The Global Telehealth Market is expected to Add $40 Billion in Revenue by 2024 - Arizton

The global telehealth market is expected to reach around $40 billion, growing at a CAGR of 25% during 2018-2024.

The on-going pandemic caused by COVID-19 has boosted the adoption of innovative telehealth solutions across the globe. The use remote monitoring and wearable technologies are providing both patients and healthcare physicians with valuable insights regarding health data. Moreover, the recent advancements in the use of sensor technology, data capture, and transfer of data through telehealth platforms have unlocked many opportunities for patients to monitor their health status directly at home, thereby minimizing the need for visiting hospitals. The equipment to support telehealth can be accessed by patients using tablets, smartphones, and laptops. Hence, these technological innovations are driving the global telehealth market.

Arizton's recent market research report considers the present scenario of the telehealth market and its market dynamics for the period 2018-2024. The study covers a detailed overview of various market growth enablers, restraints, and trends. It includes both the demand and supply aspect of the market. The study also profiles and analyzes leading companies and several other prominent companies operating in the global telehealth market.

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Telehealth Market - Dynamics

Here are the list of trends and drivers that are impacting the revenues and profitability in the global telehealth market:

o Increasing Target Pool of Patients Requiring Telehealth
o High Demand for mHealth Fueling Telehealth Adoption
o Rising Demand for RPM Platforms & Connected Medical Devices
o Rapid Technological Advancements Fueling Telehealth Adoption
o Increasing Strategic Partnerships & Acquisitions
o Emergence of Telehealth Robots & Robotic Telehealth Platforms

Telehealth Market - Segmentation

The market research report includes detailed segmentation by products, services, end-user, and geography.
o In terms of modality, the global telehealth services is classified into real-time virtual health, remote patient monitoring, and store-and-forward. The real-time virtual health segment occupies around half of the worldwide market, growing at a CAGR of around 33% during the forecast period.
o Hardware and infrastructure providers act as a medium for the facilitation of remote healthcare services worldwide. They provide operational platforms to enable virtual visits, store-and-forward, and RPM. They also offer video-conferencing solutions, cloud-based servers, security encryption, secured bandwidth, network to service providers, supporting systems to have a seamless connection between physicians and patients.
o With endless options to choose from, cloud-based health solutions can achieve seamless scalability in line with the growing demand for remote healthcare services globally. On-premise platforms are available with all functions and features that are needed to practice any form of medicine suitable for enhancing care.

Market Segmentation by Modality
o Real-time virtual health
o Remote patient monitoring
o Store-and-forward

Market Segmentation by Component
o Services
o Hardware
o Software

Market Segmentation by Mode of Delivery
o web/app-based
o cloud-based, and on-premise

Market Segmentation by End-User
o Healthcare providers
o Patients
o Employer groups and government bodies
o Payers

Telehealth Market - Geography

Globally, North America is the largest market for telehealth and offers significant growth opportunities for global and local players. In 2018, the region accounted for a share of over 40% of the global telehealth market. The region's dominance is specifically due to the higher uptake of telehealth in the US than the other countries. Telehealth services are being widely adopted in the region as they can ease the shortage of healthcare professionals and efficiently improve access to healthcare for people living in remote and rural areas. The market is growing at a faster rate than all other regions and is likely to retain its dominance during the forecast period.

Market Segmentation by Geography
o North America
o US
o Canada
o Europe
o UK
o France
o Germany
o APAC
o Japan
o China
o Latin America
o Mexico
o Brazil
o MEA

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Telehealth Market - Vendor Landscape

The global telehealth market is highly dynamic and fragmented, with the presence of many global, regional, and local players offering a diverse range of hardware, software, and service support required for telehealth solutions. Hardware manufacturers are collaborating with software/application developers and healthcare providers to enhance the quality of care to patients. The rapidly changing technological environment has a significant impact on the overall market as patients and clinicians are looking for remote healthcare platforms with innovative and advanced features.

