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Telehealth Market (Component – Software, services, and Hardware; Mode of Delivery - Cloud-based Delivery Mode, On-premise Delivery Mode, and Web-based Delivery Mode; End User - Payers, Providers, Patients, and Other End Users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : May, 2022

  • Rep Id : HC0150

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on the telehealth market provides an in-depth analysis of segments and sub-segments in the global as well as regional telehealth market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional telehealth market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global telehealth market. According to the report, the global telehealth market is projected to grow at a CAGR of 27% over the forecast period of 2022-2028.

 

Market Insight

The value of the telehealth market in 2022 was USD 150 billion and is expected to reach USD 620 billion in 2028 and is expected be growing with a CAGR of more than 27%. Remote technologies are used to give health care, health education, and health information services. telehealth is described as the use of telecommunications and digital communication technologies to offer and facilitate health and health-related services such as medical care, provider and patient education, health information services, and self-care. telehealth technologies include live video conferencing, mobile health apps, "save and forward" electronic transmission, and remote patient monitoring (RPM). mHealth (or mobile health), video and audio technology, digital photography, remote patient monitoring (RPM), and store and forward technologies are all being used for telehealth. telehealth services such as remote patient monitoring are gaining popularity around the world.

 

The pandemic of coronavirus disease-19 (COVID-19) was a worldwide public health issue. telehealth has emerged as a viable approach for combating the COVID-19 pandemic. In order to contain the pandemic, various governments have imposed statewide lockdowns to compel social separation. As a result, individuals who want medical assistance choose telehealth because they can get it from the comfort of their own homes. Furthermore, persons who are experiencing flu-like symptoms can use telehealth platforms to determine whether they are infected with the coronavirus. As a result, telehealth services are in higher demand during the coronavirus outbreak. The rising prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases is fueling market expansion. Many of these patients have particular healthcare needs and must see their doctors or physicians more frequently. Such patients can benefit from telehealth. Furthermore, growing accessibility to telehealth is also augmenting the growth of the market. Additionally, internet penetration is on the rise with 5G being introduced around the world. However, there are certain restraining factors that could hamper the growth of this market, which include, limited penetration of telehealth services in developing and under-developing countries around the world. New opportunities are expected to arise as new telehealth solutions are being introduced using AR and VR, AI, and Big Data.

 

Geographically, North America is expected to be the dominating region in the market over the forecast period. Asia-Pacific is expected to be the fastest-growing region in the market. North America was the region with the most revenue in the global telehealth market in 2021. The rising frequency of chronic diseases and the growing senior population are driving North America's growth. According to the National Center for Chronic Disease Prevention and Health Promotion, chronic disease affects 6 out of 10 persons in the United States. Patients in this situation should see a doctor on a regular basis. telehealth can make it easier for patients to get healthcare solutions, increasing the demand for it. Furthermore, North America's increased internet and technical penetration boost the use of telehealth in the region. telehealth services are quickly rising in Asia-Pacific, which is predicted to be the fastest-growing market.


Telehealth Market

 

Segment Covered

The report on the global telehealth market covers segments such as components, mode of delivery, and end user. On the basis of components, the sub-markets include software, services, and hardware. On the basis of mode of delivery, the sub-markets include cloud-based delivery mode, on-premise delivery mode, and web-based delivery mode. On the basis of end users, the sub-markets include payers, providers, patients, and other end users.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Vidyo, Inc., Philips Healthcare, Honeywell Life Care Solutions, Medtronic PLC, Care Innovations, Tunstall Healthcare, Aerotel Medical Systems Ltd., Globalmedia Group, LLC, Intouch Health, and AMD Global Telemedicine, Inc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors driving and restraining this market's growth. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the telehealth market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players 


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