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.
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?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage 4.1 Market Definition 4.2 Base Year 4.3 Scope Of The Study
7 Introduction 7.1 Overview 7.2 Global Telehealth Market: Snapshot
8 Impact Of COVID-19 8.1 Overview
9 Market Opportunities & Trends 9.1 Major Expansions Of Reimbursement For Telehealth Services 9.2 Strategic Acquisitions & Collaborations 9.3 Emergence Of Telehealth Robots And Robotic Platforms 9.4 Increasing Demand For Telehealth Due To COVID-19 Pandemic Crisis
10 Market Growth Enablers 10.1 Growing Target Patient Pool 10.2 Increasing Number Of mhealth Applications 10.3 Growing Demand For Remote Patient Monitoring Platforms And Connected Medical Devices 10.4 Advances In Technology Encouraging Adoption Of Telehealth
11 Market Restraints 11.1 Uncertainty Over Establishing Standard Regulatory Frameworks & Legal Barriers To Telehealth 11.2 Lack Of Standard Interoperability In Telehealth Infrastructure 11.3 Data Security And Privacy Risks Associated With Telehealth 11.4 Lower Penetration Of Telehealth In LMICS
30 Key Company Profiles 30.1 AMD Global Telemedicine 30.2 American Well 30.3 Biotelemetry 30.4 Global Media Group 30.5 Koninklijke Philips 30.6 Resideo Life Care Solutions 30.7 Medtronic 30.8 Teladoc Health 30.9 Intouch Technologies 30.10 Vivify Health
31 Other Prominent Vendors 31.1 Abbott 31.2 Accuhealth Technologies 31.3 A&D Company 31.4 Advanced ICU Care 31.5 Aerotel Medical Systems 31.6 Agamatrix 31.7 Airstrip Technologies 31.8 ALI Health 31.9 Alivecor 31.10 Altibbi 31.11 Analoge Eclipse Consultants 31.12 Appello 31.13 AT&T 31.14 Athenahealth 31.15 Babylon 31.16 Biotronik 31.17 Boston Scientific 31.18 Biotricity 31.19 BUOY Health 31.20 Callhealth Services 31.21 Care Innovations 31.22 Cerner 31.23 CHI Health 31.24 Current Health 31.25 Dhanush Digital Health 31.26 Dictum Health 31.27 Doconline Health 31.28 Docprime 31.29 Doctor Anywhere 31.3 Doctor On Demand 31.31 Edgemed Healthcare 31.32 Encounter Telepsychiatry 31.33 EVISIT 31.34 GE Healthcare 31.35 Graham Healthcare Group 31.36 Halodoc 31.37 Harris Computer 31.38 Healthhub 31.39 Healthtap 31.40 Health Telematic Network 31.41 Hotdoc 31.42 IMEDI PLUS 31.43 INOVA 31.44 Integrity Urgent Care 31.45 INTELEICU 31.46 ISELECTMD 31.47 KRY 31.48 Lybrate 31.49 Maple 31.50 Masimo 31.51 MDLIVE 31.52 Medgate 31.53 MEDICI 31.54 MEDIHERE 31.55 Medtel Healthcare 31.56 MEDXCOM 31.57 MEMD 31.58 Mercy Virtual 31.59 MESDOCTEURS 31.60 MFINE 31.61 MOUTHWATCH 31.62 MTBC 31.63 MYDOC 31.64 Nextgen Healthcare 31.65 Omron Healthcare 31.66 Ping An Healthcare And Technology Company 31.67 PLUSHCARE 31.68 PATIENTUS 31.69 Push Doctor 31.70 QHR Technologies 31.71 Qualcomm Life 31.72 SHL Telemedicine 31.73 Siemens Healthineers 31.74 SNAPMD 31.75 SOC Telemed 31.76 Spacelabs Healthcare 31.77 Teleclinic 31.78 TELEICUCARE 31.79 Telemedicine Technologies 31.80 Telespecialists 31.81 Televital 31.82 Telus Health 31.83 THA GROUP 31.84 UPMC ITALY 31.85 VIDYO 31.86 VSEE 31.87 Virtualhealth 31.88 VIRTUWELL 31.89 VITALTECH 31.90 Vivalnk 31.91 Zipnosis