Telehealth Market size to grow by USD 109.98 billion| Increasing Cases of Chronic Diseases as Key Driver | Technavio

[ad_2]

NEW YORK, Feb. 11, 2022 /PRNewswire/ — According to the market analysis report titled “Telehealth Market by Product and Geography – Forecast and Analysis 2021-2025“, the market will witness a YOY growth of 23.87% in 2021 at a CAGR of 30.44% during the forecast period. The report is segmented by product (services and solutions) and geography (North America, Europe, Asia, and ROW).

For more insights on YOY and CAGR, Read our FREE Sample Report

Vendor Insights 

The telehealth market is fragmented, and the vendors are deploying growth strategies such as the introduction of low-cost plans and partnerships with other key players to compete in the market. Market vendors are focusing on the growth aspects in the fast-growing segments while maintaining their positions in the slow-growing segments. Companies are launching innovative products to beat the cutthroat competition. They are also deploying cutting edge technologies to stay up in the game during the forecast period.   

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• American Well Corp.
• Cisco Systems Inc.
• Doctor On Demand Inc.
• Enghouse Systems Ltd.
• General Electric Co.
• Honeywell International Inc.
• Koninklijke Philips NV
• MDLIVE Inc.
• Medtronic Plc
• Teladoc Health Inc.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report. 

Geographical Market Analysis 

North America was the largest revenue-generating regional segment of telehealth market in 2020. The regional growth is mainly attributed to the increasing incidences of chronic diseases such as cancer and cardiovascular diseases (CVDs), adoption of advanced technologies in telehealth, increasing healthcare expenditure, and the presence of many prominent vendors. In addition, the demand for reducing the overall healthcare cost is increasing the adoption of telehealth technology by healthcare providers and patients, thereby boosting the growth of the telehealth market in North America.

Europe, on the other hand, accounted for the fastest growing regional segment of telehealth market. The year-on-year growth during this period will vary between 25.73% and 35.62% for Europe. The telehealth market in Europe will grow at a significant rate during the forecast period owing to various factors such as the increasing prevalence of chronic diseases, increasing technological advancements, rising healthcare expenditure, and the presence of prominent vendors in the region. The region is likely to contribute to 34% of the total telehealth market growth contribution during the forecast period.

Know more about this market’s geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/telehealth-market-industry-analysis 

Key Segment Analysis

The telehealth market is segmented by product into services and solutions. Telehealth includes a wide array of remote healthcare services. In addition to clinical services, telehealth services also provide non-clinical services such as administrative meetings, training of healthcare providers, patient education, and medical education, and public health and health administration. Prominent vendors offer various telehealth services. For instance, Iris Telehealth offers telepsychiatry services that help in providing quality psychiatric care in hospital settings.

View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years. 

Key Market Drivers & Challenges: 

Increasing cases of chronic diseases is one of the key drivers influencing the market positively during the forecast period. The growing incidences and prevalence of chronic diseases such as cardiovascular diseases (CVDs), cancer, Alzheimer’s disease, asthma, chronic obstructive pulmonary diseases (COPDs), and diabetes are fueling the demand for telehealth services and solutions. In addition, the use of telehealth helps in the effective management of chronic diseases and helps patients consult medical professionals in time by using mobile devices, live videos, and other smart digital tools. It enables cost-effective patient management by minimizing hospitalizations and frequent visits to hospitals and clinics, in turn, driving the telehealth market growth.

However, privacy and data concerns are crucial factors impeding the market growth. The collection and aggregation of data such as patients’ health details, clinical information, and others are integral and an important part of providing patient care with telehealth technology.  Maintaining security and confidentiality is an integral part of the telehealth ecosystem to build trust among healthcare providers and patients. Unauthorized access of medical data, data theft, data breaches and hacking by unauthorized people or data hackers, and the loss of data during the transmission of patient data on cloud-based networks in telehealth are major threats that are expected to hamper the uptake of telehealth services to a certain extent.

Download free sample for highlights on market Drivers & Challenges affecting the telehealth market. 

Customize Your Report 

Don’t miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.  

We offer USD 1,000 worth of FREE customization at the time of purchase. Speak to our Analyst now! 

  Related Reports: 

Healthcare Archiving Ediscovery Market by Deployment and Geography – Forecast and Analysis 2022-2026

Healthcare Fraud Detection Market by Type and Geography – Forecast and Analysis 2022-2026

Table of Content

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Services – Market size and forecast 2020-2025
• Solutions – Market size and forecast 2020-2025
• Market opportunity by Product

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America – Market size and forecast 2020-2025
• Europe – Market size and forecast 2020-2025
• Asia – Market size and forecast 2020-2025
• ROW – Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• American Well Corp.
• Cisco Systems Inc.
• Doctor On Demand Inc.
• Enghouse Systems Ltd.
• General Electric Co.
• Honeywell International Inc.
• Koninklijke Philips NV
• MDLIVE Inc.
• Medtronic Plc
• Teladoc Health Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us: 

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

Contact 

Technavio Research 

Jesse Maida 

Media & Marketing Executive 

US: +1 844 364 1100 

UK: +44 203 893 3200 

Email: media@technavio.com 

Website: www.technavio.com/ 

View original content to download multimedia:https://www.prnewswire.com/news-releases/telehealth-market-size-to-grow-by-usd-109-98-billion-increasing-cases-of-chronic-diseases-as-key-driver–technavio-301479763.html

SOURCE Technavio

Source link
[ad_2]
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.

[ad_2]