Bienestar Telehealth market was valued at US$ 12,083.5 million in 2017 and is projected to reach US$ 42,227.9 million by 2025

The Telehealth market was valued at US$ 12,083.5 million in 2017 and is projected to reach US$ 42,227.9 million by 2025; it is expected to grow at a CAGR of 17.7% during 2018–2025.

Telehealth is a technique of exchanging health data from a patient at home to clinician(s) for getting assistance in treatment. Telehealth enables to offer the services on consultation, care management, diagnosis, and self-management services by using information & communication technologies (ICT). Telehealth is a collection of means that is used to improve the care and education delivery. It involves a wide variety of innovative technologies that help to deliver health, virtual medical and education services to the users. Telehealth include instruments, apparatus, machines or software (including mobile applications) that are involved in the delivery of healthcare services.

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Market Insights

Increasing Prevalence of Cardiovascular Disease

Delivering healthcare via telehealth solutions could open up home monitoring of aged care patients with chronic diseases, improving health outcomes and significantly saving costs. Chronic diseases such as stroke, heart disease, cancer, depression, diabetes, obesity, and arthritis are the response for billions of medical costs. Telehealth is a powerful tool in reducing the rate of deaths and managing the negative health effects associated with these chronic conditions. Telehealth used information and communication technology (ICT) and mobile wireless devices which have been utilized in various clinical disease to reduce medical cost and improve outcome, especially in cardiovascular disease. With the help of advanced ICT technology, telehealth can improve the management of cardiovascular disease and also improve the access to health care and quality of health care delivery to their patients. Cardiovascular disease is a leading cause of death in the United States where 1 to 3 deaths estimated every day. Heart failure is responsible for a high hospitalization rate in the region. To prevent cardiovascular diseases, improve care quality and reduce mortality hospitalization rate, Telehealth solutions are used. American Heart Association (AHA) and American Stroke Association support the telehealth strategies for acute stroke whenever physicians are not available on-site. Additionally, cardiovascular is found to be common in European countries as well. According to the European Heart Network AISBL, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU) each year. These statistics determine an increase in the demand for Telehealth solutions in various regions across the globe.

Product-Based Market Insights

The product segment of the telehealth market is segmented into integrated and standalone platform. In 2017, integrated segment held the largest share of the market, by product. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to increasing number of hospitals adopting EHR systems, easy integration telehealth into the EHR system and increasing focus of healthcare organization to improve patient care.

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By Type-Based Market Insights

The type segment of the Telehealth market is segmented into hardware, software and services. In 2017, the software segment held the largest share of the market, by type. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to increasing adoption of telehealth by providers, increasing use of mobile and tablets by patients and providers to access telehealth facilities.

By Mode Of Delivery -Based Market Insights

The mode of delivery segment of the Telehealth market is into on-premise, web-based, and cloud-based. In 2017, the web-based delivery mode held the largest share of the market, by mode of delivery. The cloud-based segment is expected to grow at the fastest rate during the coming years owing to increasing adoption of cloud based technology by telehealth providers to save patient data and allow access of data to other providers

Strategic Insights

Product launches and product approval strategies are commonly adopted by companies to expand their footprints and product portfolio worldwide and meet the growing demand.

Additionally, the market players operating in the Telehealth market adopt the strategy of expansion to enlarge customer base across the world, which permits the players to maintain their brand name globally. For instance, in June 2017, Honeywell announced the product launch of LifeStream 5.2 which is the latest version of industry-leading, FDA-cleared telehealth software.

Global Telehealth Market – By Product

Integrated
Standalone
Global Telehealth Market – By Type

Hardware
Software
Services
Global Telehealth Market – By Mode of Delivery

On-Premise
Web-Based
Cloud-Based

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The Insight Partners
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.