Research Nester released a report titled “Telehealth Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global telehealth market in terms of market segmentation by deployment, by component, by mode of delivery, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Telehealth is a type of healthcare facility which is digitalized and is used to improve accessibility as well as quality of healthcare services through digital consultations or remote monitoring. The market for telehealth is projected to grow at a significantly high CAGR of 17.06% over the forecast period, i.e., 2021-2028. Moreover, the market accounted for a market value of USD 31,193.46 million in 2019 and is anticipated to grow further by 2028. The market is segmented by deployment, by component, by mode of delivery, by application, by end user and by region. Based on deployment, the market is sub-segmented into on-premise and cloud-based segments. Out of these, the cloud-based segment holds the leading share in the market currently and is estimated to continue to lead the market. This can be attributed to increasing adoption of cloud-based services in the healthcare industry.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Telehealth market is anticipated to hold the largest share in North America out of all the regions. The market in North America had a market share of 46.08% in the year 2019, which is anticipated to follow a similar trend over the forecast period. As a result of increasing investments in healthcare by government and private organizations to ensure high quality healthcare, the market is anticipated to witness significant growth. Moreover, the market in Europe is predicted to grow on the back of rising innovation in healthcare and medical treatment methods. This is resulting in a high demand for effective monitoring products in the region.
Increasing Cases of Chronic Disorders to Boost the Demand for Telehealth Platforms
The growing incidences of chronic diseases is one of the primary reasons for deaths that occur globally, as per the World Health Organization, which further states that 17.9 million people died in the year 2016 as a result of cardiovascular diseases. The increasing prevalence of cardiac deaths is anticipated to increase the demand for telehealth platforms across the globe. However, shortage of clinical experts as well as professional physicians to evaluate and maintain the real time data analysis of the patient is predicted to restrict the market growth in future.
This report also provides the existing competitive scenario of some of the key players of the global telehealth market which includes company profiling of Teladoc Health (NYSE: TDOC), Aerotel Medical Systems, AMD Global Telemedicine, InTouch Technologies Inc., Vidyo, Siemens Healthineers AG (ETR: SIE), Medtronic (NYSE: MDT), Resideo Technologies, Inc. (NYSE: REZI), Cerner Corporation (NASDAQ: CERN), Philips Healthcare (AMS: PHIA) and Aerotel Medical Systems. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global telehealth market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.