Telehealth Market Research Report | Size & Share Forecast
The Telehealth Market is expected to grow at a CAGR of 37.7% over the forecast period.
The factors driving growth of the Telehealth Market includes increasing penetration of smartphones, rising prevalence of chronic diseases around the world, Government expenditure to enhance the healthcare services, transition from traditional to virtual care strategies and improvements in the living standards. As per the Center for Medicare and Medicaid Services, expenditure by the Government of United States has increased from USD 3.81 Trillion in 2019 to 4.01 Trillion in 2020, which will accelerate the Telehealth Market share in the approaching years. Moreover, technological advancements in warble remote monitoring devices, increasing popularity of self-monitoring applications, gradual shift towards home care services, rise in the number of start-ups and rapid urbanization, are some of the additional factors supplementing the Telehealth Market Growth. In addition, the increasing investments by major corporations on research and development, rise in the launch of innovative products and growing disposable incomes, are further propelling the Telehealth Market size.
However, growth of the Telehealth Market is hindered due to lack of expertise to operate 4complex devices.
The major players operating in the market are Tunstall Healthcare, Care Innovations, Globalmedia Group LLC, Medtronic PLC, Honeywell Life Care Solutions, AMD Global Telemedicine Inc., Cerner Corporation, Cisco Systems Inc., Medvivo Group Ltd., Philips Healthcare, and Aerotel Medical Systems Ltd., among others.
Based on Application, the Teleradiology is predicted to capture the largest market share during the forecast period
Increasing use of telehealth solutions for imaging practices and growing adoption of teleradiology services by healthcare institutions, are propelling segment’s growth.
Based on End-Users, the Providers segment is projected to expand at a remarkable CAGR over the forecast period
As per the Telehealth Market Forecast, technological advancements in telehealth monitoring devices and rising number of tele-specialty services, are pushing segment’s growth.
Based on Region, the North American region is projected to hold the highest market share in next 7 years
According to the Telehealth Market Analysis, increasing prevalence of chronic diseases across United States and Canada, rising geriatric population, proliferation of smartphones and tablets and high per capita incomes, are driving the market growth in the North American region.
Segmentation by Component
Segmentation by Mode of delivery
Segmentation by Application
Segmentation by End-User
Segmentation by Region
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