Telestroke Services Market Report 2024 - Telestroke Services Market Growth And Trends

"The Business Research Company recently released a comprehensive report on the Global Telestroke Services Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The telestroke market size has grown rapidly in recent years. It will grow from $1.47 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to highly developed healthcare infrastructure, regular reimbursement methods, favorable legislation, shortage of stroke specialists in rural and underserved areas, and urgent need to reduce time to treatment.

The telestroke market size is expected to see rapid growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 14%. The growth in the forecast period can be attributed to the growing demand for telehealth, growing patient preference for virtual stroke consultations and guidelines by healthcare organizations, the low-cost benefits of telestroke services, the adoption of time-sensitive and effective work processes for telestroke services, and a rise in research. Major trends in the forecast period include research and development activities, internet of things (IoT) integration, advancements in video conferencing, image sharing, and telemedicine platforms, artificial intelligence (AI) and machine learning (ML), and cloud-based storage and data analytics.

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Market Drivers and Trends:
The rising number of patients with cardiac disorders will propel the growth of the telestroke services market going forward. Cardiac disorders refer to a range of conditions that affect the heart's structure and function. Telestroke services help manage cardiac disorders by providing remote access to specialized care. Cardiologists can diagnose and treat cardiac conditions promptly through real-time video consultations and data transmission, particularly in rural or underserved areas. For instance, in April 2023, according to the British Heart Foundation, a UK-based cardiovascular research charity, the overall number of deaths in Scotland from all heart and circulatory illnesses was 17,639 in 2021, up from 17,448 in 2020. In addition, the number of deaths from coronary heart disease in the UK in 2021 will be 65,579, up from 64,170 in 2020. Therefore, the rising number of patients with cardiac disorders is driving the growth of the telestroke services market.

Major companies operating in the telestroke services market are focusing their efforts on introducing innovative technologies, such as telestroke services with image-sharing technology, to enhance diagnostic accuracy, improve patient outcomes, and ensure rapid treatment for stroke patients. Telestroke services using image-sharing technology refer to a network that employs digital tools for two-way, high-resolution video teleconferencing. For instance, in February 2024, Guam Regional Medical City, a US-based regional hospital, launched 24-hour telestroke services. It provides round-the-clock access to certified neurologists. The key features include high-speed audio or video conferencing and image-sharing technology, which allow specialists to evaluate, diagnose, and collaborate with on-site doctors to manage stroke patients' care.

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Major Key Players of the Market:
Providence Health & Services, Teladoc Health Inc, Vituity, Enghouse Video (Enghouse Systems), DispatchHealth, American Well Corporation, Definitive Healthcare, ScienceSoft, Capsa Healthcare, Access TeleCare LLC, Relias Media, Eagle Telemedicine, Caregility, TeleSpecialists LLC, GlobalMedia Group LLC, RapidAI, AmplifyMD, Sevaro Health Inc, Tenovi, Bluesky Health, swyMe, VeeOne Health, American TelePhysicians (ATP), RemoteICU, Alina TeleHealth

Telestroke Services Market 2024 Key Insights:
• The telestroke market size is expected to see rapid growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 14%.
• Increasing Cardiac Disorders Fuel Growth In Telestroke Services Market
• Innovative Image-Sharing Telestroke Services Enhance Stroke Care And Diagnostic Accuracy
• North America was the largest region in the telestroke market in 2023

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This release was published on openPR.