Global Telehealth and Telemedicine Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global telehealth and telemedicine market in its upcoming report titled, “Global Telehealth and Telemedicine Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global telehealth and telemedicine market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global telehealth and telemedicine market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global telehealth and telemedicine market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global telehealth and telemedicine market report has been segmented on the basis of component, application, end user, and region.
Telehealth is an electronic information and telecommunications technologies to support long-distance clinical healthcare, patient and professional health-related education, and public health administration. Telemedicine was first used primarily for military and space applications, but has been gaining traction in recent years. Interest for telemedicine is growing in the healthcare sector globally, especially in the fields of teleradiology, telepathology, and teledermatology. Telemedicine offers high potential in terms of reducing healthcare cost and increasing efficiency through better management of chronic diseases, sharing health professional staffing, reducing travel time, and enabling fewer or shorter hospital stays.
A growing need to increase the reach of improved medical care facilities and increasing demand to integrate digital healthcare systems are some of the key factors driving growth of the global telehealth and telemedicine market. In addition, the increase in government financial support, rise in an aging population, rising prevalence of chronic diseases, tremendous growth of the telecommunication sector, and rising adoption of related healthcare IT solutions are some of the other factors boosting the demand for telehealth and telemedicine solution in the global market.
However, certain barriers such as healthcare providers sometimes resist innovation in telehealth and telemedicine because it creates competition. High costs of telehealth devices, high maintenance and service costs, and shortage of trained telehealth and telemedicine professionals are some of the major factors that are anticipated to restrain growth of the global telehealth and telemedicine market during the forecast period.
Currently, the market in North America dominates the global telehealth and telemedicine market in revenue terms. This is attributed to presence of advanced medical services and increasing government initiatives for creating awareness about telehealth and telemedicine in the region. In terms of CAGR, the market in Asia Pacific is projected to have fastest growth over the forecast period, owing to growing demand for healthcare IT services in emerging economies in the region.
Global telehealth and telemedicine market segmentation by component:
Global telehealth and telemedicine market segmentation by application:
- Remote monitoring
- Interactive services
Global telehealth and telemedicine market segmentation by end user:
Global telehealth and telemedicine market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Philips Healthcare
- Medtronic plc
- Honeywell Life Care Solutions
- Tunstall Healthcare
- Care Innovations
- Cerner Corporation
- Cisco Systems, Inc.
- Medvivo Group Ltd.
- GlobalMedia Group
- Aerotel Medical Systems Ltd.
- AMD Global Telemedicine, Inc.
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