Telemedicine Market Growth | Size | Share | Forecast to 2022

The global telemedicine market was valued at $17,878.7 million in 2015, and it is expected to grow at a CAGR of 18.7% during 2016 - 2022. Among the various services, the tele-monitoring segment is expected to witness the fastest growth during the forecast period, at a CAGR of 21.8%. The global telemedicine market is growing at a significant rate, due to growing geriatric population, increasing healthcare cost, increasing government funding and grants for telemedicine, and increasing prevalence of chronic and lifestyle associated diseases.

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Telemedicine services are used in several medical areas, such as pathology, cardiology, radiology, genetics, diabetes control, psychiatry, and primary healthcare. The deployment of telemedicine services has significantly changed the healthcare services, due to various technological innovation in the field of medical device and services.

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Geographically, North America dominated the global market of telemedicine in 2015; whereas the Asian market is expected to witness the fastest growth at a CAGR of 25.7%, during the forecast period.

Some of the key companies operating in the global medication management market include LifeWatch AG, Aerotel Medical Systems Ltd., InTouch Technologies Inc., AMD Global Telemedicine Inc., OBS Medical Ltd., Cisco Systems Inc., Cerner Corporation, Allscripts Healthcare Solutions Inc., McKesson Corporation, Honeywell Life Care Solutions, Koninklijke Philips N.V., BioTelemetry Inc., Medtronic PLC, Polycom Inc., and General Electric Company.