The global telemedicine market is expected to reach USD 113.1 billion by 2025. Key drivers of the market include increasing incidences of chronic conditions and rising demand for self-care. Furthermore, enhancing application of internet, virtual medicine and rising demand for centralization of healthcare are expected to save on cost incurred, which is one of the critical success factors attributing for the growth of telemedicine market.
Virtual medicine is benefiting in reducing the emergency room visits and hospitalization rate, thereby augmenting the market growth. The telemedicine market is segmented on the basis of products, and region. The service offers prime channel for various providers to communicate on the same platform and thus, centralize all the available data.
Telemedicine products are distributed by direct supply contract amongst the manufacturers and end users or maybe concluded via a third party supplier. Government initiated healthcare programs across the nation are anticipated to propel the direct agreement method by conducting private bidding and voluntarily sponsorship by market players.