Telehealth Market to Show Over 27% CAGR Growth to 2021 Led by North America

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PUNE, India, December 5, 2016 /PRNewswire/ --

The worldwide market of Telehealth is propelling on a high (27.5%) CAGR to the year 2021 driven by growth in geriatric population, rising prevalence of chronic diseases and dearth of healthcare professionals worldwide while North America is expected to account for the largest share of the global market. 

Complete report on global telehealth market spread across 208 pages, profiling 14 companies and supported with 130 tables and 41 figures is now available at http://www.reportsnreports.com/reports/403164-telehealth-market-by-component-hardware-blood-glucose-meters-software-integrated-services-remote-monitoring-real-time-interactions-end-user-providers-patients-by-delivery-mode-on-premise-web-cloud-trends-global-forecast-to-2020.html .

The healthcare industry is undergoing a fundamental transformation globally-a shift from a volume-based business to a value-based business. Growing demands from consumers for improved healthcare quality and greater value are forcing healthcare providers and payers to deliver optimized outcomes. 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 telehealth market is projected to reach USD 9.35 billion by 2021 from USD 2.78 billion in 2016, at a CAGR of 27.5% in the next five years (2016 to 2021).In 2016, North America is expected to account for the largest share of the global telehealth market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In the U.S., the telehealth market is driven by the rising healthcare costs, upcoming regulatory policies, shortage of physicians, growth in geriatric population, implementation of the Affordable Care Act (ACA), and increasing funding for telehealth. In Canada, the growth of the telehealth market is driven by the rising healthcare spending, and growing number of conferences and events that are generating awareness about telehealth services in the country.

Growth in geriatric population, rising prevalence of chronic diseases, dearth of healthcare professionals worldwide, improvements in telecommunication infrastructure, technological advancements, benefits of telehealth, and need for affordable treatment options due to rising healthcare costs are some factors expected to drive the growth of the global telehealth market in the coming years.

In the coming years, the telehealth market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on India, China, and Japan. This can be attributed to factors such as growth in geriatric population in Japan, favorable initiatives for the adoption of telepathology in China, and low doctor-patient ratio and high internet penetration in India. Furthermore, increasing number of HCIT programs and rising prevalence of chronic diseases in Australia; growing medical tourism in India, Malaysia, Singapore, and Thailand; and increasing funding for telehealth in Australia are additional drivers for the telehealth market in the Asia-Pacific region.

The report includes the study of key players offering telehealth services such as Philips Healthcare (The Netherlands), Medtronic plc (Ireland), Honeywell Life Care Solutions (U.S.), Tunstall Healthcare (U.K.), Care Innovations (U.S.), Cerner Corporation (U.S.), Cisco Systems, Inc. (U.S.), Medvivo Group Ltd. (U.K.), GlobalMedia Group, LLC (U.S.), Aerotel Medical Systems Ltd. (Israel),  AMD Global Telemedicine, Inc. (U.S.), American Well (U.S.), In Touch Health (U.S.), and Vidyo, Inc. (U.S.)  Order a copy of Telehealth Market by Component (Hardware (Blood Glucose Monitors), Software (Integrated), Services (Remote Monitoring, Real-time Interactions)), End User (Providers, Payers, Patients), & Mode of Delivery (Web, Cloud)) - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=403164 .

The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies [agreements, collaborations, mergers, partnerships, and alliances; new product launches; marketing and promotional activities; acquisitions; and other strategies (including product enhancements, expansions, market developments, funding, approvals, investment, contract extensions, website launches, client acquisitions, and accreditations) to increase their market shares and establish a strong foothold in the global market. 

The report includes in-depth competitive analysis of these key players in the telehealth market, with their company profiles, SWOT analysis, recent developments, and key market strategies. In the process of determining and verifying, the global telehealth market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (50%), Tier 2 (42%) and Tier 3 (8%) companies were contacted for primary interviews. The interviews were conducted with various key people such as Director Level (58%), C Level (25%) and others (17%) from various key organizations operating in the global telehealth market. The primary interviews were conducted worldwide covering regions such as North America (46%), Europe (31%), APAC (15%) and RoW (8%).

On a related note, another research on Healthcare IT Solutions Market Forecast to 2020 says, the global healthcare IT market is poised to reach USD 228.79 billion by 2020 at a CAGR of 13.4% during the forecast period (2015 to 2020). The growth of market is mainly driven by the increasing demand for clinical HCIT solutions. North America is the largest regional segment of the global healthcare IT solutions market; it accounted for the largest share of the market in 2015. Companies like McKesson Corporation, Allscripts Healthcare Solutions, Inc., athenahealth, Inc., Epic Systems Corporation, GE Healthcare, Siemens Healthcare, Cerner Corporation and Carestream Health have been profiled in this research report available at http://www.reportsnreports.com/reports/669305-healthcare-it-solutions-market-tracker-by-product-ehr-pacs-interoperability-healthcare-analytics-telemedicine-crm-market-size-adoption-trends-competitive-landscape-market-share-analysis-product-portfolio-assessment-forecast-to-2020.html .

Explore more reports on the Healthcare market at http://www.reportsnreports.com/market-research/healthcare/

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