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Telehealth Market is estimated to grow at a remarkable CAGR of 37.7% during the forecast period | Size & Industry Forecast
The Telehealth Market is expected to grow at a CAGR of 37.7% over the forecast period.For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-telehealth-market/
The factors driving growth of the Telehealth Market includes increasing penetration of smartphones, rising prevalence of chronic diseases around the world, Government expenditure to enhance the healthcare services, transition from traditional to virtual care strategies and improvements in the living standards. As per the Center for Medicare and Medicaid Services, expenditure by the Government of United States has increased from USD 3.81 Trillion in 2019 to 4.01 Trillion in 2020, which will accelerate the Telehealth Market share in the approaching years. Moreover, technological advancements in warble remote monitoring devices, increasing popularity of self-monitoring applications, gradual shift towards home care services, rise in the number of start-ups and rapid urbanization, are some of the additional factors supplementing the Telehealth Market Growth. In addition, the increasing investments by major corporations on research and development, rise in the launch of innovative products and growing disposable incomes, are further propelling the Telehealth Market size.
However, growth of the Telehealth Market is hindered due to lack of expertise to operate 4complex devices.
The major players operating in the market are Tunstall Healthcare, Care Innovations, Globalmedia Group LLC, Medtronic PLC, Honeywell Life Care Solutions, AMD Global Telemedicine Inc., Cerner Corporation, Cisco Systems Inc., Medvivo Group Ltd., Philips Healthcare, and Aerotel Medical Systems Ltd., among others.
Based on Application, the Teleradiology is predicted to capture the largest market share during the forecast period
Increasing use of telehealth solutions for imaging practices and growing adoption of teleradiology services by healthcare institutions, are propelling segment's growth.
Based on End-Users, the Providers segment is projected to expand at a remarkable CAGR over the forecast period
As per the Telehealth Market Forecast, technological advancements in telehealth monitoring devices and rising number of tele-specialty services, are pushing segment's growth.
Based on Region, the North American region is projected to hold the highest market share in next 7 years
According to the Telehealth Market Analysis, increasing prevalence of chronic diseases across United States and Canada, rising geriatric population, proliferation of smartphones and tablets and high per capita incomes, are driving the market growth in the North American region.
Key Developments
• In 2020, Philips Healthcare partnered with the American Telemedicine Association to support the adoption of telehealth across various industries.
• In 2018, AMD Global Telemedicine Inc., launched its OnDemand Visit, a D to C telehealth platform which allows enterprises to grow their service offerings as well as engage patients in a convenient way.
Segmentation by Component
Software & services
Remote patient monitoring software and devices
Real-time interaction software & services
Store-and-forward software & services
Hardware
Medical peripheral devices
Blood pressure monitors
Blood glucose meters
Weight scales
Pulse oximeters
Peak flow meters
ECG monitors
Other devices
Monitors
Segmentation by Mode of delivery
Cloud-based
On-Premise
Segmentation by Application
Teleradiology
Tele-consultation
Tele-ICU
Tele-stroke
Tele-psychiatry
Tele-dermatology
Others
Segmentation by End-User
Providers
Payers
Patients
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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