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Telehealth Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software, Services and Other Components), Modality (Remote Patient Monitoring, Real-Time and Store-And-Forward), Application (Telemedicine, Patient Monitoring, Continuous Medica

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from $4,150 175 Pages Stratistics Market Research Consulting March, 2023 SMR17801297
Best Price Guarantee
Price from $4,150
Length 175 Pages
Publisher Stratistics Market Research Consulting
Published Date March, 2023
SKU SMR17801297

Telehealth Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software, Services and Other Components), Modality (Remote Patient Monitoring, Real-Time and Store-And-Forward), Application (Telemedicine, Patient Monitoring, Continuous Medical Education and Other Applications), End User and Geography

According to Stratistics MRC, the Global Telehealth Market is accounted for $87.2 billion in 2022 and is expected to reach $394.4 billion by 2028 growing at a CAGR of 28.6% during the forecast period. The use of communications technologies to deliver healthcare remotely is known as telehealth. Owing to developments in communications, computer science, informatics, and medical technology, telehealth has become a useful tool. In telehealth, blood pressure, heart rate, and other measures are frequently continuously monitored and electronically transmitted to medical staff by a patient's wearable gadget.

According to “The European digital health revolution in the wake of COVID-19” published in April 2021, the European Commission proposed the EU4Health program as part of a COVID-19 recovery response program. The initiative aims to raise EUR 5.1 billion for the digital transformation of the European health sector and ensure preparedness for future cross-border health threats.

Market Dynamics:

Driver:

Governmental Initiatives in Momentum for Telehealth Solutions

The distance barrier has been successfully broken down by telehealth, facilitating the provision of healthcare in outlying areas. The majority of people live in rural areas without access to high-quality healthcare, particularly in developing nations. As a result, several governments are increasingly putting their attention on developing virtual care platforms to deliver healthcare services in remote areas, in order to encourage the expansion of the market; the government is creating trial programmes and policies. The introduction of electronic intensive care units (e-ICUs), which allow for remote patient monitoring via two-way cameras, high-speed internet, and electronic devices, is also supported by the governments of many different countries thus, propelling the market growth.

Restraint:

Technological barrier

Despite the tremendous potential of teleconsultation, infrastructure and technological limitations are a major hindrance to the market's growth in underdeveloped nations. The introduction of digital health platforms necessitates the use of reducing telecommunications equipment, high-speed internet with lots of bandwidth, and storage space for storing and transmitting medical data, all of which are still in short supply in many developing nations. A significant market limitation is the high cost of implementing the required systems, devices, and equipment connected with real-time measurement of healthcare data which hampers the market.

Opportunity:

Rising Healthcare Cost

The rising incidence of chronic diseases and the rising number of elderly people drive up healthcare costs dramatically. Huge sums of money have been spent on the diagnosis, treatment, and management of numerous diseases. The demand for technology-driven systems that can deliver high-quality healthcare while also lowering costs has surged as a result of this. Telehealth is quickly implemented in all healthcare facilities because it satisfactorily satisfies these objectives which will be accelerating the telehealth market growth.

Threat:

Healthcare exploitation

Regarding telemedicine activities, health care is a crucial factor. There are many ways in which a patient's name or a doctor's account can be utilized to obtain payments from the insurance company, or how organisational providers who are not eligible or listed can interact in inappropriate billing and coding for false allegations. Such deceptive procedures may lead to a decline in telehealth services' credibility and trust. Victimized patients often frequently publicise their unpleasant encounters in the market, which discourages many new competitors and restricts market expansion.

