The global telemedicine market is expected to grow at a compound annual growth rate of 15.3 percent through 2022, according to Wise Guy Research Consultants report.
Here are five market trends:
1. The global telemedicine market size was valued at $19.3 billion in 2015.
2. It is expected to grow to $52.3 billion by 2022.
3. Market drivers include technological innovation, increase in remote patient monitoring, growing treatments for the geriatric population and shortage of physicians.
4. Uneven distribution of telecom network in remote areas, high operating costs as well as a lack of infrastructure may limit market growth.
5. North America is leading the market for telemedicine due to the high adoption of technology.