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Telehealth Market Worth USD 559.52 Billion at 25.2% CAGR; Fear of Virus Transmission through Hospital Travels to Spur Growth, Fortune Business…

Posted: September 23, 2020 at 9:56 am


Pune, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Global telehealth market is expected to grow astonishingly in the near future on account of the rising preference for e-visits. They provide easy access to the required doctors, lower outpatient department (OPD) waiting times, and are cost-effective. The report further mentions that this market size was USD 61.40 billion in 2019 and is projected to reach USD 559.52 billion by 2027, exhibiting a CAGR of 25.2% during the forecast period.

This Report Answers the Following Questions:

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Key Players Focus on Acquisition & Investment Strategies to Intensify Competition

The market consists of several enterprises that are presently aiming to follow the strategies, such as investments and acquisitions to gain a competitive edge. Some of them are also launching their own platforms owing to the current pandemic of COVID-19. Below are a couple of the latest industry developments:

The emergence of the COVID-19 pandemic is causing tremendous losses for a wide range of industries. Though most of them were completely shut since the past few months, a few of them have resumed their operations by following reduced workforce and social distancing measures. Our special research reports would help you in providing the best possible strategy that you can adopt to overcome this difficult phase.

To get to know more about the short-term and long-term impacts of the COVID-19 pandemic, please visit: https://www.fortunebusinessinsights.com/industry-reports/telehealth-market-101065

Fortune Business Insights lists out the names of every telehealth provider operating in the global market. They are as follows:

Rising Need to Maintain Social Distancing amidst COVID-19 will Favor Growth

The outbreak of the COVID-19 pandemic has reduced the demand for medical devices owing to the rising burden on healthcare professionals and hospitals, as well as reduced hospital visits. Besides, several cases of elective surgery have been postponed. This has opened doors to new opportunities for these platforms and software solutions. Hence, the demand for virtual consultations is anticipated to surge on account of the current scenario.

Telehealth is considered to be a very powerful weapon to battle the coronavirus pandemic. To avoid virus transmission while traveling to hospitals and clinics, people are rapidly inclining towards these digital platforms. Teladoc Health Inc., for instance, stated that as compared to the fourth quarter of 2019, the overall number of virtual consultations surged up to 60% and reached 2 million from January 2020 to March 2020.

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High Rural Population to Augment Growth in Asia Pacific

Based on geography, in 2019, North America procured USD 26.14 billion in terms of revenue. This growth is attributable to the presence of favorable health reimbursement policies, as well as several reputed companies in the region. Apart from that, the region is adopting the latest technologies in the field of telehealth at a fast pace. Asia Pacific, on the other hand, is anticipated to grow remarkably in the near future on account of high rural population, technological advancements in digital imaging, and enhancements in healthcare scenario.

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Telehealth Market Segmentations:

By Type

Products

Services

By Application

Telemedicine

Patient Monitoring

Continuous Medical Education

Others

By Modality

Store-and-forward (Asynchronous)

Real-time (Synchronous)

Remote Patient Monitoring

By End User

Healthcare Facilities

Homecare

Other

By Geography

North America (the U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)

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Have a Look at Related Reports:

Telemedicine Market Share and Global Trend By Type (Products, Services), By Application (Teleradiology, Telepathology, Teledermatology, Telepsychiatry, Telecardiology, Others), By Modality (Store-and-forward (Asynchronous) , Real-time (Synchronous), Others) and Geography Forecast till 2026

Teleradiology Market Share & Industry Analysis, By Imaging Technique (X-Ray, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound, Nuclear Medicine, and Others), By Component (Services & Software, and Product), By End User (Hospitals & Clinics, Diagnostic Centers and Others), and Regional Forecast, 2019-2026

Electronic Health Records (EHR) Market Share & Industry Analysis, By Product (Web-based, On-premise), By Type (Stand Alone, Integrated) By End User (Physicians Office, Hospitals, Others) and Regional Forecast, 2019-2026

mHealth Market Share & Industry Analysis, By Category (By Apps {Disease & Treatment Management, Wellness Management}, By Wearable {Body & Temperature Monitors, Glucose Monitors}) By Services Type (Monitoring Services, Diagnostic Services, Treatment Services) By Service Provider (mHealth App Companies, Hospitals, Health Insurance) and Regional Forecast, 2019-2026

mHealth Apps Market Share & Industry Analysis, By App Type (Disease & Treatment Management, Wellness Management, Others), By Application (Monitoring Services, Fitness Solutions, Diagnostic Services, Treatment Services, Others), By Operating System Type (Google Play Store, Apple App Store, Others) and Regional Forecast, 2019-2026

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Telehealth Market Worth USD 559.52 Billion at 25.2% CAGR; Fear of Virus Transmission through Hospital Travels to Spur Growth, Fortune Business...

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