Telemedicine: important figures of its impact on society

As a consequence of the COVID-19 pandemic, one of the words that is constantly heard when investing is telemedicine. Although this term is not new and has been used for more than 100 years, the pandemic forced society to look for ways to reactivate industries without putting the health of any of the parties involved at risk.

The health industry never stopped, but its demand grew exponentially, and telemedicine became an alternative focused on taking care of health without being exposed to the virus in clinics and hospitals.

Its popularity grew with the passing of the months in which non-urgent visits to clinics and hospitals were not recommended. This in turn led to the birth of services that facilitate the process of scheduling appointments, locating health professionals who offer this type of service and, in general, promoting this branch of the industry.

For this reason, the concept and important figures of this industry are highlighted here, which are a small sample of the exponential growth that it experienced at the beginning of the pandemic and now it becomes an important idea to invest.

What is telemedicine?

According to the Center for Disease Control (CDC), telemedicine can be defined as “the use of electronic information and telecommunication technology to receive the health care you need while practicing social distancing.”

The popularity of telemedicine in numbers

According to the CDC, for the first quarter of 2020, a 150% increase in consultations through telemedicine was registered in the United States.

SingleCare reports that in Asia Pacific, insurers say they saw a 52% increase in the use of these services, rising from 4% to 56%.

India, for its part, predicts a 31% increase in the telemedicine market by 2025.

As for Europe, Statista reports that the 5 countries that saw a considerable increase in the use of telemedicine are Spain, Slovenia, Poland, Ireland and Lithuania.

As for the value of the market globally, Fortune Business Insight estimates considerable growth ranging from USD 90.74 billion in 2021 to USD 636.38 billion by 2028.

A trend with excellent projections

It can then be seen how, worldwide, a considerable growth of the telemedicine industry is expected from all angles: users, platforms and medical personnel that use this way of caring for their patients, as well as the interest in investing in it.

A direct consequence of the use of telemedicine is the decrease in visits to the hospital and the time that the patient spends in an emergency unit. This is one of the most important aspects of this trend, since it decreases the possibility of contagion from COVID-19.

The virus that paralyzed the world forced society to change the way many routine activities were carried out and this in turn generated the emergence or popularization of services that were adapted to the so-called new normality.

When investing, being aware of the growth of unconventional or new markets is vital in order to be part of a trend that projects a positive return on investment from many angles.

Investing in telemedicine is not only investing in the future, but also supporting a way of taking care of the health of a high number of people in clinics and hospitals.