Telehealth Market Size & Growth Analysis to 2030

The global telehealth market is expected to grow at a CAGR of 24.6% during 2017-2025. The global telehealth market is segmented on the basis of components, services, and geography. The report on the global telehealth market forecast 2017-2025 (by components, services, and geography) provides a detailed overview and predictive analysis of the market.

Market Insights:

Awareness about the remote patients, the advent of technology in telecommunication, rise in the geriatric population associated with chronic illness are some of the main factors of growth of telehealth market. Rising healthcare expenditure, increase in homecare facilities, and remote patient care access, use of technology in healthcare, and wellness care are major reasons for the awareness and usage of the telehealth. Though reimbursement issues, patient data privacy, and cost constraints are some of the hindrances for market growth. With changing global trends, virtual medical facilities and remote patient monitoring are being given more importance in global telehealth market.

Telehealth is a novel concept that is fast propagating in the healthcare market. Telehealth helps in delivering better healthcare service, accessibility to remote areas, allows remote patient monitoring, access to expert/specialist advice, distant education, and storage of patient data and previous records. Thus, with the help of telecommunication, telehealth brings together medical specialists, education, training, remote patient, and other medical technology and devices on one cohesive platform to provide better healthcare facilities.

Market Segment Insights:

On the basis of components, the global telehealth market is majorly segmented into hardware and software. In terms of revenue, the hardware form the largest telehealth segment in 2016. Based on service type, the global telehealth market is categorized into teleconsultation, telemonitoring, tele-education, tele-training, tele-care, telesurgery, teleradiology. Among these, teleconsultation is observed to be the largest market in 2016. Various studies demonstrate that teleconsultation is highly instrumental in improving healthcare delivery in underserved remote locations that are difficult for access and serve under normal conditions.

Global Telehealth Market Segmentation:

By Components Type, 2018–2027 ($ Million)

• Overview
• Telehealth Services
• Telehealth Hardware
• Telehealth

By Services Type, 2018–2027 ($ Million)

• Tele-Consultation
• Tele-Monitoring
• Tele-Education
• Tele-Training
• Tele-Care
• Tele-Surgery
• Tele-Radiology

By Geography, 2018-2027 ($ Million)

• North America (U.S. & Canada)
• Europe (U.K., Germany & Rest of Europe)
• Asia Pacific (China, Japan, and Rest of APAC)
• Latin America (Brazil, Mexico and Rest of LATAM)
• Middle East and Africa (UAE, Saudi Arabia, South Africa)

Regional Insights:

Geographically, North America dominates the global telehealth market in 2016. US occupies the largest share of telehealth equipment services that is driven by demand for self-care and growing trend of long-term home-care. The rising requirement of continuous care and monitoring from senescent population is effectively addressed by telehealth, along with cost saving benefit for patients and caregivers are some of the key factors for growth of telehealth market in North America.

Market Competition Assessment:

Key players in the global telehealth market are AMD Telemedicine, Philips Healthcare, GE Healthcare, McKesson Corporation, Robert Bosch Healthcare, McKesson Corporation, Siemens Healthcare, Honeywell Life Care Solutions, Medtronic, Allscripts Healthcare Solutions and others.

List of Key Companies:

• Allscripts Healthcare Solutions
• Philips Healthcare
• Medtronic
• Honeywell Life Care Solutions
• Cisco Systems
• McKesson Corporation
• Robert Bosch Healthcare
• Siemens Healthcare
• Others

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