Meticulous Research® Forecasts Remarkable Growth: North America Telehealth Market Set to Surpass $273.29 Billion by 2030

[Redding, California , 26-02-2024] - Meticulous Research®, a premier global market research firm, has unveiled its latest report titled "North America Telehealth Market by Component, Application-Forecast to 2030." This comprehensive study projects substantial growth for the North America Telehealth Market, with an anticipated value of $273.29 billion by 2030, boasting an impressive Compound Annual Growth Rate (CAGR) of 22.8% from 2023.

Elevating Healthcare Delivery:

Telehealth, also referred to as telemedicine, revolutionizes healthcare delivery by enabling remote access to medical services, consultations, and examinations. This innovative approach empowers healthcare professionals to diagnose, treat, and monitor patients remotely, eliminating the need for in-person visits. Telehealth solutions leverage personal devices or dedicated kiosks, offering unparalleled convenience and accessibility, particularly in rural areas.

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Driving Factors:

The North America Telehealth Market is propelled by various factors, including the declining physician workforce, the aging population, the prevalence of chronic diseases, and heightened awareness of telehealth benefits. Additionally, the integration of Artificial Intelligence (AI) and virtual assistants, alongside the emergence of telerobots, present significant growth avenues for market players. Despite these favorable dynamics, concerns regarding data security and confidentiality pose challenges to market expansion.

Addressing Healthcare Disparities:

The closure of numerous rural hospitals underscores the pressing need for accessible healthcare solutions. AHA data reveals the closure of 136 rural hospitals between 2010 and 2021, with 19 closures occurring in 2020 alone. Factors such as low reimbursement rates, staffing shortages, and regulatory hurdles contribute to these closures, exacerbating healthcare disparities. Moreover, demographic shifts, including an aging population and physician shortages, further underscore the importance of telehealth in bridging healthcare gaps.

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Strategic Insights:

The report provides comprehensive insights into market dynamics, including component analysis, application trends, and strategic developments within the industry. Key market players profiled in the report include Aerotel Medical Systems, Cerner Corporation, Medtronic plc, Koninklijke Philips N.V., and American Well Corporation, among others.

Segmental Analysis:

The North America Telehealth Market is segmented based on components, applications, end users, and country-specific insights. Key segments include:

Component: Services, Hardware, Software

Application: Psychiatry, Radiology, Cardiology, Primary Care, Dermatology

End User: Healthcare Providers, Healthcare Payers, Consumers

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Future Outlook:

The U.S. is poised to emerge as the fastest-growing market within North America, driven by factors such as physician shortages, chronic disease prevalence, and government reforms. The country's aging population, projected to reach over 80 million by 2040, underscores the critical role of telehealth in ensuring access to quality healthcare.

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