Press release
Telehealth Market to Witness Huge Growth in 2025 | Key Player Analysis: Medtronic, Cerner Corporation, Tunstall Healthcare, AMD Global Telemedicine, Inc., Philips Healthcare, Cisco Systems, Inc
Telehealth Market to 2025
Telehealth is a technique of exchanging data from a patient at home to healthcare professional for getting assistance in monitoring and diagnosing. Telehealth allows the healthcare practitioner to easily offer their services on consultation, care management, diagnosis, and self-management services using information & communication technologies (ICT). These services are being offered through various mode of delivery such as on-premise, web-based, and cloud-based.
The telehealth market is estimated to grow at a CAGR of 15.7% during the forecast period from 2018 to 2025. The market for telehealth is estimated to reach US$ 52,897.2 Mn in 2025.
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The major players operating in the market of telehealth market include Medtronic, Cerner Corporation, Tunstall Healthcare, AMD Global Telemedicine, Inc., Philips Healthcare, Cisco Systems, Inc., Aerotel Medical Systems Ltd., Honeywell Life Care Solutions, Medvivo Group Ltd., American Well among others.
Growing aging population, increase in number of chronic diseases, and increasing demand for home monitoring devices are the major drivers which are likely to aid the growth of telehealth market. Rising technological advancements and enhancing demand for home monitoring solutions are likely to add new opportunities for this market in the coming years.
In our study, we have segmented the telehealth market by product, type, mode of delivery and end user. Based on product, global telehealth market is segmented as integrated and standalone. Based on type, the market is segmented into software, hardware and services. The mode of delivery segment is classified as on-premise, cloud-based and web-based. In the basis of end user the global market of telehealth is segmented into patients, prayers and healthcare providers. Geographically, the market for telehealth is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South and Central America (S&CAM).
The telehealth market is estimated to grow at a CAGR of 15.7% during the forecast period from 2018 to 2025. The market for telehealth is estimated to reach US$ 52,897.2 Mn in 2025. The market is witnessing a potential growth rate during the previous years and is expected to witness similar trend in the coming years. Additionally, major players in the market are engaged in research and development activities. These players have been upgrading their product portfolio by applying for approvals as well as launching new products. For instance, in November, 2017, Medtronic plc with the Medtronic Care Management Services (MCMS) business launched the advanced and latest telehealth solutions for supporting the U.S. Department of Veterans Affairs (VA) for Home Telehealth Devices and Services.
Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the market in these regions.
Also, key Telehealth Market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years.
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