IMARC Group, a leading market research company, has recently releases report titled “Telehealth Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global telehealth market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the telehealth market?
Report Attributes
Details
Market Size in 2022
US$ 15.5 Billion
Market Forecast in 2028
US$ 49.8 Billion
Growth rate (2023 to 2028)
CAGR of 21.6%
Base Year of the Analysis
2022
Forecast Period
2023-2028
What is telehealth?
Telehealth refers to the process of delivering various clinical and non-clinical healthcare services through electronic information and telecommunication technologies. It uses several technologies, including videoconferencing, mobile health (mHealth) applications, streaming media, storing and forwarding imaging, and enabling wireless and terrestrial communications. It is also employed for remotely monitoring health, educating medical personnel, and digitally transferring patient data through mobile devices and computers. In addition, it provides convenience, minimized financial burdens, flexibility, remote patient monitoring, and improved compliance with follow-up visits. Owing to these benefits, telehealth is gaining traction among healthcare providers and patients across the globe.
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What are the growth prospects and trends in the telehealth industry?
The market is primarily driven by the increasing incidences of chronic diseases, including diabetes, cancer, and gastrointestinal and neurological disorders. In addition, the growing working population, sedentary lifestyles, and unhealthy dietary patterns are leading to cardiovascular diseases, obesity, and diabetes, is contributing to the market growth. Moreover, the recent onset of the coronavirus disease (COVID-19) pandemic escalated the demand for telehealth to avoid physical contact, curb the spread of the virus, and manage patients remotely, which represents another major growth-inducing factor. Besides this, the emergence of health-tracking mobile applications that allow individuals to monitor and follow a healthy regime is providing a positive thrust to market growth. Along with this, the widespread adoption of wearable devices that help monitor blood pressure, sleep patterns, blood glucose levels, and chronic pain are influencing the market growth. Furthermore, growing health awareness, rising healthcare expenditure, and extensive research and development (R&D) activities in the fields of medical sciences and telecommunication technologies are creating a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Software
- Hardware
- Services
Breakup by Communication Technology:
- Video Conferencing
- mHealth Solutions
- Others
Breakup by Hosting Type:
- Cloud-Based and Web-based
- On-Premises
Breakup by Application:
- Teleconsultation and Telementoring
- Medical Education and Training
- Teleradiology
- Telecardiology
- Tele-ICU
- Tele-Psychiatry
- Tele-Dermatology
- Others
Breakup by End-User:
- Providers
- Patients
- Payers
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
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Who are the key players operating in the industry?
The report covers the major market players including:
- Aerotel Medical Systems
- Allscripts Healthcare LLC
- AMD Global Telemedicine Inc.
- American Well Corporation
- Biotelemetry Inc.
- Cerner Corporation
- Cisco Systems Inc.
- GE Healthcare Inc. (General Electric),
- Honeywell Life Care Solutions
- Medtronic Inc.
- Philips Healthcare
- Teladoc Health Inc.
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