According to the research report titled ‘North America Telemedicine Market Size By Type, Service, Specialty, Delivery Mode, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026A’, available with Market Study Report, North America telemedicine market is projected to exceed a valuation of USD 98 billion by the end of the forecast timeframe 2020-2026.
 

Rise in demand for disease monitoring solutions coupled with growing prevalence of chronic health conditions is catalyzing North America telemedicine market growth. In fact, the National Health Council cites that about 133 million of the America population suffers from chronic diseases and the number is supposedly jumped to 157 million by the end of 2020, indicating a strong demand for health consultation solutions in the nation.
 

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Further, technological advancements in telemedicine platforms, and increase in number of favorable government initiatives are rendering a positive impact on the business dynamics. Besides, social distancing norms amid the Covd-19 pandemic has elevated the importance of virtual care solutions in American countries.
 

Elaborating on the factors hindering North America telemedicine industry expansion, security and privacy concerns associated with virtual healthcare platforms will limit their adoption to some degree in the upcoming years.
 

Based on service, tele-monitoring segment accounted for approximately 24% of North America telemedicine market share in 2019 and expected to register a strong CAGR throughout the projected timeline. This service assist healthcare specialist in remote monitoring of patients for providing urgent care. Its application in monitoring heart conditions, and adoption among people with developmental disabilities in homecare settings is fueling the segmental growth.
 

Considering delivery mode, web/mobile segment constituted about 60% to North America telemedicine industry share in 2019 and will likely continue to showcase strong growth trends through 2026. Growing accessibility to a wide variety of platforms and smartphone application for consulting and remote monitoring is driving the segment growth.
 

With respect to the geographical landscape, North America telemedicine market is fragmented into Untied States and Canada. Industry experts cite that Canada market is touted to grow at a yearly rate of 20.3% over the forecast duration. Favorable government initiatives and efforts to develop healthcare access serves a major growth impetus for the industry growth. In fact, the Canadian government declared a USD 240.5 million investment for advancement of virtual care and mental health tools during the Covid-19 pandemic. Apart from this, developing awareness regarding telemedicine, booming elderly population, surging cases of chronic diseases, and escalating demand for advanced technologies are supporting the industry expansion in Canada.
 

Key players influencing North America telemedicine market trends are Teladoc Health, Inc., Specialist Telemed, SOC Telemed, OBS Medical Ltd., McKesson Corp., Koninklijke Philips N.V., Insight, Honeywell International, Inc., Eagle Telemedicine, Cisco Systems, Inc., Cerner Corp., Blue Sky Telehealth, BioTelemetry, Inc., American Well, AMD Global Telemedicine, Inc., and Allscripts Healthcare Solutions, Inc.