Latin America
Telemedicine Market Size and Growth Rate:
Latin America
Telemedicine Market was valued at USD 3.1 billion in 2018 and projected to
reach USD 11.9 billion by 2025 growing at a CAGR of 21.78% during the forecast
period 2018 to 2025.
Drivers, Challenges
and Opportunities:
The main factor responsible for the growth of the
telemedicine market in Latin America is the evolution of the socio-economic
factors that represent the highest proportion of the digital population,
compared to other desirable policies and regions. Another main driver of the
market is the high incidence of chronic diseases and the demand for
self-management that is growing stronger. In addition, increased demand for
Internet applications, virtual medicine and centralized healthcare is expected
to reduce costs and is one of the key success factors for growth of the
telemedicine market in Latin America during the forecast period.
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However, some factors are holding back growth of this
industry such as the increased initial capital, inadequate examples of remote
medical care, inappropriate compensation policies, and lack of skilled resources.
But the technological improvements to improve health services are expected to
create new growth opportunities for the telemedicine market in Latin America in
the future.
Geographic
Segmentation:
Based on geography, the Latin American market for
telemedicine is segmented across the regions of Brazil, Mexico and the rest of
Latin America. Brazil is expected to post a high growth rate due to the
increase in population and the incidence of chronic diseases.
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Some of the Leading
Companies Profiled in this Latin America Telemedicine Market are: Medtronic, Inc., McKesson Corp., AMD Global
Telemedicine, GE Healthcare, Aerotel Medical Systems, Honeywell Lifesciences,
CISCO Systems, Philips Healthcare, CardioComm, Cerner Corporation. Other
companies in the Latin American market include 3M, Robert Bosch Healthcare,
Polycom Corp., Hoffmann-La Roche Ltd., Snap®, InTouch Technologies, Inc., OBS
Medical Ltd., Siemens Healthcare, Agfa Healthcare NV, Biotelemetry, Inc., and Allscripts
Healthcare Solutions.
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