New York City, 05 Feb 2020:According to a new study published by Polaris Market Research the
global telehealth
market is anticipated to reach USD 16.7 billion by 2025.
The use of digital
technologies to deliver health education, medical care, and public health
services by connecting multiple users from distinct locations is known as
telehealth. This includes technology-enabled health care services,
telemedicine, and services such as monitoring, assessment, communications,
education, and prevention. Additionally, it also involves a wide range of
videoconferencing, health information, telecommunications, and digital image
technologies. The virtual technology and telecommunications are used in
telehealth to deliver health care facilities outside of tradition healthcare
facilities.
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The telehealth
includes virtual health care, where elderly or chronically ill patients are
given medical guidance as well as treatment in certain procedures by residing
home. The use of telehealth made easy accessibility of medical tools and
guidelines for both professionals as well as patients in terms of diagnosis and
patient care.
The global telehealth market is segmented on the basis of
component, mode of delivery, end user, and by region. By component, the global
telehealth market is further segmented into three major categories, including
hardware, software, and services. On the basis of component, the services segment
accounted major share in the global telehealth market. The services segment is
further segmented into three major types, real-time interactions, remote
monitoring, and store-and-forward consultations. The growing awareness and
acceptance of remote monitoring solutions, and increasing technological
advancement in telecommunication is the key factor responsible for high share
of telehealth services in the telehealth industry. The hardware segment by
component is further segmented into two types, medical peripheral devices, and
monitors. The software segment is further segmented into, standalone software
and integrated software’s. The software segment in the telehealth industry is
expected to grow at high CAGR during the forecast period. The software is the
important tool of telehealth systems. They work as an interface between the
database and end users.
By mode of delivery
the global telehealth market is further segmented into, web-based, cloud-based,
and on premises delivery system. By end user, the global telehealth market is
further segmented into providers, payers, patients, and others.
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On the basis of region, the telehealth industry is further
segmented into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. The North America is estimated to account major share in the
global telehealth industry in 2017. The continuous increasing in telehealth
funding and government support for telehealth in the region is the one of key
factor responsible for growth of the market. The Asia Pacific is expected to
register high CAGR during forecast period, owing to growing economy, and rising
healthcare expenditure in that region.
The key players
operating in global telehealth market includes Medtronic plc, Koninklijke
Philips N.V., McKesson Corporation, Tunstall Healthcare Group Ltd, AMD Global
Telemedicine, Inc., Medvivo Group Ltd., Vidyo, Inc., Care Innovations, LLC,
Cisco Systems, Inc., General Electric Company, and Honeywell Life Care
Solutions among others. The increasing investment for telehealth research and
development activities across the top players is expected to propel the growth
of the global telehealth market.
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