Telemedicine – Diagnosis on fingertips

Telemedicine – Diagnosis on fingertips
Telemedicine – Diagnosis on fingertips

Telemedicine is the diagnosis and treatment of patients administered remotely through telecommunications. The telemedicine market is valued at US$ 60 billion in 2020, and projected to grow 18.2% annually between 2021 and 2027.

The ongoing pandemic has positively impacted this market as teleconsultations, especially video consultations, witnessed a surge in demand. Doctors are adopting telemedicine to adhere to social distancing restrictions as well as to lower their chances of getting infected or infecting others.

The telemedicine market is expected to witness revenue growth due to the rising need for patient management, increasing number of patients with chronic diseases and growing number of smartphone users. Other factors include expanding telecommunication networks, technological advancements related to the Internet, government funding and reductions in healthcare expenses.

How can healthcare service providers and telecommunication companies collaborate to capture the telemedicine market?

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Marie Teo
Manager, Group Marketing Communications
Spire Research and Consulting
Phone: (65) 6838 5355
E-mail: marie.teo@spireresearch.com