The Global Telemedicine Market is expected to reach USD 130.5 billion by 2025, witnessing a healthy CAGR of 19% during the forecast period 2020-2026. Factors driving the market include growing prevalence of chronic diseases, surging geriatric population, increasing remote patient monitoring and rising healthcare costs.
Communication technologies relay a great potential to resolve medical challenges faced in developed and developing countries. The approach towards telemedicine not only proves cost-effective but also results in development of high-quality healthcare services. This is majorly beneficial in rural areas and tribal communities in developing countries that suffer from lack of accessibility to healthcare services. To empower this, World Health Organization (WHO) incorporated Global Observatory for eHealth (GOe) to assess the crucial possibilities and benefits of communication technologies that leads in accessibility to better healthcare facilities even for remote patients.
In the recent years, since its inception the field of telemedicine has incurred maximum benefits such as high frequency of patients, increase in number of patients that rely on telemedicine and cost-effectiveness. On the other hand, existing challenges need to be pursued while approaching for telemedicine. In developing countries, challenges such as poor infrastructure, lack of technical competency and high costs are witnessed. While in developed countries, legal issues, confidentiality and lack of demand curtails the commercial landscape.