Kenneth Research, in its repository of market research reports, have recently added a report on Global Video Telemedicine Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Video Telemedicine Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Video Telemedicine Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Video Telemedicine Market is valued approximately USD 1.25 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 15.9 % over the forecast period 2021-2027. Telemedicine can be defined as the use of technology (computers, video, phone, messaging) by a medical professional to diagnose and treat patients in a remote location. Demand for healthcare services and technologies advancement, increasing geriatric population and strategic development between hospitals and urgent care providers has led the adoption of video telemedicine across the forecast period. As technology upgradation such as chatbots, robots use of artificial intelligence make the hospitality feasible. For instance, In 2019, the telemedicine market size in India was almost 830 million U.S. dollars, Total Digital Health Industry Funding World Wide in 2020 13.9 billion USD. However, fraudulent activities and healthcare affordability impede the growth of the market over the forecast period of 2022-2031. Also, digitalization and awakening awareness the adoption & demand for video telemedicine is likely to increase the market growth during the forecast period.
The regional analysis of global Video Telemedicine market is considered for the regions as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to high deployment rate of video telemedicine applications growing demand for smartphones, the elevating use of mobile health app. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2031. Factors such as prevalence of chronic diseases, overcrowding of hospitals would create lucrative growth prospects for the Video Telemedicine market across Asia-Pacific region.
Major market player included in this report are:
Cisco Systems, Inc.
AMD Global Telemedicine, Inc.
Huawei Technologies Co. Ltd.
Logitech, Cisco Systems
GlobalMed, Vidyo, Inc.
Vermont Telephone Company, Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Neurology & Psychiatry
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2022 to 2031
Target Audience of the Global Video Telemedicine Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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