Today there are a higher number of chronic disease incidences that difficult to manage and cure, without the right technology. This core demand coupled with other factors like rising healthcare costs, and advancements in information and communication technology is the reason why the Global Telehealth Market is valued at USD 25.3 Bn in 2022.
The cause of this increase in the cost of healthcare is because we are using healthcare services more than ever. It’s a convenient way to manage any kind of long term illness, especially when you consider how lifestyle factors have changed, the new techniques and technological innovations we have today.
So, telehealth solutions bridge the gap between these two aspects and have demonstrated, over time, the kind of capability they have in improving health outcomes.
There have been plenty of debates about how these telehealth solutions actually attribute to a huge shift in costs, mostly over to private players from government initiatives or authorities. What happens next is that healthcare facilities, clinics, and hospitals begin charging higher rates for the same services. This impacts the rates that health insurance providers maintain.
Things are quite the opposite where these solutions do, in fact, help patient and providers save when compared with traditional medical or treatment approaches. For instance, North America contributed over 7.2 Bn in 2018, making it the largest market then.
Our research efforts on this market show that this region has a higher prevalence of chronic diseases, especially among the senior population. Other factors include the Affordable Care Act and that hospitals find it more convenient to utilize telehealth solutions as it helps them avoid the readmission penalties.
Research On Global Markets also discovered that similar socio-political developments occurring in other regions are assisting the growth of the Telehealth Market internationally.
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• A full segmentation of the market based on certain key technologies used in the market and individualized growth patterns of each segment.
• A full segmentation of the market based on applications of Telehealth devices and which ones hold the biggest shares.
• Insights of markets as divided into regions and critical driving factors, events and a host of macro and micro environmental factors within it.
• A full list of the top eleven global players and their contribution and control they have over the global market.
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