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Telehealth Market Size Worth USD 598.3 Billion in 2028-Emergen Research

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Increasing focus by leading players to bring about innovation in the digital diagnostic industry is one of the major factors driving revenue growth of the

Increasing focus by leading players to bring about innovation in the digital diagnostic industry is one of the major factors driving revenue growth of the telehealth market”
— Emergen Reseach

VANCOUVER, BRITISH COLUMBIA, CANADA, September 22, 2022 /EINPresswire.com/ -- Increasing focus by leading players to bring about innovation in the digital diagnostic industry is one of the major factors driving revenue growth of the telehealth market

The global telehealth market size reached USD 70.5 Billion in 2020 and is expected to register a revenue CAGR of 29.2% during the forecast period, according to latest analysis by Emergen Research.

Rising healthcare expenditure and increasing prevalence of chronic diseases are some of the major factors boosting revenue growth of the market. In addition, significant increase in government expenditure on healthcare information Technology (HCIT) sector and rising focus among key players toward bringing innovation into digital diagnostics is further driving market growth. Moreover, continuous advancements in medical diagnostic technologies are projected to create lucrative opportunities for the growth in the near future.

The COVID-19 pandemic has resulted in increasing demand for telemedicine consultations among patients. For example, Apollo TeleHealth has reported a three-fold increase in teleconsultation demand through their different projects and initiatives during the COVID-19 lockdown since March 2020. These factors are also contributing to growth of the telehealth market.

However, lack of trained professionals in remote areas, privacy and information security concerns, and low availability of telecommunication bandwidth are major factors adversely affecting growth of the target market.

The report is the latest document covering the massive impact of the COVID-19 pandemic on the worldwide Telehealth industry. The globally-disrupting incidence has impacted nearly every aspect of this business domain. The latest study expounds on the present market scenario and forecasts the pandemic’s aftermath in this industry. Furthermore, the market’s most prominent aspects have been discussed in the report, with expert opinions on the current market status.

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Telehealth Market Competitive Landscape:

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), and Zipnosis (US).

Emergen Research has segmented global telehealth on the basis of type, component, deployment model, application, end-use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

Services

Remote Patient Monitoring

Store-and-forward

Live Video-Conferencing

Mobile Health

Software

Integrated Software

Standalone Software

Hardware

In-home messaging device

Video telemonitor

Interactive Voice Response (IVR)

Medical Peripheral Devices

Blood Pressure Monitors

Blood Glucose Monitors

Weighing Scales

Pulse Oximeters

Peak Flow Meters

ECG Monitors

Other Devices

Deployment Model Outlook (Revenue, USD Billion; 2018–2028)

Web & Cloud-based

On-premises

Application Outlook (Revenue, USD Billion; 2018–2028)
Radiology

Cardiac Monitoring

Primary/Urgent Care

Neurophysiological Monitoring

Remote ICU

Mental Health

Other Applications

End-use Outlook (Revenue, USD Billion; 2018–2028)
Healthcare Providers

Healthcare Payers

Patients

Other End-uses

Some Key Highlights from the Report
Tele-home segment revenue is expected to expand at rapid CAGR during the forecast period owing to the COVID-19 pandemic.

Software segment is expected to register a significantly robust revenue growth rate over the forecast period. The software segment is further sub-segmented into integrated software and standalone software. Integrated software has higher adoption rate than standalone software due to wider range of applications and cost-effectiveness. Some of the examples of integrated systems are exam cameras, networked devices & software, and telehealth stations.

In August 2021, TeleSpecialists, LLC, which is a national leader in hospital-based telemedicine and quality management services, announced the launch of their TelePsychiatry services in hospitals for adult, adolescent, and pediatric patients.

North America is expected to register a considerably steady revenue growth rate in the global telehealth market over the forecast period due to presence of major telehealth system providers such as GE Healthcare, IDEXX Laboratories, Inc., Carestream Health, Inc., and Diagnostic Imaging Systems, Inc., among others.

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Key Questions Addressed in the Report:

Who are the leading players of the Telehealth industry?

Which region is expected to dominate the market in the coming years?

What are the key applications of the Telehealth market?

Which segment is expected to garner traction during the coming years?

Key Regional Markets Analyzed in the Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In conclusion, the report provides a qualitative and quantitative analysis of the Global Telehealth market, including the global and regional analysis of the market. The study covers critical information and factual data about the Telehealth industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Telehealthmarket is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Telehealth industry.

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