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Growing demand from the Healthcare sector and sustained sales among dynamic economies across the globe will remain the key factors driving the growth of the Global Telehealth Market during the next five years.
Telehealth or telemedicine is a mode of delivering health care services to patients by using communication technologies to facilitate the diagnosis, treatment, consultation, education care management, and others. Telehealth acts as a bridge to improve the relationship between patient and healthcare providers as well as for improving patient satisfaction & behavioural changes by providing healthcare guidance and treatment. It provides self-management and caregiver’s support to the patients. Telehealth is used to monitor the chronic diseases as well as to monitor disease from home.
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There are tremendous benefits offered by the telehealth solutions. Some of these include improved access to the patients; telehealth can allow us to provide healthcare services to the patients situated in distant locations. It also allows physicians & doctors to expand their reach and services beyond their clinics. Telehealth services have also proved to be cost effective with increased efficiency through better management of chronic diseases. And also it reduces the travel time for the patients which further reduced costs for the patients. All these advantages have attracted healthcare services providers to adopt telehealth technologies and the demand for the same has been on the rise ever since.
The global telehealth market is driven by increasing prevalence of chronic diseases, rising geriatric population, and continuous development in the healthcare technology; as per statistics, more than 50% of the total globe population have some or other chronic disease. Moreover, rapid development in the technology, increasing healthcare expenditure, and increasing need for the home based devices have fuelled the market growth. However, lack of awareness and unavailability or less availability of the required infrastructure in many parts of the world including the underdeveloped Asian and African regions may slow the growth of the market.
The global teleheatlh market is expected to grow at a healthy CAGR of 29.8% during the forecasted period.
Key players
- Koninklijke Philips N.V.
- Medtronic
- General Electric Company
- McKesson Corporation
- Care Innovations, LLC.
- Cerner Corporation
- GlobalMedia Group, LLC
- Siemens Healthcare Private Limited
- AMD Global Telemedicine, Inc.
- InTouch Technologies, Inc.
Segmentation
The global telehealth market is segmented on the basis of components, types, and end users.
On the basis of component, the market is segmented into hardware, software, and others. Hardware is further segmented into monitors, medical devices, and others. Monitors are further segmented into blood glucose monitors, blood pressure monitors, ECG monitors, and others.
On the basis of types, the market is segmented into web based, on-premises, and cloud based. On the basis of end users the market is segmented into hospitals & clinics, pharmaceutical companies, and others.
Regional Analysis
On the regional basis the global telehealth market is dominated by America owing to the presence of huge geriatric population and large number of people suffering from diabetes and other chronic respiratory diseases. Among all the regions in the world, the U.S. has been the first choice for the deployment of telehealth solutions due to established healthcare systems and technology advancement. It has gained a significant position in the global market with the increase in large numbers of telehealth services which target at wellness and fitness. Thus, these telehealth solutions help in cost reduction, saves time by reducing visits to physicians, and provides better healthcare systems. In Addition to this, well developed healthcare sector and high healthcare spending has contributed in the growth of the market. Europe accounts for the second largest market for the global telehealth market which is followed by Asia Pacific. The Germany is dominating the connected healthcare deployments in Europe, with different kinds of solutions being offered and services being delivered through varied means, from simple messages to much more complex apps. Asia pacific has the fastest growth market due to the presence of rapidly developing economies like China and India. However, the Middle East and Africa has the least share in the market.
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LIST OF TABLES
Table 1 Telehealth Industry Synopsis, 2017 – 2023
Table 2 Global Telehealth Market Estimates And Forecast, 2017 – 2023, (USD Million)
Table 3 Global Telehealth Market By Region, 2017 – 2023, (USD Million)
Table 4 Global Telehealth Market By Component, 2017 – 2023, (USD Million)
Table 5 Global Telehealth Market By Type, 2017 – 2023, (USD Million)
Table 6 Global Telehealth Market By End Users, 2017 – 2023, (USD Million)
Table 7 Americas Telehealth Market By Component, 2017 – 2023, (USD Million)
Table 8 Americas Telehealth Market By Type, 2017 – 2023, (USD Million)
Table 9 Americas Telehealth Market By End Users, 2017 – 2023, (USD Million)
Table 10 North America Telehealth Market By Component, 2017 – 2023, (USD Million)
Table 11 North America Telehealth Market By Type, 2017 – 2023, (USD Million)
Table 12 North America Telehealth Market By End Users, 2017 – 2023, (USD Million)
Table 13 U.S. Market By Component, 2017 – 2023, (USD Million)
Table 14 U.S. Telehealth Market By Type, 2017 – 2023, (USD Million)
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Telehealth Market
Figure 3 Segmentation Market Dynamics For Global Telehealth Market
Figure 4 Global Telehealth Market Share, By Component 2016
Figure 5 Global Telehealth Market Share, By Type 2016
Figure 6 Global Telehealth Market Share, By End Users, 2016
Figure 7 Global Telehealth Market Share, By Region, 2016
Figure 8 America Telehealth Market Share, By Region, 2016
Figure 9 North America Telehealth Market Share, By Country, 2016
Figure 10 Europe Telehealth Market Share, By Country, 2016
Figure 11 Asia Pacific Telehealth Market Share, By Country, 2016
Figure 12 Middle East & Africa Telehealth Market Share, By Country, 2016
Figure 13 Global Telehealth Market: Company Share Analysis, 2016 (%)
Figure 14 Medtronic Plc: Key Financials
Figure 15 Medtronic Plc: Segmental Revenue
Figure 16 Medtronic Plc: Geographical Revenue
… Continued!
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