The global telehealth market is likely to expand considerably with impetus from the ability of telehealth to serve the rural population. Fortune Business Insights has predicted that the market will reach USD 266.8 Bn by 2026, thereby exhibiting a CAGR of 23.4%.
The ability of telehealth to access and manage healthcare services has led to their rising uptake across the world. Telehealth is used to enhance healthcare services as well as increase feasibility within the healthcare services. Recent technological advancements in telehealth services have created huge potential for growth of the telehealth market for the forthcoming years.
The ability of telehealth services and products to reach out to rural areas and people who cannot access healthcare facilities has created a huge demand across the world. Resulting from such exceptional benefits for telehealth products, investors have identified this market as a gem and have identified several growth opportunities for the market companies around the world.
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“Technological Advancements to Fuel Demand for Telehealth Services”
The technological advancements in telehealth products and services have fuelled the demand for telehealth services across the world. The advent of user-friendly systems has contributed to a high demand, which in turn has led to an increase in the telehealth market value in recent years. In 2019, InTouch announced the launch of a fully integrated end-to-end virtual platform aimed at providing enhanced patient care solutions.
‘Solo’ was a flexible platform integrated with services such as enhanced emergency care solutions, direct-to-patient, and direct-to-customer, which in turn will contribute to the growth of the market in the coming years.
Top players in the Telehealth Market include:
• American Well
• Teladoc Health, Inc.
• Dictum Health, Inc., LLC
• InTouch Technologies, Inc.
• Doctor On Demand, Inc.
• MDLIVE Inc.
• Encounter Telehealth
• SnapMD, Inc.
“Company Collaborations Are Proving Chief Growth Drivers”
Due to the increasing demand, telehealth market companies are adopting collaborative strategies with the aim of expanding business on a global scale. Furthermore, leading companies in the telehealth industry are focusing on mergers and acquisitions to gain competitive strength. Companies are trying to incorporate modern industrial concepts with a view to gain more end users.
Fortune Business Insights expects market collaborations will help companies generate substantial telehealth market revenue. In April 2018, American Well acquired Avizia Limited with the aim of strengthening its position among the companies in the telehealth industry. American Well’s acquisition of Avizia will help the company take a big leap in the market, owing to the exceptional portfolio of telehealth services bolstered by Avizia.
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• Patient Monitoring
• Continuous Medical Education
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
By End User
• Healthcare Facilities