The global telehealth market size reached USD 70.5 Billion in 2020 and is expected to register a revenue CAGR of 29.2% during the forecast period, according to latest analysis by Emergen Research.
Rising healthcare expenditure and increasing prevalence of chronic diseases are some of the major factors boosting revenue growth of the market. In addition, significant increase in government expenditure on healthcare information Technology (HCIT) sector and rising focus among key players toward bringing innovation into digital diagnostics is further driving market growth. Moreover, continuous advancements in medical diagnostic technologies are projected to create lucrative opportunities for the growth in the near future.
The COVID-19 pandemic has resulted in increasing demand for telemedicine consultations among patients. For example, Apollo TeleHealth has reported a three-fold increase in teleconsultation demand through their different projects and initiatives during the COVID-19 lockdown since March 2020. These factors are also contributing to growth of the telehealth market.
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The research study presents an industry-wide summary of the Telehealth market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global Telehealth research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.
Key Highlights From the Report
· Tele-home segment revenue is expected to expand at rapid CAGR during the forecast period owing to the COVID-19 pandemic.
· Software segment is expected to register a significantly robust revenue growth rate over the forecast period. The software segment is further sub-segmented into integrated software and standalone software. Integrated software has higher adoption rate than standalone software due to wider range of applications and cost-effectiveness. Some of the examples of integrated systems are exam cameras, networked devices & software, and telehealth stations.
· In August 2021, TeleSpecialists, LLC, which is a national leader in hospital-based telemedicine and quality management services, announced the launch of their TelePsychiatry services in hospitals for adult, adolescent, and pediatric patients.
· North America is expected to register a considerably steady revenue growth rate in the global telehealth market over the forecast period due to presence of major telehealth system providers such as GE Healthcare, IDEXX Laboratories, Inc., Carestream Health, Inc., and Diagnostic Imaging Systems, Inc., among others.
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Leading Players Profiled in the Report:
Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland),GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers (Germany), Cisco Systems, Inc. (US), Teladoc Health Inc. (US), American Well (US), AMC Health (US), MDLive (US), Doctor on Demand (US), Medvivo Group Ltd (UK), Asahi Kasie Corporation (Japan), Iron Bow Technologies (US), Telespecialists Llc (US), GlobalMed (US), MedWeb (US), IMediplus Inc. (China), Vsee (US), Chiron Health (US), and Zipnosis (US).
The report analyzes the market based on different categories such as product types, end-user applications, and leading geographical regions. It offers key insights into the factors that are expected to influence the growth of the segments and sub-segments.
Emergen Research has segmented global telehealth on the basis of type, component, deployment model, application, end-use, and region:
· Type Outlook (Revenue, USD Billion; 2018–2028)
o Tele-Home
o Tele-Hospital
· Component Outlook (Revenue, USD Billion; 2018–2028)
o Services
1. Remote Patient Monitoring
2. Store-and-forward
3. Live Video-Conferencing
4. Mobile Health
o Software
1. Integrated Software
2. Standalone Software
o Hardware
1. In-home messaging device
2. Video telemonitor
3. Interactive Voice Response (IVR)
4. Medical Peripheral Devices
§ Blood Pressure Monitors
§ Blood Glucose Monitors
§ Weighing Scales
§ Pulse Oximeters
§ Peak Flow Meters
§ ECG Monitors
§ Other Devices
· Deployment Model Outlook (Revenue, USD Billion; 2018–2028)
o Web & Cloud-based
o On-premises
· Application Outlook (Revenue, USD Billion; 2018–2028)
o Radiology
o Cardiac Monitoring
o Primary/Urgent Care
o Neurophysiological Monitoring
o Remote ICU
o Mental Health
o Other Applications
· End-use Outlook (Revenue, USD Billion; 2018–2028)
o Healthcare Providers
o Healthcare Payers
o Patients
o Other End-uses
To know more about the report @ https://www.emergenresearch.com/industry-report/telehealth-market
Major regions include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report studies the market in these regions on the basis of demand and trends, consumer behavior and preferences, government initiatives and regulatory framework, economic growth, technological developments, supply and demand, production and consumption patterns, import/export, and presence of key players in each region.
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