Telemedicine Market Projected to Reach $35 Billion by 2020
A new analysis from Zion Research reports that in 2014, the global telemedicine market was worth about $14 billion; that value is expected to grow to $35 billion by 2020. That’s a CAGR (compound annual growth rate) of just over 14% between 2015 and 2020.
The report covers technologies ranging from patient interactions, such as consultation, care and even surgery, to applications including education and training. The research group examined both general and focused specialties including Internal Medicine, Emergency Care, Gynecology, Cardiology, Dermatology, Neurology, and Orthopedics.
In 2014, revenue was generated largely through tele-consultation services, but tele-monitoring will become more common due to the aging population. Three of the newer applications—tele-education, tele-training, and tele-surgery—will likely experience moderate growth between now and 2020.
It’s nice to see numbers, but the report confirms what we (and probably you) already knew: The telemedicine market is a rapidly-growing industry. Here at swyMed, we’re proud to offer a reliable, versatile tool that puts the focus where it should be—on the patient.
To access the report, visit http://www.marketresearchstore.com/report/telemedicine-market-z38555#ReportDetails.
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