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In this article, you will read about telemedicine market trends and get insights regarding telemedicine's future, considering the industry's current state. We will share our expertise in telemedicine app development.
The global telemedicine market is booming. In 2020, 38% of US citizens used telemedicine at least once. In the pandemic world, telemedicine has become one of the basic medical services.
‘Telepsychiatry especially helps those facing barriers such as lack of transportation, the inability to take time off work for appointments, or family responsibilities.’
Yet, in a pandemic world, telemedicine has become one of the key services that cover the needs of a bigger number of people. There's no more need to go to the hospital – it’s possible to consult your therapists via an online connection.
Read also: Psychological Therapy App Development
Apps for physicians, patients, EHR integrations have become much more popular. Hospitals choose remote consultations of the patients, and the patients support them.
However, the development of a telemedicine app may still be one of the biggest challenges for a hospital or medical center. The matter is that there are almost no development companies that have expertise in building such apps.
Softermii is one of a few that have successfully launched different types of telemedicine apps, including applications with real-time video consultations, appointment scheduling and reminders for doctors and patients, and communications and video conferencing app for accessible healthcare and medical advice. We follow telemedicine market trends, so projects created by our company are exceptional and modern.
Telemedicine Market Statistics: Key Insights & Adoption
The growth of the telemedicine market started in the 2000ies, and in 2019 it was valued at $49.9 billion. It is estimated that the number will reach $194.1 billion by 2023 – and an astonishing $459.8 billion by 2030.
Telemedicine was affected by multiple factors, including the rise of technologies in general and the Covid-19 pandemic that changed the healthcare industry to the core.
82% of customers experienced telemedicine for the first time since the start of Covid-19.
Telemedicine adoption in regions and growth projections
You can see the phenomenal growth of telemedicine in different regions. The US remains to be one of the leading regions for telemedicine development.
Europe is also experiencing a new telemedicine era: 71% of Italian healthcare providers use telemedicine; in Nordic countries, this number reaches 55%, and 54% in Austria.
There is no need to say that telemedicine will continue its growth, supported by the leading software developers.
Current Telemedicine Market Trends
According to research by Mordor Intelligence, the telemedicine market is poised to grow from the current approximately $38 billion with a CAGR of 28% to reach $168 billion in 2026.
The telemedicine market trends market is divided into three main segments by the source of healthcare: Telehospitals, Telehomes, and Mobile Health. All three niches of the industry are expected to grow.
Telehome, also known as Telehomecare, is an industry term for home-administered healthcare and health monitoring. It's one of the largest telemedicine trends of the past year.
The largest market driver boosting this trend is the growing number of chronic diseases — 133 million Americans have at least one. This need for better, more comprehensive continuous treatment, combined with technological innovations, result in new services being offered and more patients expecting convenience in the services offered to them.
At the same time, more Americans in rural areas, the ones who have the most difficult time accessing quality care locally, have reliable connections to the internet that allow them to receive this type of care.
‘Offerings like remote patient monitoring and asynchronous communication, initially considered as “nice-to-haves,” are becoming standard offerings as healthcare providers see their value for continuous care beyond Covid.’
‘Hyperlocal medical care will also move towards more of a telemedicine care team experience. Patients that are homebound families with young children or people that just recently had surgery can now get instant care when they need it.’
Millennials total 72 million in the US and range in age from 25 to 40. They were the highest-spending generation in 2020, but research shows that those aged 18-34 are most likely to save instead of a splurge when it comes to health and wellness.
Together with Gen Z, the oldest of whom are in their mid-twenties, their number grows to 140 million. As the most tech-friendly and tech-savvy generations on the lookout to save and receive more convenient services, they present a unique market for telehospitals to increase further, and it's likely to stay one of the top telehealth trends for 2021 and beyond.
‘As provider organizations plan for telehealth in 2021 and beyond, we are going to have to expect and deliver a secure, scalable infrastructure, a streamlined patient experience and an approach that maximizes provider efficiency, all while seeing much-needed vendor consolidation.’
3. Mobile Health
One of the largest telehealth industry trends, in general, is making health more accessible. Mobile healthcare is perhaps the broadest term in the telehealth industry, encompassing everything from apps that help users conduct breathing exercises to connecting to healthcare professionals directly and more.
The most significant market driver boosting Mobile Health is the popularity of smartphones and tablets.
Moreover, smartphones are becoming smarter and can do more things, including connect to more medical devices, consolidate that data, and send them to doctors or even synthesize a likely diagnosis.
‘By the end of 2021, virtual care paths will be fairly ubiquitous across the continuum of care, from urgent care and EDs to specialty care, all to serve patients where they are – at home and on mobile devices.’
4. Chronic care management
Chronic care management is one of the biggest trends that are changing telemedicine. According to the latest research, chronic diseases are the leading cause of death worldwide. Thus, telemedicine needs to take this issue under control.
