About Covid-19 Impact on Telemedicine Technologies and Services
Telemedicine is the practice of using communications technology to link healthcare providers to their patients and each other over great distances. It refers specifically to remote clinical services. Telemedicine offers a means to help transform healthcare itself by encouraging greater consumer involvement in decision making and providing new approaches to maintaining healthy lifestyle services when participants are at different locations. In 2020, the Telemedicine adoption rate has significantly improved owing to the novel coronavirus globally. There was a drastic shift from 11 percent to 76 percent when it came to people who want to use telehealth. North America is the largest telemedicine market globally. Government initiatives and grants to increase the adoption of telemedicine solutions are expected to boost the market in the United Kingdom.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The United Kingdom telemedicine technologies and services market is highly focused on the number of key market players. The players are adopting advanced techniques for the development of products and services to expand their portfolio, geographical reach, increase customer base, and garner market share. Constant upgrade and innovation in products of telemedicine technologies is the key strategy adopted by major players in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Covid-19 Impact on Telemedicine Technologies and Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
OBS Medical Ltd. (United Kingdom), Immedicare (United Kingdom), Babylon Health (United Kingdom), NHS (United Kingdom), Push Doctor (United Kingdom), Involve Visual Collaboration Limited (United Kingdom), Tele Medicine Clinic (United Kingdom), GE Healthcare (United States), AMD Global Telemedicine, Inc. (United States) and Honeywell International, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Abbott (United States), Telemedicine, Inc. (United States), Koninklijke Philips N.V. (Netherlands), Aerotel Medical Systems Ltd. (Israel), F. Hoffmann-La Roche Ltd (Switzerland), GlobalMedia Group LLC (United States), LifeWatch AG (Switzerland), McKesson Corporation (United States), Cardiocom, LLC, (United States) and Medtronic plc (Ireland).
Segmentation Overview
AMA Research has segmented the market of Global Covid-19 Impact on Telemedicine Technologies and Services market by , Application (Dermatology, Gynecology, Neurology, Cardiology, Orthopedics and Others) and Region.
On the basis of geography, the market of Covid-19 Impact on Telemedicine Technologies and Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Solutions, the sub-segment i.e. Hardware (Telemedicine Kits and Monitors) will boost the Covid-19 Impact on Telemedicine Technologies and Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Hospitals will boost the Covid-19 Impact on Telemedicine Technologies and Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Modern technology such as HIPAA Compliant Video-Conferencing Tools and Adoption of mHealth, and Artificial Intelligence as a Standard of Care
Market Growth Drivers:
Increase in Incidence of Chronic Diseases and Adoption of Telemedicine Solutions, Rise in Demand for Self-Care Devices/Solutions Such As mHealth and Remote Monitoring, Increased Traditional Health Care Costs, and Increase in Digital Health Users and Development in Healthcare Infrastructure and Rise in Telemedicine Products
Challenges:
Stringent Regulatory Framework and Lack of Skilled Workforce or Resources
Restraints:
Highly Cost-Intensive and Requires Huge Installation Costs and Privacy and Security Concerns about Patient Information
Opportunities:
Growing Technological Developments in Telemedicine and Healthcare such as Adoption of 5G, Internet of Medical Things, Blockchain, and Cloud Technology and Increasing Research & Development Activities to Develop New, Innovative, and Technologically Advanced Products
Market Leaders and their expansionary development strategies
In March 2021, SOC Telemed, Inc., the leading national provider of acute care telemedicine solutions, announced that it has completed its acquisition of Access Physicians, an experienced multi-specialty acute telemedicine provider, By bringing two market leaders together, this combination furthers SOC Telemed's position as the largest pure-play provider of acute care telemedicine in the nation,
In February 2024, Yellowcross Healthcare Commerce, a telemedicine practice management organization, launched a new consultancy service to help medical groups and health care facilities expand their remote care capabilities.Yellowcross works with hospitals, clinics, medical groups, and entrepreneurial physicians throughout the United States to develop focused service offerings to address radiologist shortages and provide specialty diagnostic services.
Key Target Audience
Telemedicine Technologies and Services Providers, System and Software Developers, Laboratories & Research Institutes, Hospitals & Clinics, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.