Diversification of service delivery in the healthcare sector has given way to the development of the telehealth market. Market focused reports related to the healthcare industry among others recently have been made available by Market Research Future which publishes reports on this industry. The market is expected to develop with a robust CAGR of 29.8% approximately in the forecast period.
Telehealth or Telemedicine is the remote diagnosis and treatment of patient that is used to deliver the virtual medical and health support, and education services. It is used in various specialty such as dentistry, counselling, home health, chronic disease monitoring & management, disaster management, and professional education.
The Global Telehealth Market is driven by increasing prevalence of chronic diseases, rising geriatric population, and continuous development in the healthcare technology; as per statistics, more than 50% of the total globe population have some or other chronic disease. Moreover, rapid development in the technology, increasing healthcare expenditure, and increasing need for the home based devices have fuelled the market growth.
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Telehealth Industry Updates:
May 2018 iCare Navigator which is an interactive patient engagement system that uses virtual health coaches trained by artificial intelligence (AI) to address the shortage of nurses has been launched recently by TeleHealth Services. With iCare Navigator, nurses are aided by virtual health coaches, so they can deal with more patients while refining patient engagement. Incorporation with the electronic medical record also permits providers to see more patients with chronic diseases.
Key players of Telehealth Market
Some of the major players in the Global Telehealth Market are Koninklijke Philips N.V. (the Netherlands), Medtronic (Ireland), General Electric Company (UK), McKesson Corporation (US), Care Innovations, LLC. (US), Cerner Corporation (US), GlobalMedia Group, LLC (US), Siemens Healthcare Private Limited (US), AMD Global Telemedicine, Inc. (US), InTouch Technologies, Inc. (US).
Global Telehealth Market Competitive Analysis
The continual delivery of customer value has enhanced the market value of the industry. The forecast for growth in the market appears to be promising through the forecast period. The growing levels of diversification in the industry, have permitted the companies to use many chances available in the industry. The market competitors are framing their plans for corporate strategy in a way can bring about the best value for growth in the current scenario, while also simultaneously improving their product’s value. The proficiency to fuel competitive capabilities is among the main reasons powering their efforts in this period. Moreover, the challengers are handling the competitive environment by driving the market growth elements to their advantage. The companies in this market are adapting to the state of events by employing portfolio upgrades and upholding financial fluidity.
Koninklijke Philips N.V. (the Netherlands), General Electric Company (UK), McKesson Corporation (US), Care Innovations, LLC. (US), Cerner Corporation (US), GlobalMedia Group, LLC (US), Medtronic (Ireland), Siemens Healthcare Private Limited (US), AMD Global Telemedicine, Inc. (US), InTouch Technologies, Inc. (US) are among the foremost contenders in the global telehealth market.
Regional analysis of Telehealth Market
On the regional basis the Global Telehealth Market is dominated by America owing to the presence of huge geriatric population and large number of people suffering from diabetes and other chronic respiratory diseases. Among all the regions in the world, the U.S. has been the first choice for the deployment of telehealth solutions due to established healthcare systems and technology advancement. It has gained a significant position in the global market with the increase in large numbers of telehealth services which target at wellness and fitness.
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Europe accounts for the second largest market for the Global Telehealth Market which is followed by Asia Pacific. The Germany is dominating the connected healthcare deployments in Europe, with different kinds of solutions being offered and services being delivered through varied means, from simple messages to much more complex apps.
Asia pacific has the fastest growth market due to the presence of rapidly developing economies like China and India. However, the Middle East and Africa has the least share in the market.
Some Brief Table of Contents of Telehealth Market
Chapter 1 Report Prologue
Chapter 2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
Chapter 3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
Chapter 4 Market Dynamics
Chapter 5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Bargaining Power Of Suppliers
LIST OF TABLES
Table 1 Telehealth Industry Synopsis, 2017 – 2023
Table 2 Global Telehealth Market Estimates And Forecast, 2017 – 2023, (USD Million)
Table 3 Global Telehealth Market By Region, 2017 – 2023, (USD Million)
Table 4 Global Telehealth Market By Component, 2017 – 2023, (USD Million)
Table 5 Global Telehealth Market By Type, 2017 – 2023, (USD Million)
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