Video Telemedicine Market Size is set to exhibit substantial value trajectory between 2023 and 2032 led by the rapid digitization of the healthcare sector.
The notable rise in the deployment of mobile technologies, rapid penetration of smartphones, and favorable government initiatives to support telemedicine trends will complement the industry outlook. The advent of telehealth has been further amplified by the increasing developments in real-time consultation allowing patients and doctors to communicate at convenience.
Additionally, the COVID-19 pandemic helped the transition from conventional healthcare services to at-home online consultations. With the aim of preventing the spread of the virus, several public initiatives were undertaken to encourage the adoption of telehealth services.
Based on communication technology, the 4G technology segment is poised to hold a significant share in the video telemedicine market by 2032. The ongoing developments in advanced internet technologies and the presence supportive regulatory frameworks will augment the adoption of video telemedicine. Furthermore, 4G wireless communication technology is gaining significant momentum since it allows access to high-speed internet connectivity.
In terms of applications, the video telemedicine industry share from the gynecology segment is set to record substantial progress over 2032. Video telemedicine helps ensure superior quality postoperative care whilst adhering to the privacy and security of data. The growing concerns associated with gynecological complications during procedures such as C-sections are also driving the demand for adequate telehealth services. Video telemedicine is increasingly used in maternal-fetal medicine practices, particularly during the pandemic to prevent the infection spread while protecting infant and maternal health.
North America video telemedicine market size is poised to achieve substantial revenue gains through 2032 owing to the hefty investments in the healthcare infrastructure. Several insurance providers in the region, for telehealth and telemedicine services are working on providing affordable care to all. For instance, in May 2022, the Department of HHS announced funding of USD 16.3 million to support 31 grantees for the expansion of telehealth infrastructure. The initiative focuses on Title X family planning clinics across 26 U.S. states.
A large number of initiatives were implemented during the COVID-19 pandemic across the U.S. and Canada to reduce the growing burden of the healthcare sector and fulfill the rising needs of patients.
Some of the major companies in the global video telemedicine market include Logitech International, Cisco Systems Inc., Polycom (Plantronics), AMD Global Telemedicine, Huawei Technologies Co Ltd. (Huawei Investment & Holding Co., Ltd.), Vidyo Inc. (Enghouse Systems Ltd), Vermont Tel, GlobalMed Inc., Life-Size Communication Inc., Premier Global Services Inc., and VSee lab Inc.