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A recent report published by Infinium Global Research on telehealth market provides 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, forecast and dollar values of global telehealth market.
Telehealth refers to the provision of such health care services as consultations, diagnosis, treatment, and monitoring through various means like digital communication technologies. It provides physical access to patients in remote areas thus overcoming the barrier of span and extension medical services Telehealth uses various forms of communication, including video conferencing; phone calls over mobile apps, and secure messaging that ensure patients can access treatment from a distance without physically visiting the doctor. Besides, it has transformed the healthcare delivery system by increasing access to medical knowledge, particularly in rural and remote areas. Telehealth is especially important in emergency cases, chronic disease management, and mental health support preventative care. In addition, it improves healthcare efficiency and saves on healthcare costs by reducing the strain that physical facilities place.
The telehealth market is driven by the growing need for remote medical care and better access to healthcare. These factors are transforming health care, delivering timely and accessible healthcare services to individuals predominantly in under-served regions or remote areas that can give rise surge in the market. Moreover, the market of telehealth is booming due to the increase in the cost of healthcare expenses and the development of telecommunication infrastructure. Rising healthcare costs have accelerated the adoption of low-cost telehealth solutions, while advanced communication networks facilitate easy and accessible remote healthcare services thereby driving market growth. However, the implementation of telehealth solutions over a wide range is not an easy process because there are problems with data privacy and safety. These concerns, which are often based on protecting confidential patient information, need to be addressed for the trust and safe use of remote healthcare technologies. Although, the global population is aging rapidly which in turn creates huge opportunities for the telehealth market as there are increasing demands for cost-effective healthcare solutions. These dynamics highlight the need for readily available and affordable remote medical services, making telehealth a suitable option to help address these emerging issues.
North America holds the largest market share in the telehealth market. Due to the fine healthcare infrastructure, a high level of technology acceptance, and a growing demand for remote healthcare services, the demand for the telehealth market is growing in the region. The COVID-19 pandemic led to an even more rapid adoption of telehealth in North America. In addition, the Asia-Pacific is also the fastest-growing region in the telehealth market. The rise of telehealth is driven by numerous influences such as growing healthcare expenditure, rising digital infrastructure, and awareness of benefits in countries such as China and India. Governments in these countries are also encouraging telehealth as a way of improving convenience to healthcare facilities, particularly in isolated or less privileged areas. The epidemic made telehealth to be even more important in the Asia-Pacific region, hence increasing its growth potential.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 97.61 Billion |
| Market Size by 2030 | USD 627.19 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 22.86% |
| Largest Market | North America |
| No. of Pages | 300 |
| Market Drivers |
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| Market Segmentation | By Component, By Mode of Delivery, By Application, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global telehealth market covers segments such as component, mode of delivery, application, and end user. On the basis of component, 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 application, the sub-markets include general consultation, pathology, cardiology, surgery, gynecology, and others. On the basis of end user, the sub-markets include payers, providers, patients, and others.
The report provides profiles of the companies in the market such as Vidyo, Inc., Koninklijke Philips N.V., Siemens Healthcare GmbH, Medtronic, Center for Care Innovations, Tunstall Integrated Healthcare group, Aerotel Medical Systems (1998) Ltd., GlobalMedia Group, LLC, Teladoc Health, Inc., and AMD Global Telemedicine.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. 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 from 2023-2030. 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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