Global Telehealth Market is expected to reach USD 16.23 Billion by 2024 from USD 3 Billion in 2016 at CAGR of 23.5% (Detailed analysis of the market CAGR is provided in the report).
Telehealth enhances patient care and satisfaction by improving the relationship between patients and the healthcare provider. Telehealth provides physicians the ability to treat their patients from medical facilities, hospitals, or from other places of work including their own homes or even during vacation as long as they are connected through the Internet. Telehealth is a tool to manage health education services, doctor-patient consultations, enabling medical practitioners to evaluate and diagnose patients, monitoring of vital signs in their medical facilities.
Global Telehealth Market
Global Telehealth Market is segmented by component, mode of delivery, end user, and geography. The component segment is classified as software, hardware, and services. Service segment is expected to register the highest growth in the forecast period. Increasing adoption of remote monitoring solutions by patients in remote rural areas, technological advancements in telecommunication is expected to drive service segment growth. Mode of a Delivery segment is divided as web-based, cloud-based and on-premises. On-premises sub segment is estimated to hold the largest market share in the forecast period. Issues related to data security and customization feature of this delivery mode will result into the increasing share of on-premises segment market. The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Increase in prevalence of chronic diseases such as diabetes, cardiovascular diseases, and others, the surge in demand for self-care devices/solutions are trending the overall Telehealth market. Legality, privacy, and security concerns may hamper market growth. APAC is going to emerge as one of the higher growth regions in the forecast period followed by North America and Europe. Favorable initiatives for the adoption of telepathology in China, and low doctor-patient ratio and high internet penetration in India will fuel the Global Telehealth Market in the APAC region.
• Assessment of market definition along with the identification of key players and an analysis of their strategies to determine the competitive outlook of the market, opportunities, drivers, restraints, and challenges for this market during the forecast period
• Complete quantitative analysis of the industry from 2016 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Global Telehealth Market analysis and comprehensive segmentation with respect to the component, mode of delivery, end user, and geography to assist in strategic business planning
• Global Telehealth Market analysis and forecast for five major geographies North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their key regions
Research methodology used in this report contains various secondary sources including directories such as Brazilian Council of Telemedicine & Telehealth, The Home Healthcare Nurses Association, Association of Telehealth Service Providers (ATSP), Home Telehealth & Remote Monitoring SIG, Center for Telehealth & e-Health Law, and The University of Kansas Center for Telemedicine & Telehealth (KUCTT). Hoovers, Bloomberg, and Factiva are some of the sites that are being referred to gain insights about Global Telehealth Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Global Telehealth Market globally.
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