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Telehealth could be effectively utilized to improve diagnosis, treatment, and supportive care of chronic diseases such as diabetes and cancer. It can be used to address the rising global demand for healthcare services for cancer, diabetes, and other conditions. Telehealth offers major five benefits such as improved outcomes and enhanced care-coordination that drive clinical efficiency & consumer engagement, and most importantly, all this at much-reduced costs.Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/900
MRFR, in its recently published analysis, also asserts that the market would register a CAGR over 22.74% throughout the forecast period (2019 – 2024).
The proliferation of the internet, smartphones, portable connected devices, and advancements in telemedicine technologies are some of the key driving forces expected to influence the growth of the telehealth market. Moreover, the wide range of clinical applications is providing impetus to market growth, enabling distant patient care through remote advice, reminders, monitoring, intervention, admissions, and clinical education.
Specialized offerings and SaaS platforms are projected to bring various notable product developments. Vendors providing ‘Full service’ offerings are expected to shift to this robust technology utilizing SaaS business models. Superior technology platforms will surpass, facilitating remote connections, and integrate into their technology stack. Successful infrastructure and SaaS will be customized as per the buyer and clinical use cases.
Telehealth is garnering colossal prominence in the healthcare industry as patients, providers, payers, employers, and legislators have begun to acknowledge its significant capabilities and cost-effective solutions. The uptake of telehealth is continuously rising as more users consider it as a viable alternative to the traditional, in-person visits.
Since, the patients’ journey is unlikely to change these services need to integrate seamlessly into a familiar payer or provider framework in terms of access, reimbursement, etc. to drive the utilization. Patients strive to balance cost and quality of care actively, and as the acceptance of telehealth increases among patients, the market would witness high growth in terms of value.
Global Telehealth Market - Segmentations
The report is segmented into five market dynamics to widen the scope of understanding,
By Component : Hardware, Software, and Services.
By Mode Of Delivery : Web/Cloud-based and On-premise
By Application : Radiology, Cardiology, Primary Care, and Neurophysiology, among others.
By End-user : Hospitals & Clinics, Diagnostic Centers, and Home Care, among others.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Telehealth Market - Regional Analysis
North America leads the global telehealth market, accounting for the largest market share. The increasing adoption of telehealth services, especially in the US alongside, favorable government policies and increased incentives drive the regional market growth. Moreover, well-developed healthcare infrastructure and high healthcare expenditure act as a significant tailwind substantiating the market growth in the region, allowing a suitable environment for advancements and adoption of related technologies. The US and Canada are estimated to boost the market growth in the region, heading with their successfully implemented telehealth facilities. Besides, favorable government initiatives in executing telehealth regulatory framework in the region are expected to propel the market growth over the forecast period.
The telehealth market in the European region takes the second-leading position, growing at a considerable CAGR. The paradigm shifts toward more organized and continuous healthcare monitoring is a key driving force behind the growth of the regional market. Moreover, favorable governmental support and initiatives drive the regional market growth, extensively. Also, the proliferating healthcare sector in the region continually rising due to the resurging economy is fostering the market growth radiantly.
Germany is the largest telehealth market in the region, leading the connected healthcare deployments in Europe. Increased digitization and focus on data quality management, data integration, and data governance, would drive the growth of telehealth market in the European region.
The Asia Pacific telehealth market is rapidly emerging as a profitable market globally. The region demonstrates tremendous development opportunities that alongside, the continually developing healthcare infrastructure in the region propels the growth of the telehealth market. The market observes the increasing adoption of telehealth in quadrupling numbers of healthcare facilities. Rapidly developing countries, India, China, and Japan drive the regional market growth, majorly due to the wide adoption of telehealth management products and services.
Global Telehealth Market – Competitive Landscape
Highly competitive, the global telehealth market appears to be fragmented due to the presence of many well-established players. Players increasingly seek market expansion through various strategic approaches such as M&A, collaboration, and innovations. They also make substantial investments in R&D activities to develop a cost-effective product portfolio. These players focus on optimizing situational awareness towards customers to ensure their mission success. Investments are majorly used to bring innovations as well as to expand their market presence.
Major Players
Players leading the global telehealth market include AMD Global Telemedicine Inc. (US), Boston Scientific Corporation (US), Siemens (Germany), Right Health (Canada), Allscripts Healthcare Solutions (US), American Well (US), Care Innovations LLC (US), GlobalMed (US), Honeywell International Inc. (US), Medtronic PLC (Ireland), InTouch Technologies Inc. (US), Philips Healthcare (Netherlands), Dialogue (Canada), Cerner Corporation (US), Maple (Canada), Livecare Health (Canada), and Cisco Systems Inc. (US), among others.
Industry/Innovation/Related News:
September 03, 2019 ---- The University of Alabama-Birmingham (UAB - the US) announced receiving a grant of USD 200,000 from the Appalachian Regional Commission to build three telemedicine stations at Bibb Medical Center in Bibb County and three more at North Alabama Medical Center in Lauderdale County.
UAB mentioned that the decision aligns with its strategy to extend its telehealth network also to add maternal-fetal medicine to its list of connected health services. The platform gives those rural hospitals access to specialists at UAB, while also enabling providers to see more patients. The project is expected to complete by the end of the year.
September 04, 2019 ---- The United Health Foundation (the US), a philanthropic arm of UnitedHealth Group announced its partnership with The Health Wagon, a free clinic for the underserved areas of the Appalachian region. United Health Foundation would donate USD 1 MN to expand telehealth services in rural Appalachia. New services will include mammography, X-ray, ultrasound, and dental offerings, while existing services will be able to expand to more people, via telehealth and in person at two mobile units, two stationary clinics, and regular pop-up events.
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