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Global Telehealth Market Showing tremendous Growth With Top Players like Giffen Solutions, Inc., Capsule Technologies, Inc., Chiron Health, Cisco, Biotricity

05-18-2020 03:34 PM CET | Health & Medicine

Press release from: Data Bridge Market Research

Global Telehealth Market

Global Telehealth Market

According to Data Bridge Market Research, the telehealth market is attaining a significant growth in forecast period 2019-2026 due to factors such as increasing occurrence of chronic diseases, development in telecommunication structure, and growing need of accessible treatment due to rising medical cost and increasing number of geriatric population which will surge the growth of the market.

Global telehealth market is registering a healthy CAGR of 22.67% in the forecast period of 2019-2026. This rise in the market can be attributed to the increasing elderly population, growing occurrence of chronic diseases and developments in telecommunication structure

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Global Telehealth Market By Component (Services, Software, and Hardware), Mode of Delivery (Web-Based Delivery Mode, Cloud-Based Delivery Mode, and On-Premise Delivery Mode), End User (Providers, Payers, Patients, and Other End Users), and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026

Key Market Competitors

Few of the major market competitors currently working in the global telehealth market are Giffen Solutions, Inc., Capsule Technologies, Inc., Chiron Health, Cisco, Biotricity, A&D company, Limited, OSI Systems, Inc., Biotronik, Koninklijke Philips N.V., AMD Global Telemedicine, Inc., Global Media Group, Inc., BioTelemetry, Inc., Resideo Technologies, Inc., Masimo., eVisit Telemedicine Solution, edgeMED Healthcare, INTeleICU, iMDsoft, InTouch Technologies, Inc., AirStrip Technologies., American Well, among others.

Global healthcare is under continuous threat of rising chronic conditions and shortage of healthcare professionals in all developed countries. Telehealth is expected to offer the solution to this threat, owing to advancements in mobile technology telehealth now can be applied in multiple provider type with maximum integration. As key components of telehealth clinical monitors, peripheral devices are expected to form the key ingredients in telehealth market. As per a recent survey in U.S., published in American Journal of Critical Care healthcare professional believe that telehealth-ICU's are improving the productivity of healthcare facilities. About 79% of the 1200 respondents agreed that telehealth improves patient care. In 2015, there were about 45 tele-ICU's that connect more 200 hospitals and 6,000 beds in the U.S. It's estimated between 800 to 1,000 nurse's practice in tele-ICUs and another 16,000 interface with these units. The biggest roadblock in the growth oftelehealth marketis no proper means of deliver physician reimbursements. According to a recent survey by Anthem and American academy of family physician's, suggested that 9 out of 10 respondents agreed to use telehealth if they reimbursed properly. Also there are other hindrances in this market such as telehealth education; technological platforms and the lack of updated tools to support telehealth are resolved by healthcare industry.

The telehealth market is categorized on the basis of hardware, software, services, deployment, end user, and geography. The market, by hardware, is categorized into telehealth monitors and monitoring devices. The monitoring devices sub segment is further classified by device type into blood pressure meters, blood glucose meters, weight scale, pulse oximeters, peak flow meters, ECG monitors and other devices. The software market is further segmented into integrated and standalone software. The services market is further segmented into remote monitoring, real-time, and store and send. Based on deployment, the market is categorized into web-based, on premise, and cloud-based. The market by end user is segmented into providers, payers, and patients.

Global Telehealth Market - Geographical Segmentation

Based on geography the global telehealth marketis segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. U.S. is expected to dominate the market due to the rising pool of elderly population and chronic disease patient pool. Telehealth will help to U.S. healthcare model to shift from episodic model to dynamic continuous monitoring, leading to betterment of healthcare.

Global Telehealth Market - Competitive Landscape:

In-depth profiling of key players has been conducted along with recent developments (new product launches & partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the global telehealth market. Some of the major players in this market are Cerner Corporation, GE Healthcare, Honeywell Life Care Solutions, McKesson Corporation, Ergotron, Inc., Medtronic, Inc., InstaMD, The Medvivo Group, Philips Healthcare, USARAD Holdings, Inc., Robert Bosch Healthcare, Vitaphone GmbH, Siemens Healthcare, Cisco Systems, Inc., SnapMD, Inc. and, Tunstall Healthcare among others.

Key Developments in the Market:

In April 2019, Best Buy joined partnerships with TytoCare, an Israeli-based telehealth firm, to deliver TytoHome equipment solely on the best buy page and in selected shops in Minnesota. For $300, Best Buy clients can now buy a portable evaluation tool that allows remote diagnosis of medical problems such as ear infections, fever, allergies, lower respiratory infections, and rashes, and advise the primary care physician at any moment, anyplace. This cooperation allowed businesses to launch an advanced item in the industry.
In January 2019, VRHealth announced the implementation of the first telehealth-VR medical system, which contains applications specifically intended for customers to use at home. VRHealth participates in AARP Innovation Labs. With this cooperation with AARP, VRHealth resides at the AARP Innovation Lab and integrates the key characteristics of its item into Alcove VR's Health and Wellness segment, a virtual reality service that allows households to communicate regardless of cost, moment or movement limitations.

Key Insights in the report:

o Complete and distinct analysis of the market drivers and restraints

o Key Market players involved in this industry

o Detailed analysis of the Market Segmentation

o Competitive analysis of the key players involved

Market Drivers

Increase in the elderly population is contributing to the growth of the market
Growing occurrence of chronic diseases is boosting the growth of the market
Developments in telecommunication structure is driving the growth of the market
Need for accessible possible treatments due to increasing medical costs is propelling the growth of the market

Market Restraints

Legality, secrecy, and security concerns is restricting the growth of the market
Narrow compensations in the U.S. is hindering the growth of the market
Slight or little alertness of telemedicine among developing country is hampering the growth of the market

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Market Segmentation:-

To comprehend Global Telehealth market dynamics in the world mainly, the worldwide Telehealth market is analyzed across major global regions.

North America: United States, Canada, and Mexico.
South & Central America: Argentina, Chile, and Brazil.
Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt and South Africa.
Europe: UK, France, Italy, Germany, Spain, and Russia.
Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, and Australia.

Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.

Some of the Major Highlights of TOC covers:

Chapter 1: Methodology & Scope

Definition and forecast parameters

Methodology and forecast parameters

Data Sources

Chapter 2: Executive Summary

Business trends

Regional trends

Product trends

End-use trends

Chapter 3: Industry Insights

Industry segmentation

Industry landscape

Vendor matrix

Technological and innovation landscape

Telehealth Market report effectively provides required features of the global market for the population and for the business looking people for mergers & acquisitions, making investments, new vendors or concerned in searching for the appreciated global market research facilities. It offers sample on the size, offer, and development rate of the market. The Telehealth report provides the complete structure and fundamental overview of the industry market.

Note: If you have any special requirements, please let us know and we will offer you the report as you want.

Contact:

Data Bridge Market Research

US: +1 888 387 2818

UK: +44 208 089 1725

Hong Kong: +852 8192 7475

Email: Corporatesales@databridgemarketresearch.com

About Data Bridge Market Research:

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.

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