Management of chronic care via telehealth reveals new opportunities for the healthcare industry. For example, cost reduction and patient engagement. In return, this will cause better control over chronic diseases and a decreased number of deaths.
5. Focus on mental health
With the Covid-19 situation worldwide, the approach to telemedicine has changed. The biggest changes are noticed with mental health practices.
Statista demonstrates impressive numbers: 70% of Nordic healthcare providers have implemented telemedicine for mental services. In Spain, this number reaches 53%. It proves that telehealth is not only an American trend but a global one.
6. Improved UX
With the quick growth and development of the industry, the customers expect that the design of the apps will become better. Improved UX of telemedicine applications has been one of the biggest telehealth market trends in 2022, and it will still become trendy in 2023.
Clear navigation, necessary features depending on the role of the customers, quick access to key features: it’s vital to follow industry best practices and implement the newest approaches.
Key Telemedicine Future Trends to Know
The growth of telemedicine presupposes a rapid growth of existing trends and the development of new ones. Here are the telehealth industry trends that will keep changing the industry shortly.
1. IoT and IoMT
The Internet of Things is nothing new, and collecting health data using an external device isn't, either. But a growing telehealth market trend is about connecting more devices within a specific goal of improving health, such as glucose monitors, nutrition monitors, mobility data, etc.
It enables healthcare professionals to make better decisions using a wider array of accurate and up-to-date data. It's not necessarily a new way to serve healthcare that Telemedicine purports to be, but rather an enhanced way of facilitating healthcare administration.
2. Artificial Intelligence, Machine Learning, and Big Data
The full potential of AI and ML is yet to be found, especially as they concern healthcare. This trend in telemedicine will continue to grow and develop well into the future. This technology is currently being deployed for pandemic detection, thermal screening, CT scan analysis, stroke prediction and prevention, and more.
And with the advent of Big Data, solutions that can identify viable health trends and perform forecasting based on telehealth statistics will pave the way for in-depth research providing previously unavailable insights into society’s healthcare needs.
3. AR and VR
These technologies show promise to benefit patients dealing with serious health issues, including helping stroke victims overcome their limitations and supporting patients with dementia or cognitive impairments. Robotic surgery is another area of healthcare that benefits from augmented reality technology. The field is expected to experience substantial growth in the next few years and reach almost $15 billion by 2027.
4. EHR-embedded Solutions
Embedding a patient’s electronic health record (EHR) in telehealth solutions is important to use the information productively. Telemedicine statistics indicate that a minority of hospitals and healthcare systems are currently integrating their EHR systems with telehealth solutions making this a promising field for software developers.
As it stands, the issue of security is one of the larger ongoing telemedicine future trends right now, and EHR integration is a massive piece of the puzzle. The security of individuals’ health-related information will become more important as EHR-embedded solutions become more widely available. Applications need to be built to prioritize data security to protect sensitive information.
A significant reason for the reluctance to use telemedicine solutions is the perception of the lack of security, propelled by the recent deluge of news related to security breaches.
It's a telecommunications standard used internationally to facilitate data transfers between healthcare applications at all levels, including healthcare administration programs.
6. Internet of Behaviors
Gartner coined this term in their 2021 telehealth trends report. IoB goes one step beyond ML, AI, and Big Data to combine information from various sources, including behavioral data from internet usage and more, to develop recommendations for better health choices for the end-user.
Similar existing algorithms in social media, digital advertising, the insurance industry, and the banking system have shown that human behavior can be predicted and changed significantly. And improving human behavior is the key to improving health.
7. Integrated data sharing
A customer should have an option to visit any hospital, doctor, or pharmacy and get the same level of service. For the healthcare industry, it’s vitally important to track and control all information, from the latest treatments to the operations and diseases.
Integrated data sharing allows collecting this information and making it available for all hospitals and clinics. Therefore, a customer does not need to provide this data every time they have an appointment with a new doctor.
8. Remote monitoring
Remote monitoring reduces the number of offline visits to the hospital or clinic and still controls the patient's health.
Remote monitoring may use wearable technology to control basic life indicators. Yet, the most important thing is that remote monitoring allows you to share this information with your therapist. Therefore, you can get treatment when your therapist notices changes in your indicators.
9. Investment in technology
The biggest future trend in telemedicine is investing in technology. Clinics, hospitals, and pharmacies are ready to spend more on telehealth development, but the situation will change in the near future.
The budgets are growing, as well as customer expectations are increasing. If you plan to actively use telemedicine, be ready to invest in the newest technologies.
How COVID-19 Changed Telehealth
As we have already mentioned, Covid-19 was one of the key factors affecting healthcare in general, particularly telemedicine. Basically, we can define two aspects that have changed: the growth of telehealth during the pandemic and the number of customers who have used telemedicine for the first time since the pandemic.
Development of telehealth during the pandemic
Just compare: from 2018 to 2019, the growth of telemedicine was 18%, while 2019 to 2020 showed 35%.
In March-April 2020 (the pandemic's beginning), traffic volume in this field increased by 158%.
