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    According to the Graphical Research new growth forecast report titled Latin America Telemedicine Market size is set to exceed USD 5.5 billion by 2026. The COVID-19 pandemic will have a significant positive impact on the Latin America telemedicine market. It can be expected that the pandemic will expedite the adoption of telemedicine. Companies are already witnessing a surge in the number of telemedicine visits with some companies reporting a steep spike in demand for video consultations since the COVID-19 pandemic. Social distancing measures enforced by the government to prevent the spread of the virus will drive the adoption of telemedicine. Furthermore, Latin America has been substantially affected by the corona virus with nearly 684,113 cases in Mexico as of September 17th, 2020. This has increased the demand for telemedicine services among the public, driving the market expansion.

    High pervasiveness of chronic diseases will play a major role for adoption of telemedicine services. Growing burden of chronic disease such as cancer, diabetes and heart disease in Latin American region will boost the need for telemedicine services. Annually, countries in Latin America and the Caribbean spend about USD 65 billion for diabetes management. With advent of telemedicine services, the cost of healthcare services will decrease, thereby augmenting the market growth. However, improper security pertaining to telemedicine solutions and information may lead to huge losses of confidential and critical information. This could adversely affect the results and credibility of operations, therefore hampering the market growth.

    Based on service, the telemedicine market is classified into tele-consulting, tele-monitoring, tele-education/training and others. The tele-monitoring segment held nearly 25% market share in 2019 and will exhibit substantial growth during the forecast period. Tele-monitoring has wide array of applications in chronic illness such as asthma, cardiopulmonary disease and heart failure. The COVID-19 pandemic is expected to have a positive impact on the telemonitoring segment. The COVID-19 crisis has forced hospitals to triage their patients and avoid repeat visits. This has led to an increase in demand for remote monitoring.  Additionally, government efforts to monitor COVID-19 patients through remote monitoring will drive the segment growth in the short-run.

    By type, the telemedicine market is segmented into telehospital and telehome. The telehome segment will reach USD 1.7 billion by 2026. High growth rate is due to development of patient-centered telemedicine platform for home treatment. Furthermore, with lockdowns imposed by national governments, there have been restrictions on patients leaving their houses for non-emergencies. This is expected to surge demand of telehome segment during the forecast years.

    Based on specialty, the telemedicine medicine market is bifurcated to cardiology, mental health, neurology, gynecology, dermatology, orthopedics and others. The mental health segment accounted for USD 283.1 million in 2019. Increasing prevalence of mental disorders coupled with limited number of healthcare providers for mental health will boost application of telemedicine in mental health. Furthermore, mental health is deemed to be perfect for telemedicine due to its relatively low emphasis on physical contact and high reliance on counselling, thereby fostering the segmental growth.

    Delivery mode segment is divided into web/mobile based and call centers segment. The call centers segment held the market share at more than 40% in 2019 and will continue to witness substantial growth. The high growth can be attributed to ease of management of patient calls by a multi-specialty hospital. Moreover, availability of specialized nurses that are trained to efficiently engage patient health information will further foster the segmental growth.

    Mexico telemedicine market is forecasted to expand at 21.0% between 2020 and 2026. The local market expansion can be attributed to increasing number of COVID cases in the country. High market penetration of technically advanced digital health devices is expected to drive the telemedicine market. Furthermore, government initiatives along with growing awareness regarding benefits of telemedicine services will boost the local industry growth.

    Major market players in Latin America telemedicine market are AMD Global Telemedicine, Aerotel Medical System, Docademic, Honeywell International, ViveBem, Teladoc and Lumed Health among others. The market players are focusing on collaboration and partnership strategy in order to stay ahead in the competitive market. For instance, In March 2020, VivaBem announced its partnership with Doktor.se for expansion of digital services in Brazil. The partnership is expected to broaden its customer base and generate more revenue.

    Latin America telemedicine market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:

    Market, By Service, 2015-2026 (USD Million)

    • Tele-consulting
    • Tele-monitoring
    • Tele-education/training
    • Others

    Market, By Type, 2015-2026 (USD Million)

    • Telehospital
    • Telehome

    Market, By Specialty, 2015-2026 (USD Million)

    • Cardiology
    • Mental health
    • Neurology
    • Gynecology
    • Dermatology
    • Orthopedics
    • Other

    Market, By Delivery Mode, 2015-2026 (USD Million)

    • Web/mobile
      • Telephonic
      • Visualized
    • Call centers

    The above information is provided for the following region and countries:

    • Latin America
      • Brazil
      • Mexico
      • Columbia
      • Peru