The Global Telehealth Market to grow from USD 23,859.69 Million in 2019 to USD 61,236.13 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 17.01%.
Market Segmentation & Coverage:
The research report categorizes the Telehealth Market to forecast the revenues and analyze the trends in each of the following segments:
"The Services is projected to witness the highest growth during the forecast period"
Based on Component, the Telehealth Market studied across Hardware, Services, and Software. The Software commanded the largest size in the Telehealth Market in 2019, followed by the Services. On the other hand, the Services expected to grow at the fastest CAGR during the forecast period.
"The On-Cloud is projected to witness the highest growth during the forecast period"
Based on Deployment Mode, the Telehealth Market studied across On-Cloud and On-Premise. The On-Premise commanded the largest size in the Telehealth Market in 2019, followed by the On-Cloud. On the other hand, the On-Cloud expected to grow at the fastest CAGR during the forecast period.
"The Payer is projected to witness the highest growth during the forecast period"
Based on End User, the Telehealth Market studied across Patient, Payer, and Provider. The Provider commanded the largest size in the Telehealth Market in 2019, followed by the Payer. On the other hand, the Payer expected to grow at the fastest CAGR during the forecast period.
"The Teleconsultation is projected to witness the highest growth during the forecast period"
Based on Application, the Telehealth Market studied across Tele-ICU, Teleconsultation, Teledermatology, Telepsychiatry, Teleradiology, and Telestroke. The Teleradiology commanded the largest size in the Telehealth Market in 2019, followed by the Teleconsultation. On the other hand, the Teleconsultation expected to grow at the fastest CAGR during the forecast period.
Based on Geography, the Telehealth Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
The factors attributing to the growth of the market are need to expand healthcare access for huge population using advance technology, financial benefits associated with the telehealth and telemedicine, and advancement in telecommunication overcoming the shortage of physicians. However, some factors such as loosely defined regulations across regions and uncertainty of hygiene and cleanliness may hinder the market growth. The Telehealth Market expected to showcase the opportunities such as growing application in combating epidemics and infectious diseases and increasing awareness and government support. Soon market may face the possible challenges in the growth due to limited awareness and behavioral barriers. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the market.
Global Telehealth Market: Market Dynamics
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.
360iResearch Competitive Strategic Window:
The 360iResearch Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.
360iResearch FPNV Positioning Matrix:
The 360iResearch FPNV Positioning Matrix evaluates and categorizes the vendors in the Telehealth Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Company Usability Profiles:
The Telehealth Market is highly competitive and characterized by the presence of a large number of international and regional players in the market. The market has witnessed increased competition between vendors based on the pricing model, technology differentiation, brand name, quality of service, price differentiation, and technical expertise.
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Telehealth Market, including Aerotel Medical Systems Ltd., American Well, Care Innovations, Dictum Health, Inc., Doctor On Demand, Inc., Encounter Telehealth, GlobalMed, Globalmedia Group, LLC, HelloMD, Honeywell Life Care Solutions, InTouch Technologies, Inc., MDLIVE Inc., Medtronic PLC, Philips Healthcare, SnapMD, Inc., Teladoc Health, Inc., Tunstall Healthcare, and Vidyo, Inc..