DUBLIN–(BUSINESS WIRE)–The “Telehealth Market Size, Share & Trends Analysis Report By Product Type (Hardware, Software, Services), By Delivery Mode (On-premise, Web-based, Cloud-based), By End Use, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global telehealth market size is expected to reach USD 455.3 billion by 2030. The market is expected to exhibit a CAGR of 24.0% for the forecast period 2023-2030.
Companies Mentioned
- Koninklijke Philips N.V
- GE Healthcare
- Cerner Corporation
- Siemens Healthineers
- Medtronic
- Teladoc Health Inc
- American Well
- MD Live
- Doctor On Demand
- Global Med
The rising penetration of the internet and the evolution & development of smartphones are factors that contributed to the growth of the market.
Advancements in digital infrastructure allow users to monitor their health and fitness, avail medical assistance, and book appointments. For instance, several applications and platforms such as Doctor on Demand, Lemonaid and MDLive, allow their users to book appointments, monitor personal health, track consultations, and store healthcare information. Moreover, the COVID-19 pandemic accelerated the adoption of telemedicine and teleconsultation.
The pandemic exposed the shortcomings in the healthcare systems while also burdening the healthcare resources and facilities which accelerated the adoption of the solutions. The government imposed travel restrictions and lockdowns in order to curb the spread of the virus which led to patients, and healthcare institutions shifting towards teleconsultation and telemedicine.
In addition, insurance companies and healthcare payers are collaborating with the key players in the market in order to provide free consultation services to patients. For instance, AIG and Cigna announced a partnership with Doctor Anywhere in Singapore, under this partnership the companies will provide free consultation services to patients across Thailand, Singapore, and Vietnam.
Moreover, the rising number of public-private partnerships, advancements in digital infrastructure, rise in government initiatives and growing advancements in digital health technologies are factors anticipated to boost the demand for virtual care applications and services. Several key players such as GlobalMed, Siemens Healthineers, and Doctor Anywhere reported a significant rise in revenue and active users during the pandemic.
The services segment held the largest share in 2021 due to the rising preference for telemedicine and teleconsultation in order to reduce healthcare costs and physical visits to hospitals. Moreover, the development of digital infrastructure is expected to boost the growth of the services segment.
The web-based delivery segment dominated the telehealth market due to the higher adoption of web-based solutions by patients and healthcare institutions. By end-use, the healthcare providers segment accounted for the highest share in 2021 due to the increased adoption of teleconsultation and telemedicine platforms by the providers in order to reduce the burden on healthcare resources and facilities.
Telehealth Market Report Highlights
- In 2022, services segment held a 47.2% share due to the increased adoption of telehealth services to manage chronic conditions, and monitor health combined with advancements in digital healthcare infrastructure contributed to segment growth.
- In 2022, web-based delivery segment held the largest share of 45.7%. Factors such as the rising adoption of web-based solutions by healthcare professionals and patients in order to access healthcare services positively impacted the market growth.
- In 2022, provider segment held a 53.0% share in due to increased convenience offered by the telehealth services and improved workflow management.
- In 2022, North America contributed 47.1% share due to the availability of favorable government initiatives and digital infrastructure to provide digital solutions to patients.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Telehealth Market Variables, Trends & Scope
3.1. Penetration and Growth Prospects Mapping
3.2. Telehealth Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.3. Telehealth Industry Analysis – Porter’s
3.3.1. Supplier Power
3.3.2. Buyer Power
3.3.3. Substitution Threat
3.3.4. The threat of New Entrants
3.3.5. Competitive Rivalry
3.4. Telehealth Industry Analysis – PEST
3.4.1. Political & Legal Landscape
3.4.2. Economic Landscape
3.4.3. Social Landscape
3.4.4. Technology Landscape
3.5. Major Deals & Strategic Alliances Analysis
3.6. Impact of COVID-19 Pandemic on Telehealth Market
Chapter 4. Telehealth Market: Product Type Estimates & Trend Analysis
Chapter 5. Telehealth Market: Delivery Mode Estimates & Trend Analysis
Chapter 6. Telehealth Market: End-user Estimates & Trend Analysis
Chapter 7. Telehealth Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Analysis
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization (Key innovators, Market leaders, Emerging Players)
8.3. Company Market Position Analysis
8.4. List of Key Emerging Companies /Technology Disruptors/Innovators
Chapter 9. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/ujlvbb
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