Telehealth to Experience Massive Growth with COVID-19 Pandemic, Says Frost & Sullivan

Telehealth to Experience Massive Growth with COVID-19 Pandemic, Says Frost & Sullivan

PR Newswire

SANTA CLARA, California, May 13, 2020

Demand for telehealth will soar by 64.3% in the US in 2020 as the COVID-19 pandemic disrupts the practice of medicine and the delivery of healthcare

SANTA CLARA, California, May 13, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Telehealth—A Technology-Based Weapon in the War Against the Coronavirus, 2020, finds that the demand for telehealth technology is expected to rise dramatically as the COVID-19 pandemic continues to disrupt the practice of medicine and the delivery of healthcare worldwide. The telehealth market in the United States (US) is estimated to display staggering seven-fold growth by 2025, resulting in a five-year compound annual growth rate (CAGR) of 38.2%. In 2020, the telehealth market is likely to experience a tsunami of growth, resulting in a year-over-year increase of 64.3%.

Photo - https://mma.prnewswire.com/media/1167754/Telehealth_COVID.jpg

For further information on this analysis, please visit: http://frost.ly/43e.

"The critical need for social distancing among physicians and patients will drive unprecedented demand for telehealth, which involves the use of communication systems and networks to enable either a synchronous or asynchronous session between the patient and provider," said Victor Camlek, Healthcare Principal Analyst at Frost & Sullivan. "However, all stakeholders need to remember that many people use the terms 'telehealth' or 'telemedicine' without understanding the ecosystem that is involved. This study will clarify the many components that are needed in order to implement telehealth."

Camlek added: "Across the market segments, virtual visits and remote patient monitoring (RPM) will propel the overall market of telehealth, followed by mHealth and personal emergency response systems (PERS). Further, patients will benefit if data from RPM is fully available to virtual visit providers. This trend will demonstrate the benefit of integrated services. The trauma resulting from the COVID-19 crisis will lead to a clear growth opportunity for one-stop virtual visit and RPM solutions."

The opportunity for telehealth products and services to become a standard of care is growing. The challenge facing these technology and healthcare providers will focus on their ability to scale-up to this unprecedented demand. Growth in the telehealth space will be sustained beyond the COVID-19 pandemic for the vendors who can deliver:

Telehealth—A Technology-Based Weapon in the War Against the Coronavirus, 2020 is the latest addition to Frost & Sullivan's Transformational Health research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Telehealth—A Technology-Based Weapon in the War Against the Coronavirus, 2020
K488

Contact:
Mariana Fernandez
Corporate Communications
P: +1 (210) 348.1012
E: mariana.fernandez@frost.com 
https://www.frost.com

 

Voltar noticias em Inglês