Covid-19 Impact

The world has come to a complete halt as a result of the unexpected COVID-19 pandemic outbreak. This pandemic is being fought globally, putting further strain on hospitals and medical staff. But this has also given digital health platforms new market opportunities. The current crisis is expected to greatly increase demand for virtual consultations. Moreover, in the combat against the COVID-19 epidemic, this has shown to be a potent weapon. Teleconsultation and remote monitoring services are becoming more popular. One of the key reasons for the increased demand for services is the strong emphasis on social distance between patients and doctors thus Covid 19 has shown a positive impact on the telehealth market.

The services segment is expected to be the largest during the forecast period

The Services segment is estimated to have a lucrative growth, due to the key drivers of the segment which includes the rapid rise in virtual consultations, rising funding for start-ups, and developing reimbursement guidelines for teleconsultations. In addition, online visits in some clinics, telemedicine may be used to provide care remotely. Clinics might provide virtual visits, for instance as well as remote monitoring enables you to speak with a nurse, mental health counsellor, or healthcare professional via phone or video chat as result of the segment's expansion.

The telemedicine segment is expected to have the highest CAGR during the forecast period

The telemedicine segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the provision of healthcare services, where distance is a significant barrier, by all healthcare professionals using information and communication technologies for the exchange of reliable knowledge for the diagnosis, treatment, and prevention of disease and injuries, research and evaluation, and for the continuing education of healthcare professionals, all in the pursuit of improving the health of individuals and their communities are providing a reliable growth of the market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the rising inclination for teleconsultation, strategic presence of important companies, and attractive health reimbursement. A Smart Suite, a mock-up of a home outfitted with mobile Health technologies to monitor the occupants, the expansion of the market in this region is anticipated to be fuelled by the rising burden of chronic illnesses and the high awareness of digital health & virtual care platforms among healthcare professionals & patients.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period; owing to increase as a result of factors including the growing senior population in nations like India and Japan, as well as technological developments in the field of digital health and research projects launched by the major players. Government activities that favourably improve internet access as well as the rising demand for healthcare and medical support in rural areas are also anticipated to have a beneficial impact on market expansion. Additionally, it is anticipated that the region's market will grow faster than average due to the region's shortage of healthcare experts and the requirement to control healthcare spending by boosting the market.

Key players in the market

Some of the key players profiled in the Telehealth Market include Honeywell International Inc., American Well, Boston Scientific Corporation, Medtronic PLC, Care Innovations LLC, GlobalMed, Siemens, AMD Global Telemedicine Inc., Allscripts Healthcare Solutions, Doctor on Demand Inc, Teladoc Health Inc, MDLIVE Inc, OpenTeleHealth, Grand Rounds Inc., Cisco Systems, Telespecialists and Medweb

Key Developments:

In Dec 2020, Care Innovations Collaborates with PWNHealth and Fulgent Genetics to Provide At-Home COVID-19 Test Capabilities, Enabled through a collaboration with PWNHealth and Fulgent Genetics (NASDAQ: FLGT), the testing capabilities expand PRA’s existing COVID-19 clinical monitoring, symptom reporting and management services that are available on the patient-facing Health HarmonyTM mobile app.

In Oct 2017, Care Innovations® and PRA Health Sciences Announce Strategic Partnership, The partnership will enable PRA to utilize the Care Innovations Health Harmony Platform, logistics services, internal resources and expertise to engage with patients in the home as part of their connected trials solution.

In Oct 2016, Care Innovations Launches Behavior Training Course for Clinicians to Drive Patient Behavior Change and Engagement for Improved Clinical Outcomes, The behavior training course outlines the challenges associated with trying to increase engagement, identifies areas for improvement, and highlights technology’s role in supporting these efforts.

