Telehealth Market by Component (Software & Services, Hardware), by Application (Teleradiology, Tele-consultation, Tele-ICU, Tele-stroke, Tele-psychiatry), by End-User (Providers, Patients, Payers), Geography & Forecast
Telehealth Market Size And Forecast
The Global Telehealth Market was valued at USD 21.17 Billion in 2019 and is projected to reach USD 71.44 Billion by 2027, growing at a CAGR of 16.4% from 2020 to 2027.
Global Telehealth Market Overview
The prevalence of chronic diseases and the cost-benefits of telehealth is the primary factor driving market growth. It has been calculated that, in 2001,chronic diseasescontributed approximately 60% of the 56.5 million total reported deaths in the world. There has reduced cost savings in telehealth since telehealth has reduced the count of bed day of care by 25% and the number of hospital admissions by 19%. It means there is an increase in quality care and patient satisfaction. The rise in population and the increased demand to extend healthcare access is expected to cause a surge in market growth. Telehealth can bring a change in the archetype of care.
The increase in the count of fraudulent activities is the significant restraints that will hinder the market growth. The fraudsters enable patients to share their confidential data regarding health status and information or installing the malware virus into the devices. The variation of regulatory guidelines among the regions, incapability to guarantee hygiene and cleanliness, and the shortage of awareness about the concept of telehealth among the consumers are the challenges being faced.
Global Telehealth Market: Segmentation Analysis
The Global Telehealth Market is segmented based on Component, End-User, Application, and Geography.
Key Players In Telehealth Market
The Global Telehealth Market study report will provide a valuable insight with an emphasis on the global market. The major players in the market are
- KONINKLIJKE PHILIPS
- GE HEALTHCARE
- CERNER CORPORATION
- SIEMENS HEALTHINEERS AG
- CISCO SYSTEMS
- ASAHI KASEI CORPORATION
- IRON BOW TECHNOLOGIES
- AMERICAN WELL
- TELADOC HEALTH
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