Telemedicine Technologies and Services Market to expand at a CAGR of more than 15% from 2017 to 2025 – TMR

Transparency Market Research (TMR) has published a new report titled, “Telemedicine Technologies & Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. According to the report, the global telemedicine technologies & services market was valued at US$ 21,000 Mn in 2016 and is projected to expand at a CAGR of 15% from 2017 to 2025. The report suggests that rise in geriatric population, increase in prevalence of chronic diseases such as diabetes, cardiovascular diseases, and others, surge in demand for self-care devices/solutions, increase in penetration of smartphones and Internet services, and shortage of health care personnel are likely to drive the telemedicine technologies & services market from 2017 to 2025.

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The global telemedicine technologies & services market is driven by emerging new and advanced technologies, increase in incidence of chronic diseases, and adoption of telemedicine solutions. Rise in geriatric population, surge in prevalence of long-term care conditions, increase in demand for self-care, and advances in mobile penetration, connectivity, and ICT services are the other factors propelling the global telemedicine technologies & services market. However, disparity of Internet quality and cyber threats are the major restraints of the global telemedicine technologies & services market.

The U.S. and China are projected to dominate the global telemedicine technologies & services market in the next few years, owing to increase in manufacturer focus for business expansion in these regions. Players are developing advanced telemedicine technologies & services products for research operations and entering into distribution agreements to strengthen their presence in the U.S. and China. Increase in adoption of technologically advanced products manufactured by local manufacturers drive the telemedicine technologies & services market in the U.K. The market in the country is expected to expand at a CAGR of 16% from 2017 to 2025