The global telehealth market reached a value of US$ 12.5 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 41.5 Billion by 2027, exhibiting at a CAGR of 22.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Telehealth can be defined as the remote delivery of clinical as well as non-clinical services through tele- and digital communication technologies. It is also used by medical practitioners for various telemedicine services (consultation, mentoring and monitoring), for the training of medical staff, administrative meetings and imparting medical education. These services are usually provided using video conferencing, mobile health (mHealth) applications, electronic transmission of data and remote patient monitoring (RPM). These solutions enable healthcare providers to offer consultation, care management, diagnosis, and self-management services using information and communication technologies (ICT) and facilitate patients to get appropriate medical attention without traveling.
The increasing prevalence of chronic diseases across the globe is one of the key factors driving the growth of the market. Furthermore, rising geriatric population and the expanding demand for home monitoring devices, are also providing a boost to the market growth. There is widespread adoption of telehealth systems in the field of cardiology, radiology and online consultation for the treatment of various medical ailments, such as diabetes, cancer and cardiovascular diseases (CVDs), that require continual medical supervision. Additionally, various technological advancements, such as the development of health monitoring smartphone applications and user-friendly systems, are acting as another growth-inducing factor. Patients across the globe are using various wearable devices, such as smartwatches and bands, to keep a regular check on blood pressure, blood glucose levels, sleep patterns and chronic pain in the body. Other factors, including the rising health consciousness among the masses, along with extensive research and development (R&D) activities in the field of medical sciences and telecommunication technologies, are projected to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global telehealth market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, communication technology, hosting type, application and end-user.
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
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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., etc.
