Though the telemedicine platform was introduced long back, the platform is highly recognized now than ever. The telemedicine platform is nothing but a combination of telecommunication techniques to deliver education or services to the needed patients. It’s a bridge to transmit the health information of patients to the concerned healthcare professionals for a better living.
In the post-pandemic situation, the present virtual healthcare interactions commonly known as telemedicine platforms are beyond expectations, reaching more than 200 million virtual care cases by the end of 2020 and starting of 2021. In fact, reports have also shown that the U.S telemedicine market size in 2019 was valued at USD 6.61 billion which is anticipated to reach up to USD 17.14 billion with a CAGR of 14.6 % by 2026.
Telemedicine is a promising market that is bound to witness promising growth over the forecast period observed Dipak Nandi MD who has been involved across the United States and India with key strategic initiatives in healthcare services like medical billing and telemedicine.
How the telemedicine market has changed today:
In this pandemic situation due to the rising need to maintain social distance, the telemedicine platform has not only grown rapidly but is also widely accepted due to the greater access to quality healthcare. In fact, along with the urban area the telemedicine platform today is more recognized in the rural domain as well as remote locations, where limited resources are available due to its advancement in telecommunication technologies and its high utility in treating diseases and conditions. Moreover, shortage of physicians, greater access to quality healthcare, affordability, faster treatment solution, easy to use and operate systems, swift diagnosis are some of the crucial factor contributing to the growth factor of the telemedicine platform today.
In fact, today seeing the benefit that the platform has in the life of physicians, patients, etc, the government itself has taken many initiatives and shown strong support to boost the Telemedicine market; further helping in the expansion of the telemedicine platform. Furthermore, The American Telemedicine Association (ATA) in the pandemic situation took concentrated efforts to boost Telemedicine usage in the country by giving wider healthcare accessibility.
Dipak Nandi MD observed, today the telemedicine platform as compare to the previous years is seen enjoying quite a significant advantage over traditional medicine and this factor has propelled the market growth of the former in the U.S as well.
Giving the wider healthcare accessibility, the telemedicine platform is the key to the future also observed by Dr. Nandi, the recipient of several entrepreneurial awards and a proud member of the prestigious AIIMS alumni and a board-certified psychiatrist.
Present telemedicine scenario:
With the advantage, wide acceptance, and its efficiency to fill gaps in the overall care administration and to provide services round the clock; the telemedicine platform is used as finite sources of healthcare practices today. Providing the benefit of monitoring, preventive measures, faster diagnosis the cost-effective telemedicine platform is today one of the most in-demand along with CPAP and BIPAP machines. In fact, telemedicine and the use of CPAP and CIPAP machines go hand in hand with the rise of the market demand in this pandemic situation. As a vast majority numbers of patients were treated by CPAP in the pandemic helping them to recover from severe to moderate conditions.
According to a report the CPAP / BIPAP market which was valued at USD 3 Billion in 2018 is soon expected to reach at USD 7.64 Billion by 2026 growing at a Compound Annual Growth Rate (CAGR) of 12.40 % between 2020 and 2026 especially due to the pandemic situation.
Telemedicine: the future of healthcare:
In fact today with the benefit and advantages, many healthcare practices are seen expanding their presence across various geographies and entering new markets in developing regions to expand their customer base and strengthen their presence in the market with the unique telemedicine platform only.
One of the other observations that Dr. Dipak Nandi MD has is, Telemedicine is in fact the platform today to cater to the growing consumer demands.