DUBLIN--(BUSINESS WIRE)--The "Telehealth Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The telehealth market by revenue is expected to grow at a CAGR of over 28% during the period 2019-2025.
With rapid advances in telecommunication technology, telehealth is considered as the future of medicine. The growing incidence of chronic medical conditions such as diabetes and hypertension is influencing market growth worldwide. Telehealth is one of the useful tools for continuous monitoring of chronic conditions and treatment. The adoption of telemedicine is likely to rise with the penetration of smart gadgets. Telemonitoring is used to monitor congestive heart failure (CHF), tele stroke for stroke condition, and tele pulmonology for chronic obstructive pulmonary disease.
With the eruption of the COVID-19 pandemic, health service providers are utilizing telehealth services that connect doctors and patients remotely. As social distancing and nationwide lockdown in several countries have recently been implemented as a preventive measure for the spread of the virus, these services have become the most effective way for disease management without visiting healthcare centers physically.
The following factors are likely to contribute to the growth of the telehealth market during the forecast period:
- Major Expansions of Reimbursement for Telehealth Services
- Strategic Acquisitions & Collaborations
- Emergence of Telehealth Robots and Robotic Platform
- Increasing Number of mHealth Applications Fueling the Telehealth Adoption
The study considers the present scenario of the telehealth market and its market dynamics for the period 20192025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Telehealth Market Segmentation
The global telehealth market report includes a detailed segmentation by modality, component, delivery mode, end-user, and geography. The real-time virtual health segment is expected to grow at the highest CAGR during the forecast period. The growing incidence of chronic diseases such as cardiovascular disease and strokes impacts the market growth for real-time virtual health. Telemedicine is one of the useful tools for monitoring health conditions and treatment. The adoption of telemedicine is expected to rise with advances in technology and high penetration of smart gadgets across the world. The segment is further categorized into video, audio, and chat/e-mail.
Insights by Geography
North America is the largest market and offers significant growth opportunities for global and local players. In 2019, the region accounted for a share of 43.35% of the global telehealth market. With the outbreak of the coronavirus in North America, particularly in the United States, health agencies have urged hospitals to expand the use of telehealth services to prevent the spread of the virus. Radiology and cardiology are the two leading applications in the region.
Insights by Vendors
The global telehealth market is highly dynamic and fragmented due to the presence of several medical device manufacturers, software/application providers, and telehealth service providers. Medical device manufacturers are collaborating with software/application developers and service providers to enhance the quality of care to patients. The rapidly changing technological environment has a significant impact on the overall market as patients and clinicians are looking for remote healthcare platforms with innovative and advanced features. As the industry is witnessing a surge in technological advances in the field of telecommunications, vendors are focusing on invest in integrating hardware and software to improvise remote healthcare services to end-users.
- AMD Global Telemedicine
- American Well
- GlobalMedia Group
- Koninklijke Philips
- Resideo Life Care Solutions
- Teladoc Health
- InTouch Technologies
- Vivify Health
Key Questions Answered:
- What will be the market size and growth rate of the global telehealth market during the forecast period 2019 to 2025?
- How is the growing cloud and next-generation healthcare technology boosting the growth of the global telehealth market share?
- Which region is predicted to have the largest revenue?
- Who are the leading vendors in the industry and what are their market shares?
- How does the virtual visit system aid the healthcare practitioners during COVID-19 pandemic situation?
Opportunities & Trends
- Major Expansions Of Reimbursement For Telehealth Services
- Strategic Acquisitions & Collaborations
- Emergence Of Telehealth Robots And Robotic Platforms
- Increasing Demand For Telehealth Due To COVID-19 Pandemic Crisis
- Growing Target Patient Pool
- Increasing Number Of mhealth Applications
- Growing Demand For Remote Patient Monitoring Platforms And Connected Medical Devices
- Advances In Technology Encouraging Adoption Of Telehealth
- Uncertainty Over Establishing Standard Regulatory Frameworks & Legal Barriers To Telehealth
- Lack Of Standard Interoperability In Telehealth Infrastructure
- Data Security And Privacy Risks Associated With Telehealth
- Lower Penetration Of Telehealth In LMICS
For more information about this report visit https://www.researchandmarkets.com/r/krtx4j