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Telemedicine market to grow at 18% CAGR through 2020: 4 insights Featured

Written by  Megan Wood | Friday, 13 October 2017 16:58
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Brandigo released its "State of Telemedicine Report Reassessed for 2018" white paper, analyzing the state of telemedicine.

The healthcare brand strategy consulting and marketing communications firm collected survey data in August as well as analyzed industry trends, evolving demographics and economic demand.

 

Here are four insights:

 

1. The telemedicine market is set to grow to $57.92 billion by 2020, up from $25.53 billion in 2015. This reflects a 17.85 percent compound annual growth rate.

 

2. By 2018, 96 percent of employers will provide their employees access to telemedicine services.

 

3. Patient confusion of telemedicine capabilities will prove a barrier to telemedicine growth. The company's Telemedicine Outlook survey revealed 50 percent of the respondents didn't know the term, "telemedicine."

 

4. Brandigo anticipates growth in the market if providers boost patient adoption and understanding of telemedicine.

 

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