Telehealth Market to Grow at a CAGR of 13.5% by 2026

As per a research report compiled by Report Ocean, the Global Telehealth Market is expected to grow at a CAGR of 13.5% during the forecast period 2020-2026. The market study includes an in-depth analysis of the market by using various market research tools such as Porter’s Five Force Model, PEST Analysis, Market Estimation (Quantitively), Primary and Secondary Research, and many more tools.

Telehealth refers to a collection of methods or means to enhance public health, healthcare and health education support system through telecommunications. It encompasses a broad range of tactics and technologies to provide services for virtual medical and related services.

Global telehealth market is predicted to register a substantial growth over the forecast period, and the growth is supported by various market drivers such as high incidences of chronic diseases globally, increase in number of geriatric populations, lack of required number of physicians and others. Whereas, strict government regulations and privacy concerns are some of the hindering factors that may affect the market growth negatively over the forecast period.

The global telehealth market research study includes an analysis of the market from the view-point of various segments, such as:

• By Component
• By Deployment
• By End-User

These above-mentioned segments are further classified into various sub-groups, such as:

• Under Component Segment:
  • Hardware
  • Software
  • Service

• Under Deployment Segment:
  • On-Premise
  • Web/Cloud-based

• Under End-Users Segment
  • Payers
  • Providers
  • Patients

Regional Analysis

The Americas is estimated to account for highest revenue share followed by Europe. The market dominance of the Americas is majorly supported by high adoption of telehealth services in the U.S. Whereas, Asia-Pacific (APAC) is expected to show a growth under fastest growing category. The growth is based upon increasing a major chunk of geriatric population share in the region, lack of technical personnel and highly increasing incidences of chronic diseases in region. Moreover, increasing medical tourism in India, Malaysia, Thailand and Singapore are also playing a significant role in growth of telehealth market in APAC. On the other hand, the Middle East & Africa is expected to show a steady increase, owing to limited healthcare affordability and access among the population.

Competitive Landscape

The market research report includes detailed analysis of major companies present in the market and the analysis include company overview, Financial Overview, Products/Services Offered, Key Developments, SWOT Analysis, Key Strategies (Product Launch/Partnership/Collaboration/Joint Venture/Agreement/Merger & Acquisitions and others) related to the Telehealth Market. The major players present in the global telehealth market are:

• Allscripts Healthcare Solutions (US)
• AMD Global Telemedicine Inc. (US)
• American Well (US)
• Boston Scientific Corporation (US)
• Care Innovations LLC (US)
• Cerner Corporation (US)
• Cisco Systems Inc. (US)
• Dialogue (Canada)
• Honeywell International Inc. (US)
• GlobalMed (US)
• Livecare Health (Canada)
• InTouch Technologies Inc. (US)
• Maple (Canada)
• Medtronic PLC (Ireland)
• Philips Healthcare (Netherlands)
• Right Health (Canada)
• Siemens (Germany)