Telehealth Market to grow at a CAGR of 29.3% between 2022 and 2027, North America is expected to contribute to 34% of the market growth - Technavio
NEW YORK, Nov. 1, 2023 /PRNewswire/ -- The telehealth market size is estimated to grow by USD 170.82 billion during 2022-2027. The market is expected to progress at a CAGR of 29.3% during the forecast period. North America is expected to contribute to 34% of the market growth during the forecast period. Factors like the adoption of advanced telehealth technologies, and the presence of prominent vendors are driving market growth in the region. As the number of healthcare professionals adapting to the technology is increasing, regional vendors are providing a range of solutions to meet the demand. Governments in the region are also launching programs for programs involving telehealth solutions. For instance, in April 2021, New Jersey governing boards for occupational therapy, respiratory care, counseling, and dentistry planned to consider a bill to broaden reimbursement for covered services offered through telehealth and introduce new flexibilities, such as reimbursement parity, distance, and location requirements. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
Vendor Analysis
The market is fragmented with the presence of various international and domestic vendors. Aerotel Medical Systems Ltd., American Well Corp., Appello Careline Ltd., Cerner Corp., Cisco Systems Inc., Dictum Health Inc., Enghouse Systems Ltd., Evernorth Health Inc., General Electric Co., Hewlett Packard Enterprise Co., Honeywell International Inc., Included Health Inc., Iris Telehealth, Koninklijke Philips NV, Medvivo Group Ltd., Resideo Technologies Inc., Siemens AG, Teladoc Health Inc., Tunstall Healthcare Group Ltd., and GlobalMed are among some of the major market participants.
Telehealth Market 2023-2027: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The telehealth market report covers the following areas:
What`s New for 2023?
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
Telehealth Market 2023-2027: Segmentation
- Product
- Services
- Solutions
- End-user
- Healthcare Providers
- Payers
- Patients
- Geography
- North America
- Europe
- Asia
- Rest Of World (ROW)
The services segment is estimated to be significant for the growth of the global telehealth market. The healthcare services included in this segment include live video conferencing, remote patient monitoring, and mHealth. These services enable healthcare professionals to provide effective and accurate consultations to many patients remotely. This service also helps healthcare professionals to attend administrative meetings, training sessions, and health administration. Rapid technological advances and improved internet services are majorly contributing to the growth of the segment.
Get a glance at the market contribution of various segments including country and region wise, historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report
Telehealth Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist telehealth market growth during the next five years
- Estimation of the telehealth market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the telehealth market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the telehealth market, vendors
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Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-User
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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