The telemedicine cart market is expected to capture prominent growth given to rapid technological developments in telemedicine services.
The telemedicine cart market is expected to capture prominent growth given to rapid technological developments in telemedicine services. Telemedicine carts help medical practitioners to offer remote consultation services. With new technologies entering the market, telemedicine carts are becoming increasingly sophisticated.
Latest variants of these carts now come with additional features like oxygen saturation, advanced imaging solutions, and sensors for pulse rate. This could enhance the adoption of new telemedicine carts over the forthcoming years. Based on these aspects, Global Market Insights, Inc., estimates that the telemedicine cart market could cross USD 1.5 billion by the year 2026.
These new innovations are ensuring more accurate diagnoses, thereby enabling professionals to deliver precise consulting. Remote consultation comes as a great option for patients that are looking to save money and time as well as are looking to refrain from taking long commutes. This might also help in lowering overall healthcare expenses.
In the United States alone, per capita healthcare expenditure was recorded over USD 10,000. With the adoption of telemedicine services, this figure is likely to go down. Rising need to reduce overall healthcare expenses could thereby subsequently drive the demand for telemedicine carts.
Escalating requirement from home-care facilities -
Growing consumer inclination towards affordable medical features and home healthcare associated with remote consulting could fuel the need for telemedicine carts across home-care units. Earlier in 2019, the home-care segment had attained a valuation of USD 51 million and is currently anticipated to maintain steady growth over the predicted timeframe. Apart from the home-care setting, these devices are also used in clinics, hospitals, and specialty centers.
To access sample pages of this report titled, “Telemedicine Cart Market Size By Product (Single Display Cart, Dual Display Cart), By Operation (Powered {LiFe Powered Carts, SLA Powered Carts}, Non-powered), By Lift Technology (Manual, Electronic), By End-use (Hospitals, Clinics, Specialty Centers, Home Care Settings), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents, please click on the link below:
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Lucrative opportunities across the US -
Strong presence of key telemedicine cart market players coupled with increasing healthcare expenditure could accelerate the demand for telemedicine carts across the United States. Estimates suggest that the regional telemedicine cart market could see remarkable growth of 21.2% by the end of 2026.
A major section of the US population is living in remote areas. As a result, several federal agencies are offering huge grants to promote the adoption of telemedicine services. Citing an instance, the USDA offered the University of Washington (UW) School of Dentistry a $1 million Distance Learning and Telemedicine Grants (DLT) to overhaul infrastructure for teledentistry in rural Montana and Washington.
Adoption of profitable business strategies -
Established industry players like American Well, Poly, Parsys, AMD Global Telemedicine, InTouch, Ergotron, and GlobalMed are expanding their market presence and consumer base by adopting numerous growth strategies like private funding, product innovations and marketing campaigns. Taking December 2020 for instance, Story Health, a prominent healthcare firm that focuses on developing virtualized specialty care systems, revealed that it has received $4 million in seed funding from Define Ventures and General Catalyst to expand its production capabilities. Story Health helps specialty clinicians by providing easy-to-use digital tools for better patient results.
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