The telemedicine services market is projected to grow from $131.75 billion in 2023 to $290.59 billion by 2028, driven by factors such as increased mobile phone usage, government support, and rising healthcare demands. The market is expected to expand at a CAGR of 14.6%, with significant advancements in technology like 5G and AI enhancing service delivery. North America remains the largest market, reflecting a growing acceptance of telemedicine among insurers and healthcare programs.
The 2024 Autumn Budget announced significant funding for the NHS, including £6.1 billion for biotech and medical science, and £1.5 billion for new beds and diagnostic capacity. Industry leaders emphasize the need for value-based procurement, modern equipment, and workforce training to enhance patient care and address ongoing challenges like staff shortages. However, concerns remain over tax increases potentially undermining these investments, and calls continue for the removal of VAT on defibrillator purchases to improve community health resources.
Agfa-Gevaert, Mindray, Revvity, GE HealthCare, Philips, Canon, and Hitachi are advancing in the medical imaging sector through innovative technologies and strategic partnerships. These companies are enhancing diagnostic capabilities, expanding geographical presence, and focusing on AI integration to meet global healthcare demands. Recent developments include new product launches and collaborations aimed at improving patient care and operational efficiency.
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