The global telemedicine market is expected to exceed $130.5 billion by 2025, according to a recent research report by Global Market Insights.
In particular, the US market is expected to reach $64.1 billion by 2025. Increasing number of smart phone users along with development of telecommunication network will drive the market growth in the future. In addition, various government initiatives to provide reimbursement of healthcare services to population having limited or no access to healthcare services will drive global market.
Indian telemedicine market is forecasted to grow at 22.4% CAGR over the next seven years. Telemedicine services enables patients in remote areas to save travel time and cost for consulting. Moreover, various government initiatives and policies such as Ayushman Bharat Scheme will further lead to market growth in the region.
Teleconsultation service market is expected to grow at 18.9% CAGR across on an annual basis, while the telehospital market is forecasted to reach USD 85.3 billion by 2025. Telehospital business is poised to witness high growth across the globe owing to growing telecommunication infrastructure. Regarding medical specialties, application of telemedicine in dermatological diseases is expected to reach USD 30.7 billion by 2025.
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