Telemedicine Market to Reach More than $320B by 2030, According to a Recent Report
- Growth Plus Reports predicted a compound annual growth rate of 18.9% between 2022 and 2030 in the telemedicine market.
- Telemedicine helps to bridge the gap between patients and physicians.
- COVID-19 pandemic and rising government initiatives have further fueled the telemedicine industry.
The telemedicine market is expected to hit $324.38 billion by 2030, according to a new report from Growth Plus Reports.
Telemedicine has experienced a swift growth in the market in recent years and it is forecasted that it will continue growing. The significant contribution to the growth of this market is attributed to the COVID-19 pandemic and more government programs designed to support this type of healthcare delivery.
The adoption of this branch of e-health helps to bridge the gap between patients and physicians while allowing physicians to take better care of patients even remotely. Additionally, it can support healthier and higher revenues by enabling medical professionals to attend more patients.
Read more about telemedicine and how you can improve the way you deliver care with telemedicine on our blog 5 Tips to Optimize your Telemedicine Appointments.
Here are some key findings of the Telemedicine Market report:
- The telemedicine market size value in 2021 was of $68.3B.
- The report predicted a compound annual growth rate of 18.9% between 2022 and 2030 in this market.
- The global telemedicine market is mainly driven by rising cases of various chronic illnesses and convenient access to healthcare services.
- North America held the largest market share of the global telemedicine market.
- Rising government initiatives and public awareness among the population have further fueled the telemedicine industry.
Telemedicine has gone from being a side feature of the healthcare system to an expectation. The future of this healthcare delivery system looks bright.
Physicians and other medical professionals can see this as an opportunity for their practices to implement telemedicine, if they haven´t done it, and optimize their telemedicine approach to improve patient care, prioritize appointments, and increase revenue.
Read more in our article Telehealth Services Explode, Making a Case for Hybrid Health Care (ahsrcm.com)