NEW YORK, March 5, 2019
Research on Global Markets releases a new report on the global telehealth market for the 2017-2022 period
NEW YORK, March 5, 2019 /PRNewswire/ -- A new report published by Research on Global Markets titled 'Global Telehealth Market (2017–2022)' studies the performance of the global telehealth market over a five-year assessment period, from 2017 till 2022. The report presents the forecasted value of the global telehealth market, and provides key insights into the factors driving market growth, as well as those restricting it. According to Research on Global Markets' analysts, the global telehealth market will expand at a compound annual growth rate (CAGR) of 14.1% during the 2017-2022 period.
Global telehealth market: Bridging the gap between doctors and patients
The expansion of the global telehealth market can be attributed to an increasing geriatric population, prevalence of chronic diseases, and higher government spending on healthcare. Telehealth solutions are witnessing higher adoption because the technology has made it possible to provide better healthcare services by bridging the gap between doctors and patients.
According to a senior analyst at Research on Global Markets for research on healthcare, 'Recent regulations in countries like the United States, Canada, and the United Kingdom, mandate the imposition of fines on readmission of patients within 30 days of discharge. These regulations, along with rising healthcare costs, are driving the demand for telehealth solutions."
Global telehealth market: Segment analysis
The global telehealth market research report provides market segmentation based on technology (remote patient monitoring [RPM], mobile health [mHealth], and video telemedicine), application (teledermatology, telecardiology, and teleradiology), and region (North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa). The report offers an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Remote patient monitoring (RPM) occupied a market share of 63% in 2017, and was the most prevalent telehealth technology. This technology segment is expected to dominate the global market during the forecasted period.
Teledermatology held the largest market share among the application segments, and is expected to maintain its growth throughout the forecasted period.
North America witnessed the highest adoption of telehealth technologies and occupied approximately 49% of the global market in 2017. Asia-Pacific, Latin America, and the Middle East and Africa market are still at nascent stages, but are expected to exhibit high growth in the future.
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