Product Code: RP-ID-10307103 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10307103
Market Overview:
Telehealth Market Share, Size, Trends, & Industry Analysis Report 2019-2026
The Telehealth market is driven by the increasing demand for remote patient monitoring. In addition, the growing number of M&As is anticipated to boost the growth of the telehealth market.
The rising need for better access to healthcare, increasing patient engagement, improving the quality of patient care, and enhancing patient satisfaction are factors leading to the increasing adoption of remote patient monitoring (RPM) across the world. This is increasing the use of connected health tools such as mobile applications and wearable devices to offer quality and value-based services to patients. Vendors are also increasing their focus on improving their telehealth services to enable the adoption of RPM. For instance, in October 2017, Medtronic collaborated with American Well to offer a complete telehealth solution to provide care to patients with chronic and co-morbid disease conditions. Hence, the rising demand for RPM is expected to fuel the growth of the global telehealth market during the forecast period.
Currently, the United States boasts the most mature telehealth market in the world, as well as a diverse competitive landscape, attributable to a trend towards reimbursement reform and successes of large-scale deployment initiatives. Moreover, the Veteran’s Health Administration (VHA), America’s largest purveyor of home telehealth, continues to rapidly expand the size of its remote patient monitoring (RPM) programs and funding.
In the European region, the telehealth monitoring market has grown tremendously in recent years, fueled by increasing awareness of the benefits of remote monitoring and home healthcare. While both telehealth segments are expected to experience significant growth over the forecast period, growth of the total disease management segment will continue to considerably outpace the more developed CIED market.
Factors attributed to the growth of the global telehealth market are increasing number of patient suffering from chronic diseases, increase in number of geriatric population and inclination towards home healthcare. Rapid urbanization in developing countries, high penetration of mobile phones and introduction of various apps based services are some other factors expected to support the growth of the target market. Technological advancement in healthcare products & services and introduction of advanced products has fuelled the growth of global market. However, lack of regulatory scenario and favorable policies in developing countries is expected to limit the adoption of these services thus hampering growth of global telehealth market.
Market Segmentation
Component
*Software & services
*Hardware
Application
*Teleradiology
*Tele-consultation
*Tele-ICU
*Tele-stroke
*Tele-psychiatry
*Tele-dermatology
*Other Applications
Mode of delivery
*Cloud-based
*On-Premise
End-User
*Providers
*Payers
*Patients
*Other End Users
By Regional Ananlysis
North America
*U.S.
*Canada
Europe
*Germany
*UK
*France
*Italy
*Spain
*Belgium
*Russia
*Netherlands
*Rest of Europe
Asia-Pacific
*China
*India
*Japan
*Korea
*Singapore
*Malaysia
*Indonesia
*Thailand
*Philippines
*Rest of Asia-Pacific
Latin America
*Brazil
*Mexico
*Argentina
*Rest of LATAM
Middle East & Africa
*UAE
*Saudi Arabia
*South Africa
*Rest of MEA
Some of the major players operating in the global Telehealth market are American Well, GlobalMed, Teladoc Health, Inc., Dictum Health, Inc., LLC, InTouch Technologies, Inc., Doctor On Demand, Inc., MDLIVE Inc., Encounter Telehealth, HelloMD, and SnapMD, Inc. The market players are focused on providing new services and introduction of new products in product portfolio in order to attract new customers and increase their business presence. In addition, merger and acquisition activities in order to increase the business share are expected to further increase the competition in the market.
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