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How has the video telemedicine market grown in recent years?

The rapid growth of the video telemedicine market has been observed in the past few years. The market, which is projected to scale from $2.98 billion in 2024 to $3.49 billion in 2025, anticipates a compound annual growth rate (CAGR) of 17.5%. The escalating expansion during the historical timeframe is the outcome of the enhancement in internet infrastructure, a surge in healthcare expenses, amplified demand for distance health services, growth in the aged population, and regulatory reinforcements.

How is the video telemedicine market size expected to evolve during the forecast period?

The market size for video telemedicine is anticipated to expand briskly in the coming years, projecting a growth to $6.88 billion by 2029 with a compound annual growth rate (CAGR) of 18.4%. The predictors for this growth within the forecast period include an increase in telehealth funding, surge in chronic disease cases, the expansion of high-speed internet services, regulatory provisions supporting telemedicine, and worldwide health emergencies. Some of the major trends expected during this forecast period are the strengthening of cybersecurity provisions, customization in telemedicine solutions, the boost in use of wearable devices within telehealth, emphasis on telemedicine services for mental health, and progress in remote patient monitoring technologies.

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Which key drivers are propelling the video telemedicine market’s growth?

Chronic diseases’ increasing prevalence is anticipated to drive the video telemedicine market’s expansion in the future. Chronic diseases are persistent conditions that can usually be managed but not fully cured. Telemedicine proves to be a significant tool in chronic disease management as it improves healthcare accessibility, lets remote monitoring and self-management, enhances patient and healthcare provider communication, and boosts disease management results. For example, the World Health Organization’s (WHO) 2022 Highlights, a Switzerland-based intergovernmental health organization, reported in September 2022 that there have been 41 million deaths – accounting for 74% of all global deaths – caused by Noncommunicable diseases (NCDs) or chronic diseases annually. These include 17.9 million deaths due to cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Consequently, the video telemedicine market is expected to be driven by the increasing prevalence of chronic diseases.

What are the market segments in the video telemedicine industry?

The video telemedicine market covered in this report is segmented –

1) By Component: Services, Hardware, Software

2) By Application: Neurology And Psychiatry, Cardiology, Orthopedics, Dermatology, Radiology, Gynecology, Oncology, Dentistry, Pathology

3) By End User: Home Care Services, Hospitals, Clinics, Other End Users

Subsegments:

1) By Services: Real-Time Video Consultation, Remote Patient Monitoring, Telepsychiatry, Teledermatology, Teleradiology

2) By Hardware: Cameras, Microphones, Monitors, Video Conferencing Equipment, Telepresence Robots

3) By Software: Video Conferencing Software, Electronic Health Record (EHR) Integration Software, Patient Management Systems, Remote Monitoring Applications, Security And Compliance Solutions

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Which leading companies are shaping the growth of the video telemedicine market?

Major companies operating in the video telemedicine market include Huawei Technologies Co Ltd., Sony Corporation, Cisco Systems Inc., Siemens Healthineers AG, Logitech International S.A., Teladoc Health Inc., Poly Inc., GoodRx Holdings Inc., Vonage Holdings Corp, Doximity Inc., Included Health LLC, American Well Corporation, 23andMe Holding Co, Talkspace Inc, LifeSize Communications Inc, MDLIVE Inc, GlobalMed Inc., PlushCare Inc, MeMD LLC, AMD Global Telemedicine Inc., Sesame Inc, 98point6 Technologies Inc., Vermont Telephone Company Inc., HealthTap Inc, CirrusMD Inc., Vidyo Inc., VSee Lab Inc., eVisit Inc., Visionflex Pty Limited, Techmedic International B.V.

What key trends are currently impacting the video telemedicine market’s development?

The video telemedicine market is witnessing a surge in the trend of technological innovation. To establish a competitive edge and solidify their stance in the market, prominent businesses are focusing on the introduction of novel technologies. For example, in July 2023, the Epic Video Client telemedicine platform was launched by Samaritan Health Services Inc., a U.S-based innovator and provider of quality healthcare. This platform provides a unique approach to updating clinical paperwork, initiating secure video consultations, and querying patient histories in the Epic electronic health records system. Furthermore, it facilitates the addition of family members and translators to a patient’s telemedicine appointment.

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Which geographic areas are influencing the growth of the video telemedicine market?

North America was the largest region in the video telemedicine market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video telemedicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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