Juniper Research: Telemedicine to Save Healthcare Industry $21 Billion Globally by 2025; Driven by Teleconsultation Services

BASINGSTOKE, England--()--A new study by Juniper Research has found that telemedicine will save the healthcare industry $21 billion in costs by 2025; rising from $11 billion in 2021. This represents a growth rate of over 80% in the next four years. The concept of telemedicine involves the remote provision of healthcare services and includes technologies such as teleconsultations, remote patient monitoring and chatbots.

The research identified teleconsultations, a service that enables patients and physicians to interact remotely, as a key service that will enable these significant savings. However, it cautioned that savings would be restricted to developed nations where access to required devices and Internet connectivity is prevalent. As a result, it predicted that over 80% of savings will be attributable to North America and Europe by 2025.

For more insights, download our free whitepaper: The Doctor is Always In: How Teleconsultations Improve Patient Care

Deregulation of Telemedicine Needed to Maximise Growth

The new report, Telemedicine: Emerging Technologies, Regional Readiness & Market Forecasts 2021‑2025, estimated that over 280 million teleconsultations were performed in 2019, however, this rose to 348 million in 2020 owing to the COVID-19 pandemic. It anticipated that the activities of third party healthcare service developers will be crucial in accelerating the deployment of emerging telemedicine services and increasing the uptake amongst healthcare providers.

However, the report predicted that the significant investment into integrating telemedicine services and the requirement of data protection, such as HIPAA (Health Insurance Portability and Accountability Act) in the US, will discourage adoption amongst smaller healthcare providers. To foster the adoption of telemedicine services, it recommended that healthcare regulatory bodies continue to deregulate telemedicine services to minimise any remaining barriers to entry for smaller healthcare providers.

Research author, Adam Wears, remarked: “Any deregulation must ensure that patient confidentiality is not undermined. Additionally, we recommend that innovative and emerging teleconsultation services are integrated into existing healthcare technologies, such as electronic health records, to maximise their benefits to healthcare providers“.

Download the whitepaper: https://www.juniperresearch.com/whitepapers/how-teleconsultations-improve-patient-care

Telemedicine market research: https://www.juniperresearch.com/researchstore/key-vertical-markets/telemedicine-research-report

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Contacts

Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com

Release Summary

Telemedicine will save the healthcare industry $21 billion in costs by 2025, with teleconsultations a key service enabling these significant savings

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Contacts

Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com