Major Vendors in the Global Market:
o AMD Global Telemedicine
o American Well
o Biotelemetry
o GlobalMedia Group
o Honeywell Life Care Solutions
o MEDTRONIC
o Philips Healthcare
o Teladoc Health
o InTouch Technologies

Other prominent vendors are AirStrip Technologies, iMDsoft, A&D Company, Abbott, BIOTRONIK, Boston Scientific, Biotricity, Cisco, Chiron Health, edgeMED Healthcare, eVisit, GE Healthcare, INTeleICU, iSelectMD, Masimo, MDLIVE, Capsule Technologies, MedXCom, Virtual Health Care, Vidyo, VSee, Spacelabs Healthcare, and Zipnosis.

Telehealth Market - Table of Contents

1 Research Methodology
2 Research Objectives
3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Modality
4.4.2 Market Segmentation by Component
4.4.3 Market Segmentation by End-users
4.4.4 Market Segmentation by Mode of Delivery
4.4.5 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market At A Glance
7 Introduction
7.1 Overview
7.1.1 Real-time Virtual Care
7.1.2 Store-and-forward
7.1.3 RPM
7.2 Global Telehealth Market Snapshot

8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Increasing Target Pool of Patients Requiring Telehealth
8.1.2 High Demand for mHealth Fueling Telehealth Adoption
8.1.3 Rising Demand for RPM Platforms & Connected Medical Devices
8.2 Market Growth Restraints
8.2.1 Legal Barriers & Lack of Standard Regulations for Telehealth
8.2.2 Lack of Standard Interoperability & Data Integration with Telehealth Infrastructure
8.2.3 Data Security & Privacy Risks Associated with Telehealth
8.3 Market Opportunities & Trends
8.3.1 Rapid Technological Advancements Fueling Telehealth Adoption
8.3.2 Increasing Strategic Partnerships & Acquisitions
8.3.3 Emergence of Telehealth Robots & Robotic Telehealth Platforms

9 Global Telehealth Market
9.1 Telehealth Market Overview
9.2 Market Size & Forecast
9.3 Five Forces Analysis
9.3.1 Threat of New Entrants
9.3.2 Bargaining Power of Suppliers
9.3.3 Bargaining Power of Buyers
9.3.4 Threat of Substitutes
9.3.5 Competitive Rivalry

10 Telehealth Market by Component
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.3 Services
10.3.1 Market Size & Forecast
10.4 Hardware
10.4.1 Market Size & Forecast
10.5 Software
10.5.1 Market Size & Forecast

11 Telehealth Market by Modality
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 Real-time Virtual Health
11.3.1 Market Size & Forecast
11.4 Remote Patient Monitoring
11.4.1 Market Size & Forecast
11.5 Store-and-forward
11.5.1 Market Size & Forecast

12 Telehealth Market by Delivery Mode
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Web/app-based Services
12.3.1 Market Size & Forecast
12.4 Cloud-based Services
12.4.1 Market Size & Forecast
12.5 On-premise Services
12.5.1 Market Size & Forecast

13 Telehealth Market by End-Users
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Healthcare Providers
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.4 Patients
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.5 Employer Groups and Government Bodies
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.6 Payers
13.6.1 Market Overview
13.6.2 Market Size & Forecast

14 Telehealth Market by Geography
14.1 Market Snapshot & Growth Engine
14.2 Market Overview

15 North America
15.1 Market Overview
15.2 Market Size & Forecast
15.3 Key Countries
15.3.1 US: Market Size & Forecast
15.3.2 Canada: Market Size & Forecast

16 Europe
16.1 Market Overview
16.2 Market Size & Forecast
16.3 Key Countries
16.3.1 UK: Market Size & Forecast
16.3.2 France: Market Size & Forecast
16.3.3 Germany: Market Size & Forecast

17 APAC
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Key Countries
17.3.1 Japan: Market Size & Forecast
17.3.2 China: Market Size & Forecast

18 Latin America
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Key Countries
18.3.1 Brazil: Market Size & Forecast
18.3.2 Mexico: Market Size & Forecast

19 Middle-East And Africa
19.1 Market Overview
19.2 Market Size & Forecast

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