The significant market growth can be attributed to the growing geriatric population followed by several benefits offered by telehealth. Moreover, the increasing prevalence of various chronic diseases and improvements in telecommunication infrastructure in emerging countries are anticipated to boost market growth further, over the forecast period. The rate of adoption of telehealth is gradually increasing, especially in the field of radiology, cardiology, and online consultation, further augmenting market growth. Extensive research & development activities by major companies and universities across the globe to introduce new technologies with maximum safety & precision are expected to contribute significantly to market expansion. In April 2019, InTouch Technologies, Inc. announced the launch of Solo, an end-to-end fully integrated care platform, which is suitable for different user types in healthcare setting. Solo is a flexible platform integrated with services such as enhanced emergency care solutions, direct-to-patient, and direct-to-customer.
Market Industry Reports (MIR) has published a new report titled “Telehealth Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global telehealth market was estimated to account for over US$ 5.7 billion in 2019. It is anticipated to grow at a CAGR of ~24% from 2019 to 2030.
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Some of the prominent players in the Telehealth Market include:
Cerner Corporation, Tunstall Group, Vidyo, Inc., Medvivo Group Ltd, Aerotel Medical Systems Ltd, American Well, Resideo Technologies, Inc., Medtronic, Koninklijke Philips N.V., and Cisco
Additionally, the aging population is contributing considerably to the overall market growth. According to the World Health Organization, the proportion of the world’s population over 60 years will nearly double from 12% to 22% between 2015 and 2050. Aging is a process that results from the impact of the accumulation of a wide variety of molecular and cellular damage over time. This leads to a gradual decrease in physical and mental capacity, a growing risk of diseases, and ultimately, death. These chronic illnesses cause an increasing burden on health systems and require treatment, which will boost the need for telehealth services. This, in turn, aids substantial growth of the telehealth market.
The increasing prevalence of chronic diseases along with rising healthcare expenditures and the high adoption rates of health IT infrastructure to support telehealth initiatives are expected to further boost market growth. According to the National Center for Biotechnology Information, chronic diseases are among the most prevalent and costly health conditions in the U.S. Approximately 45% or 133 million Americans suffer from at least one chronic disease and the number is growing. This is expected to propel growth of the telehealth market.
The Telehealth Market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.
By Component:
Services, Software, and Hardware
Mode of Delivery:
Web-Based, Cloud-Based, and On-Premise
End User
Providers, Payers, and Patients
Research Approach
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- INTRODUCTION
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
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