How large is the telemedicine market?

09, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global Telemedicine Market generated $40.20 billion in 2020, and is projected to reach $431.82 billion by 2030, registering a CAGR of 25.9\% from 2021 to 2030.

How much is the telemedicine market set to be valued at by 2026?

With 20\% CAGR, Global Telemedicine Market Size Value Set to Grow USD 150 Billion by 2026: Facts & Factors.

What is the value of telemedicine?

Telehealth helps increase health care value and affordability. Virtual care technology saves patients time and money, reduces patient transfers, emergency department and urgent care center visits, and delivers savings to payers.

What is teladoc market share?

The US telehealth market was valued at $8.13 bln in 2020 and forecasted to grow at a CAGR of 32\% until 2026. Overall, as the market leader, the company has a 13\% market share in the US.

How many telemedicine companies are there?

260+ telehealth companies to know | 2020. Hospitals and health systems across the U.S. have developed telehealth strategies to connect with patients in remote locations. This has become especially important during the pandemic.

Does a phone call count as telehealth?

American Telemedicine Association (ATA) “telemedicine is the use of medical information exchanged from one site to another via electronic communications to improve a patient’s clinical health status. Generally, telemedicine is not an audio-only, telephone conversation, e-mail/instant messaging conversation, or fax.

What are the growth drivers of telemedicine market?

Market Drivers, Restraining, Opportunities Rising Consumer Demand and Increasing Patient Acceptance Growing Incidence of Lifestyle-Related Chronic Diseases Enhanced Quality of Care Lack of Access to Care & Rising Provider Adoption of Telemedicine

How much can the telemedicine market grow?

Telemedicine Market size was valued at USD 60.9 billion in 2020 and is estimated to grow at 18.2\% CAGR between 2021 and 2027. Increasing prevalence of chronic disease and growing need for patient management will positively influence the market growth.

What is one advantage of telemedicine?

Another advantage of telemedicine is that it reduces the amount of travel time required to access specialized services. This is particularly useful in rural areas, where a trip to a mental health specialist can involve lengthy drives, taking time off work and other expenses.

How many people use telehealth?

COSTA MESA, Calif.: 31 July 2019 – While 9.6\% of Americans have used telehealth services, nearly three-fourths (74.3\%) say they either don’t have access or are unaware of telehealth options, according to a J.D. Power pulse survey tracing telehealth user experience, hurdles to adoption and real-world patient concerns.