Global Telehealth Market Forecast to 2028
The Telehealth Market report provides information on market size, market share, revenue growth, and CAGR from 2021 to 2028. The report also provides key insights about the market's top companies, as well as a thorough SWOT analysis, Porter's Five Forces analysis, and feasibility analysis to provide readers with a competitive advantage. The report focuses on the current pandemic's recent trends, major challenges and opportunities, and limitations.
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.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Telehealth market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Koninklijke Philips N.V., Medtronic, GE Healthcare, Cerner Corporation, Siemens Healthineers, Cisco Systems, Inc., Teladoc Health Inc., American Well, AMC Health, MDLive, Doctor on Demand, and Medvivo Group Ltd
Research Report on the Telehealth Market Addresses the Following Key Questions:
- Who are the dominant players of the Telehealth market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Telehealth market?
- What are the key growth drivers and restraining factors of the Telehealth market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Telehealth market and its key segments?
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Some Key Highlights from the Report
- 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.
Market Segmentations of the Telehealth Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Telehealth market on the basis of product, application, and region:
Segments Covered in this report are:
- 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
- Integrated Software
- Standalone Software
- 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
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Regional Landscape section of the Telehealth report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- 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)
Key reasons to buy the Global Telehealth Market report:
- The latest report comprehensively studies the global Telehealth market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Telehealth Market report is an exhaustive database that will help readers formulate lucrative strategies. The Telehealth Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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