Components Covered:
• Hardware
• Software
• Services
• Other Components

Modalities Covered:
• Remote Patient Monitoring
• Real-Time
• Store-And-Forward

Applications Covered:
• Telemedicine
• Patient Monitoring
• Continuous Medical Education
• Other Applications

End Users Covered:
• Hospitals & Clinics
• Diagnostic Centers
• Home Care
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Telehealth Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Monitors
5.2.2 Medical Peripheral Devices
5.3 Software
5.4 Services
5.5 Other Components
6 Global Telehealth Market, By Modality
6.1 Introduction
6.2 Remote Patient Monitoring
6.3 Real-Time
6.4 Store-And-Forward
7 Global Telehealth Market, By Application
7.1 Introduction
7.2 Telemedicine
7.3 Patient Monitoring
7.4 Continuous Medical Education
7.5 Other Applications
8 Global Telehealth Market, By End User
8.1 Introduction
8.2 Hospitals & Clinics
8.3 Diagnostic Centers
8.4 Home Care
8.5 Other End Users
9 Global Telehealth Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Honeywell International Inc.
11.2 American Well
11.3 Boston Scientific Corporation
11.4 Medtronic PLC
11.5 Care Innovations LLC
11.6 GlobalMed
11.7 Siemens
11.8 AMD Global Telemedicine Inc.
11.9 Allscripts Healthcare Solutions
11.10 Doctor on Demand Inc
11.11 Teladoc Health Inc
11.12 MDLIVE Inc
11.13 OpenTeleHealth
11.14 Grand Rounds Inc.
11.15 Cisco Systems
11.16 Telespecialists
11.17 Medweb
List of Tables
Table 1 Global Telehealth Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Telehealth Market Outlook, By Component (2020-2028) ($MN)
Table 3 Global Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
Table 4 Global Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
Table 5 Global Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
Table 6 Global Telehealth Market Outlook, By Software (2020-2028) ($MN)
Table 7 Global Telehealth Market Outlook, By Services (2020-2028) ($MN)
Table 8 Global Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
Table 9 Global Telehealth Market Outlook, By Modality (2020-2028) ($MN)
Table 10 Global Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
Table 11 Global Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
Table 12 Global Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
Table 13 Global Telehealth Market Outlook, By Application (2020-2028) ($MN)
Table 14 Global Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
Table 15 Global Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
Table 16 Global Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
Table 17 Global Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
Table 18 Global Telehealth Market Outlook, By End User (2020-2028) ($MN)
Table 19 Global Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
Table 20 Global Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
Table 21 Global Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
Table 22 Global Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
Table 23 North America Telehealth Market Outlook, By Country (2020-2028) ($MN)
Table 24 North America Telehealth Market Outlook, By Component (2020-2028) ($MN)
Table 25 North America Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
Table 26 North America Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
Table 27 North America Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
Table 28 North America Telehealth Market Outlook, By Software (2020-2028) ($MN)
Table 29 North America Telehealth Market Outlook, By Services (2020-2028) ($MN)
Table 30 North America Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
Table 31 North America Telehealth Market Outlook, By Modality (2020-2028) ($MN)
Table 32 North America Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
Table 33 North America Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
Table 34 North America Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
Table 35 North America Telehealth Market Outlook, By Application (2020-2028) ($MN)
Table 36 North America Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
Table 37 North America Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
Table 38 North America Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
Table 39 North America Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
Table 40 North America Telehealth Market Outlook, By End User (2020-2028) ($MN)
Table 41 North America Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
Table 42 North America Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
Table 43 North America Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
Table 44 North America Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
Table 45 Europe Telehealth Market Outlook, By Country (2020-2028) ($MN)
Table 46 Europe Telehealth Market Outlook, By Component (2020-2028) ($MN)
Table 47 Europe Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
Table 48 Europe Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
Table 49 Europe Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
Table 50 Europe Telehealth Market Outlook, By Software (2020-2028) ($MN)
Table 51 Europe Telehealth Market Outlook, By Services (2020-2028) ($MN)
Table 52 Europe Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
Table 53 Europe Telehealth Market Outlook, By Modality (2020-2028) ($MN)
Table 54 Europe Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
Table 55 Europe Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
Table 56 Europe Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
Table 57 Europe Telehealth Market Outlook, By Application (2020-2028) ($MN)
Table 58 Europe Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
Table 59 Europe Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
Table 60 Europe Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
