Global Telehealth Market Share, Trends and Leading Players By 2027

Telehealth market is estimated to grow at a CAGR of 17.09% during the forecasting period 2021-2027. Telehealth is a latest technique of interchanging health information from a patient at home to clinicians for getting support in treatment. Telehealth facilitates to render the services on care management, consultation, diagnosis and self-management services with the help of information & communication technologies (ICT). Telehealth is a group of means which is used to enhance the care and education delivery. It includes a wide range of innovative technologies which help to provide health, virtual medical and education services to the users.

Telehealth consists of apparatus, instruments, machines or software including mobile applications which are involved in the delivery of healthcare services. However, frauds in telehealth and telemedicine and usage of social media are the factors limiting the market growth. Use of blockchain, artificial intelligence and analytics and virtual assistants are the technologies used in the telehealth segment to augment the service.

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Key Driving Factors: Rising Incidence of Cardiovascular Disease

Rendering healthcare via telehealth solutions could open up home monitoring of elderly care patients with chronic diseases, improving health results and majorly saving costs. Chronic diseases such as depression, heart disease, stroke, cancer, diabetes, obesity and arthritis are the response for billions of medical expenses. Telehealth is a robust tool in curbing the number of deaths and handling the adverse health effects related to the chronic conditions. Telehealth used information and communication technology (ICT) which have been used in several clinical disease to curb the medical costs and improve result, particularly in cardiovascular disease. With the assistance of advanced ICT technology, telehealth can revamp the cardiovascular disease management and also revamp the access to health care and quality of health care delivery to their patients.

Cardiovascular disease is a major cause of death in the United States where 1 to 3 deaths evaluated every day. Heart failure is the reason for a high hospitalization rate in the region. To avoid cardiovascular diseases, enhance care quality and curb mortality hospitalization rate, telehealth solutions are used.

The key players in the telehealth market are Koninklijke Philips N.V., Medtronic, MedWeb, GE Healthcare Cerner Corporation, Siemens Healthineers, Iron Bow Technologies, Teladoc Health Inc., Cisco Systems, Inc., American Well, AMC Health, MDLive, Doctor on Demand, Medvivo Group Ltd, GlobalMed, Asahi Kasie Corporation, Telespecialists Llc, IMediplus Inc., Vsee and Chiron Health

Opportunities: Artificial Intelligence and Analytics

Big data analytics can process information gathered from telehealth sources, including both objective data (vital signs, ambient environment) and subjective data (symptoms, patient behavior), coupled with past data to allow risk estimation and management. Further, public payers, federal agencies, and large commercial insurers have extented telehealth access in the pandemic. Most of them are battling to make sure that telehealth is being used to the right patients for the right healthcare requirements, rising efficiency in care delivery. In respect to that, there appears to be vital potential in analytics, artificial intelligence and machine learning, as care delivery deploys the great use of telehealth. Data-driven analytics therefore forms an prominent component of ensuring efficacy and efficiency of telehealth.

By End User:
Providers, payers, patients and others are the end users of the telehealth. Among them providers are having the major role in the market as to enhance the quality of patient care. Moreover, the providers are rapidly deploying telehealth services to provide healthcare to patients in rural areas and providing high-quality care to people with complicated conditions at minimum costs.

By Component
Software & services
Hardware

By Application
Teleradiology
Tele-consultation
Tele-ICU
Tele-stroke
Tele-psychiatry
Tele-dermatology
Other Applications

By End User
Providers
Payers
Patients
Other

By Region
North America
Europe
Asia Pacific
Rest of the World

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