Market Analysis
A comprehensive analysis of the Global Telehealth Market along with the future aspects of the market are described in the report that is published recently. The market report provides information on the various factors and facts that responsible for the changes occurring in the Telehealth Market.
Telehealth could be used efficiently for the diagnosis, treatment, and supportive treatment of chronic diseases such as diabetes and cancer. Chronic diseases decrease a person’s quality of life, particularly if left undiagnosed or untreated. Telehealth can be used to address increasing demand for healthcare services for cancer, diabetes, and other diseases in the developing regions. Thus, high incidence of such diseases are estimated to be driving market growth during the forecast period.
According to study, the Global Telehealth Market is expected to register a CAGR of 22.74% to reach 16,173.8 Million by 2024.
The web/cloud-based segment held a large share due to the wide preferability, whereas the on-premise segment is projected to be the fastest-growing due to the increasing awareness among hospital management. The radiology segment held a major share owing to the increased use of telehealth technology in the radiology field, whereas the cardiology segment predicted the fastest growing owing to the rise in cardiovascular diseases. Hospitals and clinics segment held a major share due to the increasing number of hospitals employing the use of telehealth software, whereas the diagnostic clinics segment is expected to be the fastest-growing segment due to the increasing propensity to telehealth services.
Telehealth is the use of digital information and communication technologies to access healthcare services at a distance for the management of health. Telehealth connects patients to fundamental healthcare services through remote monitoring, video conferencing, electronic consultations, and wireless communications. Factors such as the increasing incidence of chronic diseases, the rise in geriatric population, and the shortage of physicians are the major drivers driving the market growth. Nevertheless, privacy and security concerns and strict government rules for telehealth services could hinder market growth during the forecast period.
Major Players
Philips Healthcare (Netherlands), Cerner Corporation (US), Dialogue (Canada), Maple (Canada), Cisco Systems Inc. (US), and Livecare Health (Canada), Honeywell International Inc. (US), AMD Global Telemedicine Inc. (US), Siemens (Germany), Allscripts Healthcare Solutions (US), Boston Scientific Corporation (US), American Well (US), GlobalMed (US), Care Innovations LLC (US), InTouch Technologies Inc. (US), Medtronic PLC (Ireland), Right Health (Canada) are some of the major players in the global telehealth market.
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Market Segmentation
Global Telehealth Market has been segmented by Component, Mode of Delivery, by Application, by Region.
By component the market has been segmented into Services (categorized into Remote Monitoring, Real-Time Interactions and Store-and-Forward Consultations, Hardware), Monitoring Devices (sub-categorized into Stationary and Wearable), Medical Peripherals ( subcategorized into Blood Pressure Monitors, ECG Monitors, Pulse Oximeters, Blood Glucose Meters, Peak Flow Meters, Otoscopes and Others) and Software ( that has been sub categorized into Integrated Software and Standalone Software).
Based on Mode of Delivery the Global Telehealth Market has been segmented into Web/Cloud-Based and On-Premise.
Based on Application the Global Telehealth Market has been categorized into Radiology, Cardiology, Primary Care, Neurophysiology and Others).
Based on region the Global Telehealth Market has been split into different regions like Americas, Europe, Asia-Pacific, Middle East & Africa. Americas include North America (US & Canada) and Latin America, Europe include Western Europe (Germany, UK, France, Italy, Spain and Rest of Western Europe) and Eastern Europe. Asia-Pacific including China, Japan, India, Australia, South Korea and Rest of Asia-Pacific, Middle East & Africa.
Regional Analysis
Geographically, the global telehealth market has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is estimated to dominate the global telehealth market. This may be attributed to the increasing adoption of telehealth services in the US. The Europe market for telehealth is expected to become the second largest market. The paradigm shift toward a more orderly and ongoing healthcare monitoring is projected to be the main factor for the growth of the market extensively. Asia-Pacific estimated to be the fastest-growing region in the global market due to the rise in the geriatric population, an increasing incidence of chronic diseases, and a shortage of technical personnel. The Middle East & Africa is forecast to witness a steady increase due to the limited access and healthcare affordability among the population.
Table of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Telehealth Market, by Component
7 Global Telehealth Market, by Mode of Delivery
8 Global Telehealth Market, by Application
9 Global Telehealth Market, by End User
10 Global Telehealth Market, by Region
11 Competitive Landscape
12 Company Profiles
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