Table 61 Europe Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
Table 62 Europe Telehealth Market Outlook, By End User (2020-2028) ($MN)
Table 63 Europe Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
Table 64 Europe Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
Table 65 Europe Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
Table 66 Europe Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
Table 67 Asia Pacific Telehealth Market Outlook, By Country (2020-2028) ($MN)
Table 68 Asia Pacific Telehealth Market Outlook, By Component (2020-2028) ($MN)
Table 69 Asia Pacific Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
Table 70 Asia Pacific Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
Table 71 Asia Pacific Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
Table 72 Asia Pacific Telehealth Market Outlook, By Software (2020-2028) ($MN)
Table 73 Asia Pacific Telehealth Market Outlook, By Services (2020-2028) ($MN)
Table 74 Asia Pacific Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
Table 75 Asia Pacific Telehealth Market Outlook, By Modality (2020-2028) ($MN)
Table 76 Asia Pacific Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
Table 77 Asia Pacific Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
Table 78 Asia Pacific Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
Table 79 Asia Pacific Telehealth Market Outlook, By Application (2020-2028) ($MN)
Table 80 Asia Pacific Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
Table 81 Asia Pacific Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
Table 82 Asia Pacific Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
Table 83 Asia Pacific Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
Table 84 Asia Pacific Telehealth Market Outlook, By End User (2020-2028) ($MN)
Table 85 Asia Pacific Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
Table 86 Asia Pacific Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
Table 87 Asia Pacific Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
Table 88 Asia Pacific Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
Table 89 South America Telehealth Market Outlook, By Country (2020-2028) ($MN)
Table 90 South America Telehealth Market Outlook, By Component (2020-2028) ($MN)
Table 91 South America Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
Table 92 South America Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
Table 93 South America Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
Table 94 South America Telehealth Market Outlook, By Software (2020-2028) ($MN)
Table 95 South America Telehealth Market Outlook, By Services (2020-2028) ($MN)
Table 96 South America Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
Table 97 South America Telehealth Market Outlook, By Modality (2020-2028) ($MN)
Table 98 South America Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
Table 99 South America Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
Table 100 South America Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
Table 101 South America Telehealth Market Outlook, By Application (2020-2028) ($MN)
Table 102 South America Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
Table 103 South America Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
Table 104 South America Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
Table 105 South America Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
Table 106 South America Telehealth Market Outlook, By End User (2020-2028) ($MN)
Table 107 South America Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
Table 108 South America Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
Table 109 South America Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
Table 110 South America Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
Table 111 Middle East & Africa Telehealth Market Outlook, By Country (2020-2028) ($MN)
Table 112 Middle East & Africa Telehealth Market Outlook, By Component (2020-2028) ($MN)
Table 113 Middle East & Africa Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
Table 114 Middle East & Africa Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
Table 115 Middle East & Africa Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
Table 116 Middle East & Africa Telehealth Market Outlook, By Software (2020-2028) ($MN)
Table 117 Middle East & Africa Telehealth Market Outlook, By Services (2020-2028) ($MN)
Table 118 Middle East & Africa Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
Table 119 Middle East & Africa Telehealth Market Outlook, By Modality (2020-2028) ($MN)
Table 120 Middle East & Africa Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
Table 121 Middle East & Africa Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
Table 122 Middle East & Africa Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
Table 123 Middle East & Africa Telehealth Market Outlook, By Application (2020-2028) ($MN)
Table 124 Middle East & Africa Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
Table 125 Middle East & Africa Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
Table 126 Middle East & Africa Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
Table 127 Middle East & Africa Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
Table 128 Middle East & Africa Telehealth Market Outlook, By End User (2020-2028) ($MN)
Table 129 Middle East & Africa Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
Table 130 Middle East & Africa Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
Table 131 Middle East & Africa Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
Table 132 Middle East & Africa Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)

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