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The global Telehealth market accounted for USD 7,321.3 Million in 2020 and is expected to reach USD 61,385.1 Million by 2028
— Prakash Torase
SUITE N202, NEW YORK, UNITED STATES, September 14, 2022 /EINPresswire.com/ — The global Telehealth market accounted for USD 7,321.3 Million in 2020 and is expected to reach USD 61,385.1 Million by 2028, growing at a CAGR of 30.5% from 2021 to 2028.
The report covers forecast and analysis for the Telehealth market on a global and regional level. The study provides historical data from 2016 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD million). The study includes drivers and restraints for the Telehealth market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Telehealth market on a global level.
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In order to give the users of this report a comprehensive view of the Telehealth market, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the Telehealth market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the Telehealth market by segmenting the market based on component type, mode of delivery and end users. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2028. On the basis of component type, the market has been segmented into by software, hardware, and services. On the basis of mode of delivery, the market has been segmented into Web-based, Cloud based, and On-premise. Based on end users, the market has been segmented into providers, payers, patients, and others. The regional segmentation includes the current and forecasted demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each region has been further segmented into 18 countries such as the U.S., Canada, Mexico, the U.K., France, Germany, Russia, Poland, Ukraine, China, India, Japan, South Korea, ASEAN, Brazil, Argentina, GCC, South Africa, and others.
Regionally, North America has been leading the worldwide Telehealth market and is anticipated to continue on the dominant position in the years to come, states the market study. Rise in elderly population, high incidence of chronic diseases, and bulging healthcare costs are the key factors behind the dominance of the North America Telehealth market.
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The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Some of the major players involved in the global Telehealth market include Philips Healthcare, McKesson Corporation, Medtronic plc, Medvivo Group Ltd. and Tunstall Healthcare among others.
Browse the full “Telehealth Market By Component Type (Hardware, Software, and Services), By Mode of Delivery Type (Web-based, Cloud based, On-premise), By End User (Providers, Payers, Patients, and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.
COVID-19 Impact Analysis:
The pandemic has created opportunities for telehealth solutions, considering that social distancing is the only existing solution developed so far, which is capable of minimizing exposure. Moreover, telehealth represents an attractive, effective, and affordable option. Moreover, this technology is of critical importance in keeping healthcare providers safe.
The demand for telehealth care services has rapidly increased in the pandemic as people actively adopt teleconsultation and remote monitoring services. However, the pandemic has positively impacted the telehealth market.
Rising incidences of chronic ailments along with hefty expenditure on healthcare activities are the key factors stimulating the demand for telehealth services. Apart from this, the telecommunications sector is witnessing a paradigm shift through the launch of new technologies and this will enable a massive expansion of the telehealth market over the forthcoming years.
Inadequate compensation benefits, rising technological costs, and lacuna in the interoperability rules, however, are likely to hinder the growth of the telehealth market during the forecast timeline. Nevertheless, the inception of cutting-edge technologies such as electronic health records is likely to facilitate the growth of the telehealth market over the ensuing years, thereby normalizing the impact of hindrances on the market, reports the telehealth market study.
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Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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