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Global Telemedicine Market to Reach USD 396.76 Billion in 2027 | Telemedicine Industry Size, Share, Growth & Forecast

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Pune India, Nov. 30, 2021 (GLOBE NEWSWIRE) — The global “telemedicine market” is set to gain momentum from the introduction of artificial intelligence (AI)-powered booths in local malls. The system can dispense over 100 medications from a smart medicine cabinet. This information is given by Fortune Business Insights™ in a new report, titled, “Telemedicine Market Size, Share & COVID-19 Impact Analysis, By Type (Products and Services), By Modality (Store-and-forward (Asynchronous), Real-time (Synchronous), and Others), By Application (Teleradiology, Telepathology, Teledermatology, Telecardiology, Telepsychiatry, and Others), By End User (Healthcare Facilities and Homecare), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 41.63 billion in 2019. It is projected to grow from USD 79.79 billion in 2020 to USD 396.76 billion in 2027 at a CAGR of 25.8% during 2020-2027.

COVID-19 Pandemic to Affect Growth Positively Fueled by Need to Prevent Transmission

The COVID-19 pandemic has caused a burden on healthcare workers because of the rising number of coronavirus positive patients. It is therefore resulting in the postponement or cancellation of non-essential appointments and elective surgeries to ensure safety of clinicians and patients. Telemedicine has come to the rescue by offering digital health services so that doctors can easily connect with their patients from home. We are providing detailed research reports to aid our clients get the best insights into the market.

Request a Sample Copy of the Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/telemedicine-market-101067

Rising Cases of Chronic Diseases to Accelerate Growth

As per CMS, the healthcare expenditure reached USD 3.6 trillion in 2018 in the U.S., alone. It revealed a surge of 4.6%. This shows that out-of-pocket expenditure and the rising incidence of chronic diseases have bolstered the healthcare cost. Besides, the increasing usage of teleconsultations and digital technologies would augment the telemedicine market growth in the near future.

Teleconsultation services are cost-effective and aid healthcare professionals to save time. Hence, governments of various countries are trying to implement telemedicine services in their healthcare infrastructure. However, the lack of skilled healthcare professionals may hinder the demand for this time of medicine.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

https://www.fortunebusinessinsights.com/industry-reports/telemedicine-market-101067

Services Segment to Dominate Stoked by Rising Adoption of Virtual Diagnostics Services

Based on type, the services segment is likely to remain at the forefront throughout the forthcoming years because of the rising deployment of e-consultation services in hospitals worldwide. The Merritt Hawkins Survey stated that the average waiting time for dermatological consultations in the U.S. increased to 32.2 days in 2017 from 28.8 days in 2014. The declining number of dermatologists is expected to raise the adoption of remote and virtual diagnostics services, thereby boosting the segment’s growth.

Increasing Teleconsultations to Favor Growth in North America

In 2019, North America generated USD 17.90 billion in terms of the telemedicine market share. This growth is attributable to the presence of several prominent players, such as MDLive and Teladoc in this region. At the same time, the rising teleconsultations and the robust support from government agencies would propel growth in this region.

In Europe, the increasing usage of digital health owing to the implementation of favorable guidelines by government bodies would aid growth. The region is expected to retain its second position in the upcoming years backed by the surging cases of chronic diseases. The British Skin Foundation, for instance, mentioned that every year, the U.K. showcases around 100,000 new cases of skin cancer.

Quick Buy –  Telemedicine Market

https://www.fortunebusinessinsights.com/checkout-page/101067

Key Players Focus on Partnerships & Acquisitions to Broaden Their Product Lines

The global market for telemedicine houses numerous renowned companies that are mainly focusing on partnership and acquisition strategies. They are doing so to expand their product portfolios and to gain a large consumer base. Below are the two latest industry developments:

  • March 2020: VivaBem joined hands with Doktor.se to raise approximately USD 2.5 million. The fund will help them to refine its existing products by integrating the Doktor.se’s AI-driven technology. It will further improve the user experience for health and wellness services, chronic care management, and telemedicine.
  • January 2020: Teladoc Health acquired InTouch Health to deliver its product offerings to the latter’s clients in more than 450 hospitals. It will also help Teladoc to enhance patient experience in home care, ambulatory care, and acute care settings.

A list of all the renowned service providers operating in this market:

  • American Well (Boston, U.S.)
  • MDLIVE Inc. (Sunrise, U.S)
  • Teladoc Health Inc. (Purchase, U.S.)
  • Doctor on Demand Inc. (San Francisco, U.S.)
  • MeMD (Arizona, U.S.)
  • Encounter Telehealth (Nebraska, U.S.)
  • Global Med (Arizona, U.S.)
  • SnapMD (California, U.S.)
  • Other prominent players

Ask for customization

https://www.fortunebusinessinsights.com/enquiry/customization/telemedicine-market-101067

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Fortune Business Insights™ Pvt. Ltd.

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Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

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Email: [email protected]

Press Release:

https://www.fortunebusinessinsights.com/press-release/telemedicine-market-9214

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Artificial Intelligence

Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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