North America expected to account for largest share of telehealth market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In U.S., telehealth market driven by rising healthcare costs, upcoming regulatory policies, shortage of physicians, growth in geriatric population, implementation of the Affordable Care Act (ACA), and increasing funding for telehealth.
In Canada, growth of telehealth market is driven by rising healthcare spending, and growing number of conferences and events that are generating awareness about telehealth services in country. Growth in geriatric population, rising prevalence of chronic diseases, dearth of healthcare professionals worldwide, improvements in telecommunication infrastructure, technological advancements, benefits of telehealth, and need for affordable treatment options due to rising healthcare costs are some factors expected to drive growth of global telehealth market in coming years.
Complete Report on Telehealth Market spread across 208 Pages, Profiling 14 Companies and Supported with 130 Tables and 41 Figures is now available at http://www.reportsnreports.com/reports/403164-telehealth-market-by-component-hardware-blood-glucose-meters-software-integrated-services-remote-monitoring-real-time-interactions-end-user-providers-patients-by-delivery-mode-on-premise-web-cloud-trends-global-forecast-to-2020.html .
The telehealth market is projected to reach USD 9.35 billion by 2021 from USD 2.78 billion in 2016, at a CAGR of 27.5% in the next five years (2016 to 2021). Healthcare industry is undergoing a fundamental transformation globally—a shift from a volume-based business to a value-based business. Growing demands from consumers for improved healthcare quality and greater value are forcing healthcare providers and payers to deliver optimized outcomes. In order to overcome these challenges and meet consumer expectations, healthcare providers are increasingly adopting telehealth solutions that enable them to provide improved healthcare at reduced costs.
Stakeholders of the Telehealth Market
- Healthcare IT Service Providers
- Healthcare Insurance Companies/Payers
- Healthcare Institutions/Providers (Hospitals, Medical Groups, Physician Practices, Diagnostic Centers, and Outpatient Clinics)
- Venture Capitalists
- Government Bodies
- Corporate Entities
- Market Research and Consulting Firms
- Medical Device Manufacturers
- Accountable Care Organizations
- Community Centers
- Telehealth Resource Centers
In coming years, telehealth market is expected to witness highest growth in Asia-Pacific region, with emphasis on India, China, and Japan. This can be attributed to factors such as growth in geriatric population in Japan, favorable initiatives for adoption of telepathology in China, and low doctor-patient ratio and high internet penetration in India. Furthermore, increasing number of HCIT programs and rising prevalence of chronic diseases in Australia; growing medical tourism in India, Malaysia, Singapore, and Thailand.
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This can be attributed to growing focus among healthcare providers on meeting requirements of Affordable Care Act (ACA) and rising focus of industry players on various growth strategies in order to meet rising demand of end users. North America is expected to account for largest share of global market. In U.S., market is driven by rising healthcare costs, upcoming regulatory policies, rising prevalence of chronic diseases, shortage of physicians, implementation of Affordable Care Act (ACA), and increasing funding for telehealth.
Key players in this market are as follows
Philips Healthcare (The Netherlands), Medtronic plc (Ireland), Honeywell Life Care Solutions (U.S.), Tunstall Healthcare (U.K.), Care Innovations (U.S.), Cerner Corporation (U.S.), Cisco Systems, Inc. (U.S.), Medvivo Group Ltd. (U.K.), GlobalMedia Group, LLC (U.S.), Aerotel Medical Systems Ltd. (Israel), AMD Global Telemedicine, Inc. (U.S.), American Well (U.S.), InTouch Health (U.S.), and Vidyo, Inc. (U.S.).
Connect for More Details for Discount and More Information “Telehealth Market by Component (Hardware (Blood Glucose Monitors), Software (Integrated), Services (Remote Monitoring, Real-time Interactions)), End User (Providers, Payers, Patients), & Mode of Delivery (Web, Cloud)) – Global Forecast to 2021” report @ http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=403164 .
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the products and services offered by top players in th etelehealth market. The report analyzes the telehealth market by component, mode of delivery, and end user.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the telehealth market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for telehealth across regions.