Telehealth Market Research Report with Outlook, Strategies, Challenges, Geography Trends
The global telehealth market is expected to exhibit a
whopping 29.8% CAGR over the forecast period from 2018 to 2023, according to a
new research report released by Market Research Future (MRFR). The global
telehealth market is primarily driven by the growing prevalence of chronic
diseases, which is driving the demand for convenient ways of bringing the
patient and the doctor in touch so as to discuss the progress of the
rehabilitation, and the rapid rise in the technological development of advanced
telecommunications options, making sophisticated, futuristic telehealth
services possible.
The global telehealth
market has been driven by the growing prevalence of chronic diseases, which
necessitate regular checkups with physicians to keep track of the patient’s
progress and to discuss medication according to the severity of the condition.
This leads to a considerable expenditure on both ends, as the cost of providing
healthcare services as well as making the regular trips to the physician’s
office are generated. Telehealth options help bring down the costs of
patient-physician interaction considerably by enabling the two parties to
communicate from their own stations, regardless of the geographical distance
between them. The high convenience of telehealth solutions for patients
suffering from chronic diseases is likely to be a major driver for the global
telehealth market over the forecast period.
The rapid development of sophisticated telecommunications
solutions to enable refined and smooth telehealth networking is also likely to
be a major driver for the global telehealth market over the forecast period.
The telecommunications industry has enjoyed robust growth over the last few
years due to the growing consumer demand, which has driven a rising amount of
investment in the upgradation and enhancement of operations. This has led to
the development of wireless connectivity across major regions, enabling easy
installation of telehealth equipment in rural areas, where the need for telehealth
solutions is most keenly felt. The sustained growth of the telecommunications
industry is likely to be a major driver for the global telehealth market over
the forecast period, as the availability of sophisticated equipment is a must
for effective implementation of telehealth solutions.
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Competitive Analysis:
The leading players in the global telehealth market include
InTouch Technologies Inc., AMD Global Telemedicine Inc., Siemens Healthcare
Private Limited, GlobalMedia Group LLC, Cerner Corporation, Care Innovations
LLC, McKesson Corporation, General Electric Company, Medtronic, and Koninklijke
Philips N.V.
Industry Updates:
In April 2019, the Medical University of South Carolina
received a federal grant of USD 3.6 million to create a nationwide database of
pediatric telehealth research.
Also in April 2019, the Arizona government passed a law
extending telehealth insurance to all medical specialties.
Government support in the form of regulatory initiatives and
monetary support is likely to play a key role in the development of the global
telehealth market over the forecast period.
Segmentation:
The global telehealth market is segmented on the basis of
components, types, end users, and region.
On the basis of component, the global telehealth market is
segmented into hardware, software, and others. The hardware segment is further
sub-segmented into monitors, medical devices, and others; monitors are further
segmented into blood glucose monitors, blood pressure monitors, ECG monitors,
and others.
On the basis of types, the market is segmented into
web-based, on-premise, and cloud-based.
On the basis of end use, the telehealth market is segmented
into hospitals and clinics, pharmaceutical companies, and others.
Regional Analysis:
The global telehealth market is segmented by region into the
Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas is
likely to remain the leading revenue generator over the forecast period due to
the widespread availability of telehealth services in the region. The region
accounted for 40% of the global telehealth market in 2017 and is likely to
retain a similar level of dominance throughout the forecast period. The strong
position of the telecommunications industry in the U.S. and Canada is likely to
be a major boost to the telehealth market in the region.
Browse Detailed TOC
with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/telehealth-market-900
About Market Research Future:
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Contact:
Akash Anand
Market Research Future
+1 646 845 9312
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