Telehealth Market Size to Surpass a Valuation of USD 16173.8 Mn by 2024

Telehealth Market Overview: 

The global telehealth market report, as declared by Market Research Future (MRFR), would transcend a valuation of USD 16173.8 Mn by 2024 with a CAGR of 22.74% during the forecast period, including 2019 to 2024.  

Among major factors, the growing geriatric population is expected to provide high traction to the telehealth market. Increasing digitalization, better investment to boost healthcare infrastructure, high inclusion rate of latest devices, surging demand for a remote check-up, easy of treatment, and others are expected to boost the global telehealth market. 

However, lack of expertise in the telehealth sector can slow down the market in the coming days.  

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Telehealth Market Segmentation: 

The global telehealth market report, as per the detailed analysis of MRFR, has a strong premise that includes mode of delivery, application, component, and end user. 

By component, the telehealth market includes software, services, and hardware. The services segment is responsible for the largest share of the global market. The software segment has the possibility to record the fastest-growth by expanding the customer base. The hardware segment includes medical peripherals, monitoring devices, and others. The market, by monitoring devices, comprises stationary and wearable monitoring devices. The medical peripherals consist ECG monitors, blood pressure monitors, peak flow meters, otoscopes, pulse oximeters, blood glucose meters, and others. The software segment includes integrated software and standalone software. By services, the market study is covering real-time interactions, remote monitoring, and store-and-forward consultations. 

By mode of delivery, the telehealth market includes web/cloud-based and on-premise. The web/cloud-based segment held better market share due to wide preferability, but the on-premise segment may register the fastest growth. 

By application, the report is segmented into cardiology, primary care, radiology, neurophysiology, and others. The radiology segment had a better market share, but the cardiology segment can be the one with the fastest growth rate. 

By end use, the market includes hospitals & clinics, home care, diagnostic clinics, and others. The hospitals and clinics segment is leading. The diagnostic clinics segment may be the fastest-growing segment. 

Telehealth Market Regional Analysis: 

North America would make sure its technological superiority helps in retaining its dominant market position. This growth would depend on a well-structured infrastructure with provisions for an easy cash influx. Europe's trajectory would be similar. The Asia Pacific region would benefit from the rise in expenditure of emerging nations for the healthcare sector and growing digitalization.  

Telehealth Market Competitive Landscape: 

The global market for telehealth is slated to benefit from tactical moves of companies like AMD Global Telemedicine Inc. (US), Boston Scientific Corporation (US), Allscripts Healthcare Solutions (US), Right Health (Canada), InTouch Technologies Inc. (US), Medtronic PLC (Ireland), American Well (US), GlobalMed (US), Care Innovations LLC (US), Siemens (Germany), Honeywell International Inc. (US), Dialogue (Canada), Maple (Canada), Cisco Systems Inc. (US), Philips Healthcare (Netherlands), Cerner Corporation (US), and Livecare Health (Canada). These companies and their strategies aimed at taking the market on a path where they will explore better trajectories. The report maps various tools like mergers, acquisitions, hike in innovations, better inclusion rates in various sectors, improved inclusion rate of digitalization, and others as major contributing factors for the market.  

Telehealth Industry News: 

The Centers for Medicare and Medicaid Services (CMS) made announced that they are now going to expand their services to various Medicare members and will bring in over 80 new services under its purview. In this, the government will take care of substantial battle against coronavirus. Other virus-related cases will also find inclusion in the study. This will also include some neurological and psychological studies as well. 

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