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Global Telehealth Market Projected to Reach USD 475.50 Billion By 2026

24-Jun-2021 | Facts and Factors

We at Facts & Factors have recently published a new market study titled “Global Telehealth Market” that echoes an analytical overview of the market during the projected forecast period. We estimate that the global Telehealth Market will grow at a CAGR value of 26.5% from an initial value of USD 62.45 Billion in the year 2020 to a value of USD 475.50 Billion in the year 2026.

Telehealth is a technological form of delivering healthcare services over a range of communicative technologies such as mobile devices and computers from a remote location. Telehealth services are often considered as the primary source of providing healthcare services to people living in rural areas and consumers with sources presiding with limited mobility, time, and transportation capabilities. The driving factors behind the significant growth of the telehealth market can be contributed to an increased adoption rate of telehealth technology in the field of radiology, cardiology, and behavioral health among others.

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Furthermore, a rising trend of online consultation services will further propel the growth of the global telehealth market towards a positive outlook. Additional factors include the increasing rate of elective surgeries and reduced hospital visits for regular checkups will further increase the footprint of the market during the forecast. The advent of COVID-10 has tightened social distancing norms which increases the value of telehealth products and solutions during the forecast. The rise in population, increased demand for expanding healthcare access, growing prevalence of chronic diseases and conditions among others will further nudge the market toward a ballooned state.

Top Market Players

The key participants in the global telehealth market are American Well, MDLIVE, Inc., Teladoc Health, Inc., Doctor on Demand, Inc., Dictum Health, Inc., Grand Rounds, Inc., OpenTelehealth, Medtronic, GE Healthcare, Cerner Corporation, Teladoc Health, Inc., Asahi Kasie Corporation, Iron Bow Technologies, Telespecialists, LLC, and GlobalMed among others.

Market Dynamics

Here are the key developments in the global telehealth market that are expected to shape the outcome of the sector:

  • The Ministry of Health and Family Welfare of India collaborated with the Board of Governors and NITI Aayog to issue guidelines for telemedicine practice in India paving the way for a large consumer base available for service.
  • Teladoc Health acquired InTouch Health which further provides the latter with an established network of 450 hospitals.
  • Zava recently announced a USD 32 Million investment series A funding for expanding in the region of Europe from the equity firm HPE Growth.

The global telehealth market can be divided into telemedicine, patient monitoring, continuous medical education, and others on the basis of type. The telemedicine segment can be further broken down into teleradiology, teleconsultation, tele-ICU, telestroke, telepsychiatry, and teledermatology. The segment of telemedicine is expected to witness the largest market share during the forecast owing to a surge of physicians joining telehealth platforms coupled with increased adoption of software and growing emphasis on continuous patient care.

The global telehealth market can be divided into healthcare facilities, home care, and others on the basis of end-users. The healthcare facilities segment will account for the largest market share during the forecast in terms of global revenue contribution. Factors contributing to the dominant position of the market are increasing telehealth solutions in order to lessen the burden on medical specialists and a rise in government expenditure for similar applications.

North America Is Expected To Exhibit Highest Market Share During the Forecast Period

North America is expected to witness the largest market share during the advent of the forecast in terms of market share. Factors contributing to the dominant position of the region can be due to the presence of key players in the region, increased prevalence of healthcare facilities, improving technological advancements, and increased government facilities for the same will further boost the market footprint during the forecast. Asia-Pacific is expected to witness the fastest growing CAGR during the forecast period.

Browse in the full report “Telehealth Market by Type (Hardware, Software, & Services), By Application (Telemedicine, Patient Monitoring, Continuous Medical Education, & Others), By Modality (Store-and-Forward, Real-Time, & Remote Patient monitoring), By Mode of Delivery (Cloud-Based & On-Premises), By End-Users (Healthcare Facilities, Homecare, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/telehealth-market

The global telehealth market can be segmented into:

Global Telehealth Market: By Type Segment Analysis

  • Hardware
  • Software
  • Services

Global Telehealth Market: By Application Segment Analysis

  • Telemedicine
    • Teleradiology
    • Teleconsultation
    • Tele-ICU
    • Telestroke
    • Telepsychiatry
    • Teledermatology
  • Patient Monitoring
  • Continuous Medical Education
  • Others

Global Telehealth Market: By Modality Segment Analysis

  • Store-and-Forward
  • Real-Time
  • Remote Patient monitoring

Global Telehealth Market: By Mode of Delivery Segment Analysis

  • Cloud-Based Delivery
  • On-Premises Delivery

Global Telehealth Market: By End-Users Segment Analysis

  • Healthcare Facilities
  • Homecare
  • Others

Global Telehealth Market: By Regional Segment Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

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