Global Telehealth Market Booms During COVID-19 Pandemic: New Study Provides Outlook to 2025

Telehealth Market Witnesses Rapid Growth Globally Due to COVID-19
A recent study conducted by Makreo Research titled "Global Telehealth Market Performance and Outlook to 2025 - COVID-19 Impact Assessment" reveals that the global telehealth market is expected to grow at a compound annual growth rate (CAGR) of 24.03% from 2020-2025. The study provides a comprehensive assessment of the market, covering past, present, and future performance.

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► Uptake of Telehealth Services Accelerates During Pandemic
The COVID-19 pandemic has resulted in a rapid expansion of telehealth services across the globe. The United States, which already had a well-established telehealth infrastructure prior to the pandemic, holds the largest share of the global telehealth market. However, emerging countries such as India, Vietnam, Indonesia, and China are now utilizing telehealth as a critical enabler for their healthcare sectors. Developed economies such as Australia and Japan are reducing their reliance on telehealth, instead advancing new models of digital healthcare by utilizing new software and tools.

► Mobile Health (mHealth) Dominates Telehealth Market
In 2020, mHealth accounted for the largest market share followed by Remote Patient Monitoring (RPM) and Virtual Visits. Mobile health involves the use of mobile devices in the practice of public health and medicine and is expected to grow at a rapid pace. The increasing advancement in mobile technologies and applications, and the continued growth in mobile cellular network coverage are expected to drive market growth.

► Market Performance and Assessment by Region
North America holds the major share (46.2%) of the global telehealth market, driven by high prevalence of chronic conditions and an increasing geriatric population. Europe is the second-largest market, while the Middle East and Africa hold the least market share. However, the telehealth market in the Middle East is growing at a strong pace.

► COVID-19 Impact Assessment and Competitive Landscape
The study includes a separate section on COVID-19 impact, discussing how the pandemic has impacted the telehealth market globally. The report also covers the competitive landscape of the industry, including mergers and acquisitions, and company profiles of major international players such as Teledoc Health Inc., Medtronic PLC, and American Well.

Conclusion
The global telehealth market is witnessing rapid growth due to the COVID-19 pandemic. The mHealth sector is dominating the market and is expected to continue to do so in the near future. North America holds the largest share of the market, but emerging countries such as India and China are rapidly adopting telehealth services. The report provides a comprehensive assessment of the market, including the impact of COVID-19 and the competitive landscape.

Find out more:- https://www.makreo.com/report/global-telehealth-market-performance-and-outlook-to-2025-covid-19-impact-assessment

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Makreo is a Market research and consulting firm working closely with business conglomerates worldwide to help them in many aspects of driving their business growth and assist in making wise decisions with the help of our qualitative & quantitative market insights.

This release was published on openPR.