Customers first heard or used telemedicine
Hong Kong surveys showed that 89 % of customers first heard about telemedicine due to Covid-19. Earlier, telemedicine was an option provided by some hospitals only, and customers preferred offline appointments with their therapists. However, the pandemic changed the landscape.
Indeed, Covid-19 has become the driving force of telemedicine. Today, when the pandemic persists, telemedicine becomes more demanding. Therefore, the industry keeps growing.
Softermii’s CEO Takeaway
If you take away one thing from our telehealth market forecast, let it be this: the industry is walking in seven-league boots. Industry insiders are predicting that by the end of 2021, telehealth may already be a crucial element in the overall experience of providing telehealth. In the future, the two terms may be indistinguishable from one another.
Telehealth statistics concerning usage and adoption rates are impressive. After the Covid-19 pandemic has forced users and organizations up the adoption curve, the best time for businesses that want to get in on the growing trend was yesterday, and now is the second-best.
New and existing businesses that want to capitalize on current technology trends in the telehealth industry need an experienced partner to guide them through the intricacies of such development.
Softermii has the necessary experience to bring your idea to market. We have a proven track record of success, as seen in these case studies highlighting our work on the HIPAA Video and MedRealtime projects.
Partnering with developers experienced in building solutions for the healthcare industry is a great strategy for companies breaking into the lucrative telehealth market. They will have already addressed many of the issues that will materialize during product development and streamline project completion.
HIPAA Telmed is our telemedicine application that helps conduct video conferences and ensures better communication between patients and doctors.
Development of an application that improves communication and reduces healthcare costs in the US and the entire world. Implementation of legacy technologies to create a HIPAA-compliant app.
Read also: Cost of Telemedicine System
Implementation of WebRTC, TSL, TDL and Role-based Authorization technologies allowed us to comply with all HIPAA regulations and create multi-peer video connections for video conferences.
- Full-HD real-time video streaming;
- HIPAA compliance;
- Portable device compatibility;
- Security encryption of all data;
- Appointment scheduling features;
- Whiteboard functions
- Read more here
MedRealtime is an online application developed by Softermii that helps to host real-time video consultations, schedule appointments, and send reminders for doctors and patients.
The development of the application simplifies appointment booking and payments for consultations while making data management effective for physicians. Optimization of hospital workloads. Creative, efficient solutions for patients and doctors.
Implementation of the latest technologies helped create an HD-video conferencing platform for private and secure video consultations, integrated messaging, online & offline appointment booking with real-time synchronization of the doctor calendar, and automated reminders.
- Map integration
- Secure video and a messaging room built-in NAT, Firewall, and encrypted protection
- Only PIN-access
- Secure payments gateway
- Synchronization of the platform with other internal office solutions
- Read more here
The pandemic world has changed the way we can approach our therapists. Today, we all are ready to use mobile apps and online services to approach our physicians. Telemedicine has brought online communication to the next level.
Yet, it's important to work with professionals to develop online telemedicine services. Softermii is one of a few companies that already have experience developing video conferences for eHealth, and we will gladly use our expertise in developing your project.
Frequently Asked Questions
Telemedicine is going to be the main trend in the next few years. Telemedicine statistics for 2022 prove that. However, there are still some questions that appear when talking about telehealth. We are going to answer some of the most popular of them.
In 2019, the value of telemedicine was almost $50 billion. However, telehealth growth statistics indicate that this number will soon reach $194.1 billion. Year by year, the value of the market is growing, and there’s no doubt: it will keep growing faster and more intensively.
The growth of the industry is supported by telemedicine market trends that are rapidly developing and growing, interest in the industry itself, and rapid growth of online applications.
Telemedicine growth statistics also demonstrate the growth in telemedicine segments. According to virtual healthcare trends, teleradiology, telepathology, telecardiology, telepsychiatry, telemonitoring, and teledermatology keep growing. For sure, these are the emerging trends in telemedicine.
It seems that telemedicine was created to disrupt the common healthcare industry. There’s no need to visit your cardiologists to understand what’s going with you: everything can be done online.
As telehealth growth statistics show, by the end of 2023, this number will reach over $194 billion. Still, growth projections can be adjusted as the industry demonstrates rapid growth.
If we compare telemedicine trends for 2022 and 2020, we will see a huge difference. Industry analysis shows that Covid-19 had a huge impact on telemedicine, and obviously, it will still change it.
North America has a great demand for introducing a tele-intensive care unit. The level of disruption here is impressive: in 2019, North America’s market value was $17.9 billion, which is almost a third part of the whole market size.
In North America, predominantly in the US, the telemedicine technologies and services market demonstrates impressive growth.
Telemedicine's future trends are driven by the rapid growth of technology and Covid-19. The telemedicine technologies market has collected the world's newest and most effective approaches.
Telehealth trends in the healthcare industry prove that telemedicine is the first industry that experiments with those innovations when the online development market changes.
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