A new Juniper Research study by has found that the practice of remote telemedicine will save the health care industry $21 billion in costs by 2025; rising from $11 billion in 2021. This represents a growth rate of more than 80 percent in the next four years.
The concept of telemedicine involves the remote provision of health care 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 percent of savings will be attributable to North America and Europe by 2025.
For more insights, download Juniper Research’s free whitepaper: The Doctor is Always in: How Teleconsultations Improve Patient Care
The 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 health care service developers will be crucial in accelerating the deployment of emerging telemedicine services, and increasing the uptake amongst healthcare providers.
However, the report predicted the significant investment into integrating telemedicine services, and the requirement of data protection, such as HIPAA (Health Insurance Portability and Accountability Act) in the United States, will discourage adoption among smaller health care providers. To foster the adoption of telemedicine services, the report recommended that health care regulatory bodies continue to deregulate telemedicine services to minimize remaining barriers to entry for smaller health care providers.
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary