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According to a new market research study titled ‘Telehealth Market to 2025 - Global Analysis and Forecasts by Product, Type, Mode of Delivery and End User. The global telehealth market is estimated to account for US$ 52,897.2 Mn by 2025 as compared to US$ 17,289.9 Mn in 2017, growing at a CAGR of 15.7% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global telehealth market and the factors driving the market along with those that act as restraints to its growth.
The global telehealth market is a matured market in the developed countries and growing in developing economies worldwide. Mobile Health is the most advanced and exciting development in telehealth which is referred as mHealth. The mHealth technology is developed to widely distribute the medical information or health data to practitioners and patients as well. The ongoing progression of wireless communications technology with doubtless help bring the mHealth initiatives to maturity in the forecast period. Moreover, the timely manner of the delivery of the telehealth will further increase its demand in the market. According to the World Health Organization mobile and wireless technologies can be used to support the achievement of health objectives. Additionally, The National Institutes of Health (NIH) defines mHealth supports the use of mobile and wireless devices including cell phones and tablets to improve health outcomes, health care services, and health research.
The global telehealth market has been segmented, based on product, type, mode of delivery, end user and geographical regions. On the basis of products the market is segmented into integrated and standalone products. Based on type, the market is segmented into software, hardware and services. The mode of delivery segment is classified as on-premise, cloud-based and web-based. Based on end user the global market of telehealth is segmented into patients, prayers and healthcare providers.
The market is further examined by evaluating the market on basis of five strategic regions worldwide as North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America has largest market share of the global telehealth market, by geography. This largest share can be attributed to government initiatives, investments made by the major companies, conferences held for the awareness regarding telehealth, technological advancements in the field of telehealth, and higher acceptance by the consumers. However, in Asia Pacific, China has a well-defined telehealth systems present in its healthcare systems also the EHR systems are adopted by various providers. The high growth of this region can be attributed to increasing geriatric population and growing technological advancements that enable mobile telehealth in rural and urban areas.
The key players operating in the field of Telehealth worldwide include Medtronic, Cerner Corporation, Tunstall Healthcare, AMD Global Telemedicine, Inc., Philips Healthcare, Cisco Systems, Inc., Aerotel Medical Systems Ltd., Honeywell Life Care Solutions, Medvivo Group Ltd., American Well among others.
The report segments the global Telehealth market as follows:
Global Telehealth Market - By Product
Global Telehealth Market - By Type
Global Telehealth Market - By Mode of Delivery
Global Telehealth Market - By End Users
Global Telehealth Market - By Geography
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