Global Telehealth Market Growing at 24% CAGR to 2020

Aug 13, 2015, 06:30 ET from Market Reports Hub

CHICAGO, August 13, 2015 /PRNewswire/ --

Worldwide telehealth market is forecast to be worth $6.5 billion by 2020 with an estimated CAGR of 24.2% from a value of $2.2 billion in 2015 with healthcare industry undergoing a fundamental transformation of value based business from volume based business.

Complete report on telehealth market spread across 196 pages, profiling 11 telehealth companies and supported with 84 tables and 42 figures is now available at http://www.marketreportshub.com/telehealth-industry-research-marketsandmarkets.html .

The major factors driving the growth of telehealth market across the globe are rise in the aging and chronically ill population, the shortage of physicians in the U.S., uneven physician distribution worldwide, improvement in telecommunication infrastructure, technological advancements, rising healthcare costs, and awareness on the benefits of tele-health. However, certain barriers, such as limited reimbursement in the U.S. and legality, privacy, and security concerns worldwide, are restraining the growth of this market.

In 2015, the North American telehealth market is expected to command the largest share of the global market, followed by Europe and Asia-Pacific. Asia-Pacific is the fastest-growing region in this market. The rapidly growing healthcare industry in India, increasing number of HCIT programs, the rising prevalence of chronic diseases in Australia, and increasing funding for telehealth in Australia will drive the growth of this market in Asia. Based on component, the services segment is expected to be the largest (in 2015). However, the software segment will be fastest-growing component segment. Among the hardware segments, monitors are expected to dominate the telehealth market in 2015. However, the medical peripheral devices segment is expected to be the fastest-growing (during 2015 to 2020). Based on medical peripheral devices, the blood pressure meters segment is expected to be the largest and the fastest-growing (during 2015 to 2020). Based on software, the integrated solutions segment is expected to be the largest (in 2015) and the fastest-growing (during 2015 to 2020). Based on services, the remote monitoring segment is expected to be the largest (in 2015). However, the real-time interaction segment will be fastest-growing component segment. Based on the mode of delivery, the web-based solutions segment is expected to dominate the telehealth market in 2015. However, cloud-based solutions will be the fastest-growing delivery mode. Among end users, the providers segment is expected to be the largest (in 2015) and the fastest-growing (during 2015 to 2020).

Companies discussed in this 2015 telehealth market research report include Cerner Corporation (U.S.), GE Healthcare (U.K.), Honeywell Life Care Solutions (U.S.), McKesson Corporation (U.S.), Medtronic, Inc.(U.S.), the Medvivo Group (U.K.), Philips Healthcare (Netherlands), Robert Bosch Healthcare (U.S.), Siemens Healthcare (Germany), Cisco Systems, Inc.(U.S.), and Tuns tall Healthcare (U.K.). Order a copy of Telehealth Market Report by Component, Software, Services, End User & by Delivery Mode  - Trends & Global Forecast to 2020 at http://www.marketreportshub.com/purchase?rpid=2964 .

Growing demands from consumers for improved healthcare quality and greater value are forcing healthcare providers and payers to deliver optimized outcomes. In addition, while the number of hospital admissions is rising globally, healthcare infrastructure is not growing at a similar pace, which has added to the burden on healthcare systems. In order to overcome these challenges and meet consumer expectations, healthcare providers are increasingly adopting telehealth solutions that enable them to provide improved healthcare at reduced costs. The global telehealth market is expected to grow at a CAGR of 24.2% from 2015 to 2020 to reach $6.5 billion by 2020 from $2.2 billion in 2015.Over the years, the healthcare industry has recognized that traditional approaches to patient care, quality assurance, and cost management are inefficient in the face of emerging challenges. Therefore, telehealth solutions will be among the priorities on the investment list of healthcare organizations seeking to streamline the telehealth process and ensure effective cost management.

On similar lines for the life sciences market, MarketReportsHub.com has other newly published as well as relevant research titles that might be of interest:

Push Telecommunications for Tele-Medicine (PTT) and M-Health Market Shares, Strategies, and Forecasts, Worldwide, 2015 to 2021: This 2015 study has 815 pages, 259 tables and figures and says telemedicine, telehealth, and M-health markets at $1.5 billion in 2014 are anticipated to reach $45.4 billion by 2021. M-Health markets related to telemedicine will grow the fastest, leveraging 9.5 billion smart phones and 5 billion connected tablet devices installed all over the world by 2021. Worldwide Tele-medicine and M-health PTT push market driving forces relate to the improved effectiveness of remote communications in all industries. A clinical reimbursement addressing mobile health initiative for chronic conditions - this trend promises to become prevalent as people learn how to keep themselves healthier. Healthy behaviors such as exercise, good diet and stress management have the potential to reverse aging on a molecular level and partly restore the vitality of a person's cells. Market leading companies like Polycom, Huawei, Cisco, Logitech / Lifesize, Teledoc, InTouch, GlobalMed, Cardiocom, Philips, iRobot, Kyocera and Samsung are profiled in this research available at http://www.marketreportshub.com/push-telecommunications-tele-medicine-ptt-m-health-market-wintergreen-research.html .

Behavioral/Mental Health Software Market by Delivery Mode (Ownership & Subscription), Functionality (EHR, CDS, Telehealth, Payroll, RCM, Ledger, BI, Workforce & Case Management), End User (Hospitals, Clinics, Health Plans, Residential) - Forecasts to 2019: The behavioral health software market is expected to reach $1,494.1 million by 2019 from $752.6 million in 2014, at a CAGR of 14.7%. The subscription model segment is expected to register the highest growth rate in the behavioral health software market, by delivery model, during the forecast period. This favorable growth is attributed to its data centralization capabilities, greater level of interoperability, automatic software up-gradations, and easy customization. Furthermore, subscription model offers cost-effectiveness due to the elimination of upfront cost of software and hardware. Companies like Cerner Corporation, Netsmart Technologies, Inc., Qualifacts Systems Inc., Valant Medical Solutions, Mindlinc, Welligent, Inc., Core Solutions, Inc., The Echo Group, Credible Behavioral Health, Nextgen Healthcare Information Systems, Llc (A Fully Owned Subsidiary Of Quality Systems, Inc.) and Epic Systems Corporation are profiled in this research report at http://www.marketreportshub.com/behavioral-mental-health-software-industry-research-marketsandmarkets.html .

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