According to our new research study on “Telehealth Market Forecast to 2025- Global Analysis by Product, Type, Mode of Delivery and End User,” the market is expected to reach US$ 52,897.2 million in 2025 from US$ 17,289.9 million in 2017; it is estimated to grow at a CAGR of 15.7% from 2016 to 2025. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the global telehealth market is attributed to the increasing prevalence of cardiovascular disease, home monitoring for the treatment and reducing cost for the chronic treatments. However, cyber threat and rise in data security and tricky policies and reimbursement rules are the major factor hindering the market growth.
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The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
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Based on mode of delivery, the global telehealth market is segmented into on-premise, web-based, and cloud- based. The web-based delivery mode held the largest market share in 2017. However, the cloud- based segment is estimated to grow at the fastest rate during the forecast period. Rising adoption of cloud based technology by telehealth providers to save patient data and allow access of data to other providers offer lucrative opportunities for the growth of cloud- based segment.
Medtronic, Cerner Corporation, Tunstall Healthcare, AMD Global Telemedicine, Inc., Philips Healthcare, Cisco Systems, Inc., Aerotel Medical Systems Ltd., Honeywell Life Care Solutions, Medvivo Group Ltd. and American Well are among the leading companies operating in the global telehealth Market.
The report segments global telehealth market as follows:
By Product
- Integrate
- Standalone
By Type
- Hardware
- Software
- Services
By Mode of Delivery
- On-Premise
- Web-Based
- Cloud-Based
By End- User
- Patients
- Payers
- Healthcare Providers
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
- Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
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