CHICAGO, Nov. 16, 2020
CHICAGO, Nov. 16, 2020 /PRNewswire/ -- According to the new market research report "Telehealth Market by Component (Software & Services, RPM, Real-Time), Application (Teleradiology, Telestroke, TeleICU), Hardware (Glucose Meters), End-User (Provider, Payer, patient), Delivery (On-Premise, Cloud) Global Forecast to 2025", published by MarketsandMarkets™, is projected to reach USD 191.7 billion by 2025 from USD 38.7 billion in 2020, at a CAGR of 37.7% during the forecast period.
Browse in-depth TOC on "Telehealth Market"
182 – Tables
34 – Figures
225 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201868927
The growth of this market is majorly attributed to the shortage of physicians, rise in population & need to expand healthcare access, rising prevalence of chronic conditions & cost benefits of telehealth and telemedicine, advancements in telecommunications, and government support and raising awareness.
By component, the software and services segment took the largest share of the telehealth market in 2019
Based on, component, the telehealth market is parted into software & services, and hardware segments. In 2019, the software & services segment accounted for the largest share of the telehealth market. The large share of this segment is attributed to the increasing adoption of telehealth and telemedicine across the globe. Telehealth software and services have experienced significant growth due to the COVID-19 pandemic, which has led to hospitals facing an acute shortage of beds and resources, as well as social distancing norms. However, the hardware segment is projected to register the highest CAGR of 18.6% in the forecast period.
Teleradiology segment commanded the largest share of the telehealth market, by application, in 2019.
Based on application, the telehealth market has been segmented into teleradiology, teleconsultation, teleICU, telestroke, telepsychiatry, teledermatology, and other applications. By application, the teleradiology segment accounted for the largest share of the telehealth market in 2019. The factors such as- the increase in imaging practices, increase in teleradiology workflow adoption by healthcare providers, and the streamlining and regulation of teleradiology practices are some of the major factors driving the growth of this segment. Moreover, the COVID-19 pandemic has supported the use of teleradiology, as radiologists seek to reduce patient exposure while still ensuring sufficient output.
Providers segment accounted for the largest end-user segment of the telehealth market.
Based on end-users, the telehealth market is segmented into providers, payers, patients and the other end users. The provider's segment accounted for the largest share of the global telehealth and telemedicine market, by end-user, in 2019. Factors contributing to the large share of this segment include the increase in adoption of remote monitoring in chronically ill and old aged patients, advancements in telehealth monitoring devices, the increased number of tele-specialty services offered by the providers, and the significant impact of COVID-19 pandemic, which has led to hospitals facing an acute shortage of beds and resources.
Get 10% Customization on this Research Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=201868927
North America dominates the telehealth market during the forecast period.
In 2019, North America accounted for the largest share of the telehealth market, followed by Europe. This large share can be attributed to factors such as the rising prevalence of chronic conditions in the region, the need to reduce healthcare expenditure, increasing overall and geriatric population. Additionally, the growing need to curtail COVID-19 cases, federal mandates to increase healthcare facilities, and a growing focus on improving the quality of care delivered to COVID-19 patients are some key factors driving the growth of the telehealth market in the US in the wake of COVID-19. However, the Asia Pacific region is expected to grow at the highest rate during the forecast period.
The key players operating in the telehealth market are Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland),GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers (Germany), Cisco Systems, Inc. (US), Teladoc Health Inc. (US), American Well (US), AMC Health (US), MDLive (US), Doctor on Demand (US), Medvivo Group Ltd (UK), Asahi Kasie Corporation (Japan), Iron Bow Technologies (US), Telespecialists Llc (US), GlobalMed (US), MedWeb (US), IMediplus Inc. (China), Vsee (US), Chiron Health (US), Zipnosis (US)
Browse Adjacent Markets: Healthcare IT Market Research Reports & Consulting
Get Special Pricing on Bundle Reports: https://www.marketsandmarkets.com/RequestBundleReport.asp?id=201868927
Browse Related Reports:
Teleradiology Market by Products & Services (Services, Hardware, Software (PACS, RIS)), Imaging Technique (MRI, CT, X-ray, Ultrasound, Mammography, Nuclear Imaging), End User (Hospitals, Diagnostic Centers & Laboratories), COVID-19 Impact - Forecast to 2025
Wearable Healthcare Devices Market by Type (Diagnostic (ECG, Heart, Pulse, BP, Sleep), Therapeutic (Pain, Insulin)), Application (Fitness, RPM), Product (Smartwatch, Patch), Grade (Consumer, Clinical), Channel (Pharmacy, Online) - Global Forecast to 2025
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/telehealth-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/telehealth.asp