The telehealth market is witnessing a higher adoption rate owing to an increasing geriatric population, prevalence of chronic diseases, and higher government spending on healthcare. Telehealth has made it possible to provide better healthcare services by bridging the gap between doctors and patients. These factors are expected to drive the market, helping it expand at a CAGR of 14.1% during the 2017-2022 period.
Remote patient monitoring (RPM) occupied a market share of 63% in 2017, being the most prevalent telehealth technology. Recent regulations in countries like the United States (U.S.), Canada, and the United Kingdom (U.K.), mandate the imposition of fines on readmission of patients within 30 days of discharge. These regulations, along with rising healthcare costs, are the significant drivers of RPM adoption. Mobile health (mHealth), having held a market share of 22% in the same year, shows a lot of promise in the wide distribution of medical information to both patients and medical practitioners. Video telemedicine accounted for a share of 15% in 2017.
Major Key Players of the Telehealth Market are:
McKesson Corporation, Medtronic, Cisco Systems, GE Healthcare, Allscripts Healthcare, Siemens Healthineers, LifeWatch AG, Philips Healthcare, Honeywell, Cerner Corporation
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Major Types of Telehealth covered are:
Remote Patient Monitoring, mHealth, Video Telemedicine
Major Applications of Telehealth covered are:
Teledermatology, Teleradiology, Telecardiology, Telepathology, Others
The adoption of teledermatology is the highest among the application segments, due to the high cost of specialty healthcare. This segment includes dermatology and makes available advanced imaging technologies. Close on its heels are teleradiology (25%) and telecardiology (24%). Telecardiology is driven by the higher prevalence of cardiac ailments across the world, and specific heart conditions like cardiac arrhythmia which require constant monitoring over a long period. Cancer patients need regular check-ups, which may not be possible for patients who stay far from hospitals. Teleradiology is a boon for these patients, allowing them to lead healthy lives.
North America has exhibited the highest adoption of telehealth technologies and occupied approximately 49% of the global market in 2017. The region has stringent healthcare regulations, along with a high incidence of chronic diseases and steep healthcare expenses for employers, all of which resulted in the broader implementation of telehealth. Significant government investments in developing telehealth infrastructure have led to the growth of the market in Europe. Currently, the region accounts for a 33% market share. Asia-Pacific, Latin America, and the Middle East and Africa are nascent markets which are expected to exhibit high growth in the future.
– To study and analyze the global Telehealth consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Telehealth market by identifying its various sub-segments.
– Focuses on the key global Telehealth manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Telehealth with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Telehealth Market Size
2.2 Telehealth Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Telehealth Market Size by Manufacturers
3.2 Telehealth Key Players Head office and Area Served
3.3 Key Players Telehealth Product/Solution/Service
3.4 Date of Enter into Telehealth Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Telehealth Sales by Product
4.2 Global Telehealth Revenue by Product
4.3 Telehealth Price by Product
5 Breakdown Data by End User
5.2 Global Telehealth Breakdown Data by End User
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In the end, Telehealth industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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This post was originally published on Space Market Research