The Global Telehealth Market to Progress at a CAGR of 31.57% by 2027 | DelveInsight

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Aug 03, 2022, 11:30 ET

The telehealth industry is predicted to grow due to a shift in population focus on cutting healthcare costs and an increase in government activities to establish telemedicine to enable increased access among the patient population. Furthermore, the abrupt onset of the COVID-19 pandemic, as well as the rising frequency of chronic diseases, will drive the telehealth market. Furthermore, the growing number of diagnostic telehealth platforms, physician shortages, and technological advances in the telehealth market around the world are expected to strengthen the telehealth market, adding to its expansion during the projected period of 2022-2027.

LAS VEGAS, Aug. 3, 2022 /PRNewswire/ -- DelveInsight's Telehealth Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies' market shares, challenges, Telehealth market drivers, barriers, and trends, and key Telehealth companies in the market.

Key Takeaways from the Telehealth Market Report

As per DelveInsight analysis, North America is anticipated to dominate the global Telehealth market during the forecast period.
Leading telehealth companies such as Tlaloc Health, Inc., Siemens, Cisco Systems, Inc., Koninklijke Philips N.V., IBM Corporation, Medtronic, Cerner Corporation, American Well, AMD Global Telemedicine, CareCloud, Inc., GlobalMed, Doctor On Demand by Included Health, Inc., Allscripts Healthcare, LLC, Derma2go, SOCTelemed, Inc., Honeywell International Inc., Plantronics, Inc., Carium., MEDICI, Practo, and several others are currently dominating telehealth market.
In June 2022, Joerns Healthcare, a healthcare technology and equipment services company, announced the addition of consulting telerespiratory services to its portfolio through an exclusive agreement with rtNOW. The telerespiratory will include registered, certified respiratory therapists to provide remote tele-connected delivery for proper device/therapy setup, ongoing use, and troubleshooting for caregivers and clinicians along the clinical pathway.
In May 2021, Teladoc Health, multinational telemedicine and virtual healthcare company, announced a partnership with Vivo to improve access to quality healthcare in Brazil, specifically through telemedicine.
In July 2020, Teladoc Health, Inc., the global leader in virtual care, announced that it has completed its acquisition of InTouch Health. Teladoc Health will use the telehealth capabilities of InTouch Health and will connect the care experience across in-patient, outpatient, and home care settings, ensuring greater access to high-quality care and better health outcomes.
In October 2020, Teladoc Health, the global leader in whole-person virtual care, announced that it has completed its merger with Livongo. By joining the market leaders in virtual care and applied health signals, the combined company becomes the only consumer and healthcare provider partner to span a person's entire health journey.

To read more about the latest highlights related to telehealth services, get a snapshot of the key highlights entailed in the Global Telehealth Market Report

Telehealth

Telehealth is described as the use of telecommunications and digital communication technologies to offer and facilitate health and health-related services such as medical care, provider and patient education, health information services, and self-care.

Telehealth provides consumers with quick access to health-related data. As a result, telehealth enables people to live better lives. It can also provide a healthcare provider with more direct access to crucial health data from patients, which can enhance health outcomes.

Telehealth Market Insights

North America is expected to have a considerable market share in the global telehealth market. A shift in public focus on cutting healthcare costs, as well as government measures to establish telemedicine to enable increased access among the patient population, will raise demand for telehealth in North America, leading to an increase in overall telehealth market growth.

Furthermore, the region's increased digitalization is likely to foreshadow worldwide telehealth market growth. Moreover, the increased patient burden necessitates the implementation of various telemedicine solutions by hospitals and clinicians.

In addition, rising demand for mobile technologies, increased patient adoption of home care, and a reduction in hospital visits in North America are likely to drive overall telehealth market growth during the forecasted period. Furthermore, the abundance of smartphones and mobile technology in the region allows for the use of clinical and lifestyle applications to assist, educate, and adopt healthy behaviours.

To know more about why North America is leading the market growth in the telehealth market, get a snapshot of the report Telehealth Solutions

Telehealth Market Dynamics

The telehealth market is experiencing increased product demand for a variety of reasons. One of the major telehealth market drivers, for example, is the unexpected breakout of the COVID-19 pandemic. Telehealth service has arisen as a vital component of healthcare in response to reducing the spread of coronavirus disease. Furthermore, the government's growing interest in telehealth, as well as the convenience it provides, are expected to drive demand for telehealth.

Moreover, increased government financing, as well as the engagement of policymakers, insurers, and health systems, has raised the demand for telehealth following the pandemic. In addition, telemedicine facilitates consultation by assisting patients with limited mobility. Healthcare is administered via technology by an off-site doctor, particularly for seniors with transportation issues. This even leads to a reduction in treatment costs.

However, a lack of awareness among the population living in distant places and obstacles such as privacy issues may stymie the expansion of the telehealth market.

Additionally, the continuing COVID-19 pandemic has considerably enhanced the telemedicine market, as the pandemic has multiplied the demand for telehealth globally. During pandemics, strict lockdown measures and isolation have raised telehealth market demand to avoid virus infection. Because of the aforementioned considerations, the leading telehealth market players accelerated the development of telehealth services, raising market demand for telehealth and, as a result, propelling telehealth market expansion during the forecast period of 2022–2027.

Get a sneak peek of the telehealth technology @ Telehealth Couselling

Scope of the Telehealth Market Report

Coverage: Global
Study Period: 2019–2027
Market Segmentation By Type: By Product (Hardwares & Softwares and Other Products) and By Telehealth Service (Teleconsulting and Telemonitoring)
Market Segmentation By Application: Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, and Other Services
Market Segmentation By Mode of Delivery: On-Premise Delivery and Web & Cloud-Based Delivery
Market Segmentation By End User: Healthcare Facilities and Homecare
Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
Key Telehealth Companies: Tlaloc Health, Inc., Siemens, Cisco Systems, Inc., Koninklijke Philips N.V., IBM Corporation, Medtronic, Cerner Corporation, American Well, AMD Global Telemedicine, CareCloud, Inc., GlobalMed, Doctor On Demand by Included Health, Inc., Allscripts Healthcare, LLC, Derma2go, SOCTelemed, Inc., Honeywell International Inc., Plantronics, Inc., Carium., MEDICI, Practo, among others
Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

DelveInsight Analysis: The global telehealth market size is expected to grow at a CAGR of 31.57% during the forecast period (2022–2027).

Which MedTech key players in the telehealth market are set to emerge as the trendsetter explore @ Telehealth Platforms

Table of Contents

1	Report Introduction
2	Executive summary
3	Regulatory and Patent Analysis
4	Key Factors Analysis
5	Porter's Five Forces Analysis
6	COVID-19 Impact Analysis on Telehealth Market
7	Telehealth Market Layout
8	Global Company Share Analysis – Key 3-5 Companies
9	Company and Product Profiles
10	Project Approach
11.	About DelveInsight

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DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.

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SOURCE DelveInsight Business Research, LLP