Telehealth/Telemedicine Market by Component (Software & Services, RPM, Real-Time), Application (Teleradiology, Telestroke, TeleICU), Hardware (Glucose Meters), End-User (Provider, Payer, patient), Delivery (On-Premise, Cloud) Global Forecast to 2025
The global telehealth/telemedicine market is expected to grow at a CAGR of 37.7% during the forecast period, to reach USD 191.7 billion by 2025 from an estimated USD 38.7 billion in 2020. The key factors driving the growth of this market include the need to expand healthcare access, the growing prevalence of chronic diseases and conditions, a shortage of physicians, advancements in telecommunications, government support and raising awareness, and rising technology adotioon in the wake of COVID-19. However, regional variations in regulations, fraud, and the use of social media for care providers will restrict the market growth during the forecast period.
“The software & services segment will grow at the highest rate during the forecast period.”
Based on components, the telehealth market is segmented into software & services and hardware segment. The software & segment accounted for the largest share of the telehealth market in 2019. The large share of this segment is mainly due to the increasing adoption of telehealth and telemedicine across the globe. The hardware segment is projected to register the highest CAGR of 18.6% in the forecast period.
“By delivery mode, the cloud-based segment accounted for the largest share of the telehealth market in 2019.”
Based on the mode of delivery, the global telehealth market is segmented into cloud-based and on-premise segments. The human pathology segment accounted for the largest share of the telehealth market in 2019. The major factors driving the market for cloud-based delivery mode segments are the on-demand nature of the services, their easy scalability, and the costs-curtailing nature of cloud-based solutions.
“The market in Asia Pacific is projected to witness the highest share during the forecast period (2020–2025)”
Asia Pacific is projected to register the highest growth during the forecast period. This large share can be attributed to factors such as the rising prevalence to factors such as the rising prevalence of chronic conditions, the need to reduce healthcare expenditure, increasing overall and geriatric population.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type (Supply-side): Tier 1: 29%, Tier 2: 37%, and Tier 3: 34%
• By Category (Demand-side): Hospitals and Clinics, Independent Physicians 55%, Payers 35%, and Patients: 10%
• By Designation: C-level: 35%, Director-level: 25%, and Managers: 40%
• By Region: North America: 35%, Europe: 32%, Asia: 22%, and the RoW: 11%
Koninklijke Philips (Netherlands), and Medtronic (Ireland), GE Healthcare (US) are the leading players in the global telehealth market. Other notable players in this market include Cerner Corporation (US), Siemens Healthineers (Germany), Cisco Systems, Inc. (US), Teladoc Health Inc. (US), American Well (US), AMC Health (US), MDLive (US), Doctor on Demand (US), Medvivo Group Ltd (UK), Asahi Kasie Corporation (Japan), Iron Bow Technologies (US), Telespecialists Llc (US), GlobalMed (US), MedWeb (US), IMediplus Inc. (China), Vsee (US), Chiron Health (US), Zipnosis (US), AMD Global Telemedicine (US), MyTelemedicine (US), Telemedicine.com (US), CareClix Telemedicine (Washington, D.C.).
The report analyzes the telehealth market and aims at estimating the market size and future growth potential of this market based on various segments such as product, type, application, end-user, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the digital pathology market. The report analyzes the market based on the product, type, application, end-user, and region.
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the digital pathology market.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of digital pathology solutions across regions.
• Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the digital pathology market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the digital pathology market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook