Global Telemedicine Market Worth USD 40.9 Billion by 2021

Global Telemedicine Market Worth USD 40.9 Billion by 2021- Key Players are GE, Phillips & Honeywell- Research and Markets

The aging world population has caused a surge in need to expand the reach of healthcare services in rural and remote areas. As the number of individuals requiring healthcare grows government initiatives are developing to cut down medical expenses and increase the reach of quality healthcare to all those in need. Because of this surge, the global telemedicine market has expanding to a Compound Annual Growth Rate (CAGR) of 14.77% to reach USD 40.9 Billion by 2021, increasing from USD 17.9 Billion in 2015.

North American has the highest market size, currently followed by Asia-Pacific and European markets. “Owing to factors like affordable care act, ICD-10 implementation, reimbursement and incentive plans for physicians, the U.S. is anticipated to exhibit a CAGR of 15.58% from 2015-2021” according to Business Wire.

In order for the expansion to continue, proper legislation and regulations must be in place. Growth of the telemedicine market could be halted if companies do not follow appropriate laws and regulations to keep telemedicine safe for all involved.

CTeL is a valuable resource for companies to tap into to ensure they are performing telemedicine in the most effective and legal ways possible. Contact CTeL at info@ctel.org or at 202.499.6970 today to access the highest quality information available about effective telemedicine.

For more information on the Business Wire article on telemedicine click here. 

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