Telehealth Market Growth Analysis, Top Key Players, and Industry Statistics, 2021-2028

Telehealth Market Size – USD 37.63 Billion in 2020, Market Growth – at a CAGR of 35.30%, Market Trends- High adoption of telehealth services during coronavirus outbreak

The global telehealth market is expected to reach USD 440.77 Billion in 2028 and register a robust revenue CAGR of 35.30% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are increasing geriatric population, high awareness about telehealth services, increasing penetration of the internet, and rising number of smartphone users across the globe. 

Telehealth is the use of telecommunication services to provide healthcare virtually. It is best suited for elderly patients or people who cannot easily get to their healthcare providers. These services are cheaper than in-person consultations, don’t require waiting in hospital/clinic queues, and can be accessed using smartphones and tablets via voice or video call. Telehealth service has been beneficial after the COVID-19 outbreak as people are preferring online consultations to limit risk of exposure to infections. Increasing government initiatives to promote these services and products, dearth of physicians and medical specialists, higher focus on improving healthcare infrastructure and facilities, and rising demand for remote patient monitoring among geriatric population and patients living in remote areas are key factors boosting global market growth. In addition, rising investments by various public and private organizations and increasing focus on developing more enhanced telehealth services and products are expected to fuel global market growth in the near future. 

However, factors such as regional regulatory variations, rising number of fraudulent activities, increasing concerns about data security, low acceptance of telehealth services by certain physicians and elderly population, and technological barriers such as large data storage issues, as well as poor internet services are expected to hamper overall market growth going ahead.

In-depth Study of the Competitive Landscape:

The global Telehealth market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers acquisitions, joint ventures, collaborations, partnerships, and agreements, to build on their market presence.

Top companies profiled in the report include:

Medtronic, GE Healthcare, Cerner Corporation, Cisco Systems, Siemens Healthineers AG, American Well, Asahi Kasei Corporation, Iron Bow Technologies, Teladoc Health Inc., SnapMD, Dictum Health, Inc., American Well, InTouch Health, Inc., MDLive, Inc., Koninklijke Philips N.V. AMC Health, Doctor on Demand, Inc., Medvivo Group Ltd., Telespecialists LLC., GlobalMed, MedWeb, iMediplus Inc., Vsee, Chiron Health, Zipnosis, Inc.

Key Market Regions Covered in the Report:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Component Outlook (Revenue, USD Billion, 2018-2028)

  • Software
  • Services
  • Hardware

Mode of Delivery Outlook (Revenue, USD Billion, 2018-2028)

  • Cloud-based
  • On-Premise

Technology Outlook (Revenue, USD Billion, 2018-2028)

  • Store and Forward
  • Real-time
  • Remote Patient Monitoring

Application Outlook (Revenue, USD Billion, 2018-2028)

  • Teleradiology
  • Tele-consultation
  • Tele-ICU
  • Tele-stroke
  • Tele-psychiatry
  • Tele-dermatology
  • Others

Frequently asked questions addressed in the report:

  • What is the revenue growth rate of the global Telehealth market over the forecast period?
  • What are the major factors driving the growth of the Global Telehealth Market?
  • What are the key challenges impacting the global Telehealth market growth?
  • What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

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