Telemedicine Market Share

Regionally, the telemedicine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America industry is estimated to dominate majority revenue share by 2037, on the back of a higher prevalence of chronic diseases, and growing geriatric population. Moreover, requirement to decrease the healthcare expenditure, and rising patient pool in the hospitals backed by advancement in awareness of health, are anticipated to boost the market growth. Additionally, the rising inclination toward the virtual meeting of the population in the region is also anticipated to boost the growth of the market in North America during the forecast period. According to a report published by National Health Council, about 133 million Americans, 40% of the entire population suffer from some sort of chronic disease. A rising prevalence of chronic diseases can be observed in the region. Data provided by the Centers for Diseases Control and Prevention stated that six out of ten Americans have at least one chronic disease. Furthermore, people in North America are more aware of their health and pay frequent visits to hospitals, in such circumstances, telemedicine can be very useful since it avoids in-person visits to the doctors. Such factors are anticipated to influence the market positively over the forecast period in the region.