Telehealth Market Size, Industry & Landscape Outlook, Revenue Growth Analysis to 2028-Emergen Research
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Increasing focus by leading players to bring about innovation in the digital diagnostic industry is one of the
VANCOUVER, BRITISH COLUMBIA, CANADA, September 8, 2022 /EINPresswire.com/ -- Increasing focus by leading players to bring about innovation in the digital diagnostic industry is one of the major factors driving revenue growth of the telehealth market
The global telehealth market size reached USD 70.5 Billion in 2020 and is expected to register a revenue CAGR of 29.2% during the forecast period, according to latest analysis by Emergen Research.
Rising healthcare expenditure and increasing prevalence of chronic diseases are some of the major factors boosting revenue growth of the market. In addition, significant increase in government expenditure on healthcare information Technology (HCIT) sector and rising focus among key players toward bringing innovation into digital diagnostics is further driving market growth. Moreover, continuous advancements in medical diagnostic technologies are projected to create lucrative opportunities for the growth in the near future.
The COVID-19 pandemic has resulted in increasing demand for telemedicine consultations among patients. For example, Apollo TeleHealth has reported a three-fold increase in teleconsultation demand through their different projects and initiatives during the COVID-19 lockdown since March 2020. These factors are also contributing to growth of the telehealth market.However, lack of trained professionals in remote areas, privacy and information security concerns, and low availability of telecommunication bandwidth are major factors adversely affecting growth of the target market.
The global Telehealth market report by Emergen and Research is the latest document covering the changes in the market dynamics and trends that have followed the COVID-19 outbreak. The global health emergency has brought about unprecedented changes in the global economic scenario, drastically affecting the Telehealth market landscape, disrupting its supply chains, and causing volatility in prices and demand for products. The report analyzes the impact of the pandemic on the Telehealth industry and highlights its beleaguered segments. However, our analysts speculate that the market will regain traction in the post-COVID scenario.
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Leading Players Profiled in the Report:
Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland),GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers (Germany), Cisco Systems, Inc. (US), Teladoc Health Inc. (US), American Well (US), AMC Health (US), MDLive (US), Doctor on Demand (US), Medvivo Group Ltd (UK), Asahi Kasie Corporation (Japan), Iron Bow Technologies (US), Telespecialists Llc (US), GlobalMed (US), MedWeb (US), IMediplus Inc. (China), Vsee (US), Chiron Health (US), and Zipnosis (US).
Telehealth Market Segmentation:-
Emergen Research has segmented global telehealth on the basis of type, component, deployment model, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Tele-Home
Tele-Hospital
Component Outlook (Revenue, USD Billion; 2018–2028)
Services
Remote Patient Monitoring
Store-and-forward
Live Video-Conferencing
Mobile Health
Software
Integrated Software
Standalone Software
Hardware
In-home messaging device
Video telemonitor
Interactive Voice Response (IVR)
Medical Peripheral Devices
Blood Pressure Monitors
Blood Glucose Monitors
Weighing Scales
Pulse Oximeters
Peak Flow Meters
ECG Monitors
Other Devices
Deployment Model Outlook (Revenue, USD Billion; 2018–2028)
Web & Cloud-based
On-premises
Application Outlook (Revenue, USD Billion; 2018–2028)
Radiology
Cardiac Monitoring
Primary/Urgent Care
Neurophysiological Monitoring
Remote ICU
Mental Health
Other Applications
End-use Outlook (Revenue, USD Billion; 2018–2028)
Healthcare Providers
Healthcare Payers
Patients
Other End-us
Telehealth Market Key Highlights
Tele-home segment revenue is expected to expand at rapid CAGR during the forecast period owing to the COVID-19 pandemic.
Software segment is expected to register a significantly robust revenue growth rate over the forecast period. The software segment is further sub-segmented into integrated software and standalone software. Integrated software has higher adoption rate than standalone software due to wider range of applications and cost-effectiveness. Some of the examples of integrated systems are exam cameras, networked devices & software, and telehealth stations.
In August 2021, TeleSpecialists, LLC, which is a national leader in hospital-based telemedicine and quality management services, announced the launch of their TelePsychiatry services in hospitals for adult, adolescent, and pediatric patients.
North America is expected to register a considerably steady revenue growth rate in the global telehealth market over the forecast period due to presence of major telehealth system providers such as GE Healthcare, IDEXX Laboratories, Inc., Carestream Health, Inc., and Diagnostic Imaging Systems, Inc., among others.
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Market Size – USD 70.5 Billion in 2020, Market Growth – at a CAGR of 29.2%, Market Trends – increasing adoption of technologies in the wake of COVID-19
Telehealth Market Regional Landscape:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Telehealth market, including the global and regional analysis of the market. The study covers critical information and factual data about the Telehealth industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Telehealth market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Telehealth industry.
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