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In March 2019, Teladoc Health launched the Teladoc Telemedicine Services in Canada with an aim to expand its product portfolio of available healthcare solutions. Telemedicine services are a viable and emerging service model used to provide services to physicians and healthcare suppliers. In telemedicine services, telecommunication and information technology are utilized to overcome the barrier of distance and improve the medical services at the end-user level. The service allows the healthcare providers to diagnose, evaluate, and treat the patients without the in-person visit. Almost every medical field has some use for consulting a patient or other provider. Because of shortages of care, limited access to specialists in some areas, and remote locations of patients, telemedicine is incredibly useful to any healthcare provider trying to provide access to quality.
Key Market Driver -
Rising prevalence of chronic disease, increasing geriatric population combined with telemedicine services
Key Market Restraint -
High device costs associated with telemedicine services
The growing incidences of lifestyle-related chronic diseases, rising funds provided by the government for telemedicine, growing demand for self-care in remote locations, and rising geriatric population are some of the factors that are driving the growth of emergency telemedicine services market. According to the World Health Organisation (WHO), the prevalence of 251 million cases of chronic obstructive pulmonary disease (COPD) was reported in 2016, globally.
Rising prevalence of chronic diseases, growing geriatric population, growing sedentary lifestyle, and increasing awareness among people about emergency telemedicine services are some of the factors that are driving the market growth.
However, high device costs associated with emergency telemedicine services is likely to decline the growth of the emergency telemedicine services market.
By type, the market can be segmented into tele-consultation, tele-monitoring, tele-education, tele-care, tele-training, and tele-surgery. By application, the market can be segmented into cardiology, neurology, dermatology, orthopaedics, emergency care, internal medicine, gynaecology, and others. By end users, the market can be segmented hospitals, clinics, ambulatory surgical centers, and others.
Geographically, the emergency telemedicine services market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The major players in the global emergency telemedicine services market report includes Aerotel Medical Systems (1998) Ltd., Allscripts Healthcare, LLC, BioTelemetry, Inc., Medtronic, McKesson Corporation, Honeywell International Inc., AMD Global Telemedicine, Inc. and other prominent players.
The global emergency telemedicine services market is expected to be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to lead the global emergency telemedicine services market due to an increasing prevalence of chronic disorders in the U.S. Also, the availability of advanced healthcare facilities and rising investments in improving emergency telemedicine services are responsible factors for its dominance.
Key Market Driver -
Rising prevalence of chronic disease, increasing geriatric population combined with telemedicine services
Key Market Restraint -
High device costs associated with telemedicine services
Europe is likely to have the second-largest market share owing to the rising geriatric population and rising prevalence of chronic disorders. Asia Pacific and Latin America are expected to register fast market growth during the forecast period due to the increasing number of chronic disorders due to the growing sedentary lifestyle and awareness about the emergency telemedicine services among the people.
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