custom Telemedicine Software (2021-2030) ($MN)   
15 Global Video Telemedicine Market Outlook, By Telemedicine Platforms (2021-2030) ($MN)    
16 Global Video Telemedicine Market Outlook, By Electronic Health Records (EHR) Integration (2021-2030) ($MN)  
17 Global Video Telemedicine Market Outlook, By Security & Compliance Software (2021-2030) ($MN)   
18 Global Video Telemedicine Market Outlook, By Practice Management Software (2021-2030) ($MN)   
19 Global Video Telemedicine Market Outlook, By Patient Engagement Software (2021-2030) ($MN)   
20 Global Video Telemedicine Market Outlook, By Service (2021-2030) ($MN)     
21 Global Video Telemedicine Market Outlook, By Consulting Services (2021-2030) ($MN)    
22 Global Video Telemedicine Market Outlook, By Technical Support (2021-2030) ($MN)    
23 Global Video Telemedicine Market Outlook, By Communication Type (2021-2030) ($MN)    
24 Global Video Telemedicine Market Outlook, By 3G (2021-2030) ($MN)      
25 Global Video Telemedicine Market Outlook, By 4G (2021-2030) ($MN)      
26 Global Video Telemedicine Market Outlook, By 5G (2021-2030) ($MN)      
27 Global Video Telemedicine Market Outlook, By Satellite Communication (2021-2030) ($MN)    
28 Global Video Telemedicine Market Outlook, By Asymmetric Digital Subscriber Line (ADSL) (2021-2030) ($MN)  
29 Global Video Telemedicine Market Outlook, By Broadband Integrated Services Digital Network (B-ISDN) (2021-2030) ($MN) 
30 Global Video Telemedicine Market Outlook, By Application (2021-2030) ($MN)     
31 Global Video Telemedicine Market Outlook, By Cardiology (2021-2030) ($MN)     
32 Global Video Telemedicine Market Outlook, By Neurology (2021-2030) ($MN)     
33 Global Video Telemedicine Market Outlook, By Orthopedics (2021-2030) ($MN)     
34 Global Video Telemedicine Market Outlook, By Radiology (2021-2030) ($MN)     
35 Global Video Telemedicine Market Outlook, By Dermatology (2021-2030) ($MN)     
36 Global Video Telemedicine Market Outlook, By Gynaecology (2021-2030) ($MN)     
37 Global Video Telemedicine Market Outlook, By Dentistry (2021-2030) ($MN)     
38 Global Video Telemedicine Market Outlook, By Oncology (2021-2030) ($MN)     
39 Global Video Telemedicine Market Outlook, By Pathology (2021-2030) ($MN)     
40 Global Video Telemedicine Market Outlook, By Other Applications (2021-2030) ($MN)    
41 Global Video Telemedicine Market Outlook, By End User (2021-2030) ($MN)     
42 Global Video Telemedicine Market Outlook, By Home Care Services (2021-2030) ($MN)    
43 Global Video Telemedicine Market Outlook, By Hospitals (2021-2030) ($MN)     
44 Global Video Telemedicine Market Outlook, By Clinics (2021-2030) ($MN)     
45 Global Video Telemedicine Market Outlook, By Other End Users (2021-2030) ($MN)    
             
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
           

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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