Telemedicine Market to Reach USD 121.17 Billion By 2027 | CAGR:14.9% | Reports And Data
Author: admintech | Filed under: WorldAccording to a new report by Reports and Data, the global Telemedicine market is forecasted to reach USD 121.17 billion by 2027. Telemedicine is experiencing prospective opportunities in the field as rising adoption of IT in healthcare domain, rising geriatric population, increasing prevalence of target diseases and majorly the advantage of maximum reach in case of different medical crisis such as pandemic outbreak of COVID-19 or untapped target of population (rural areas or bedridden patients). Geriatric population is rapidly rising across the globe, and Europe and North America have the highest share of population with age of over sixty-five years and above. Telemedicine is emerging as crucial part of pandemic hit world, to remotely address many common medical conditions that are reflected among the old population such as Parkinson’s, diabetes, cardiovascular diseases, high blood pressure, and high cholesterol, arthritis and many more. According to the United Nations, in 2050, geriatric population are expected to account for 35% of the population in Europe, 28% in Northern America, 25% in Latin America and the Caribbean, 24% in Asia, 23% in Oceania and 9% in Africa. Traveling to hospitals for visits and unfamiliar environment of hospitals leads to non-compliance of patients to follow ups. Thus, tele-visits and telemedicine help in such situation to provide services remotely at their familiar environment.