Global Telehealth Market - Analysis, Size, Share, Growth, Trends, and Forecast To 2022 – by Credence Research
According to the latest report published by Credence
Research, Inc. “Telehealth
Market Growth, Future Prospects and Competitive
Analysis, 2016 - 2022,” the telehealth market was valued at USD
2,193.1 Mn in 2015, and is expected to reach USD 10,467.0 Mn by 2022, expanding
at a CAGR of 24.7% from 2016 to 2022.
Browse the full report
Telehealth: Market Growth, Future Prospects and Competitive Analysis, 2016-2022
at
Market Insights
Phenomenal rise in the aging and
chronically ill population, shortage of specialized medical practitioners in
North America and some other parts of the world, growing need for remote
patient monitoring and rapid technological evolution in the field of
telecommunications are some of the factors that have led to introduction of
telehealth. Growth in healthcare expenditure, rising trend of home and remote
patient care, and increasing awareness about technology assisted healthcare and
wellness further act on advantage of telehealth. Conversely, arrested
reimbursement, threat of patient record breach, and cost constraints are some
of the factors that hold back the market growth.
Growth in number of virtual medical
facilities, advent of remote patient monitoring ad clinical enterprises are
some of the major trends being witnessed in the global telehealth market.
Dearth of basic physicians in rural areas, and skilled practitioners certain
developed markets serve as potential opportunities for the telehealth market
players.
North America and Europe are the
largest regional markets for telehealth applications and services. Widespread
acceptance of remote healthcare is the major influencing factor for the growth.
Government initiatives in these regions to augment the adoption of healthcare
IT and the growing need for providing healthcare at competitive costs are
expected to support the growth of telehealth in these regions. Markets of
emerging countries such as China, Russia, Brazil and China will undergo the
growth during the forecast period. Staggering patient population, high
incidence of chronic diseases and increasing healthcare expenditure are the
major contributors to the market growth in Asia-Pacific and Latin America
markets. Additionally, growth in awareness about telemedicine and access to
specialty physicians through telehealth (in remote areas) are further expected
to fuel the market growth in these regions.
Some of the prime companies operating
in the telehealth market include AMD Telemedicine, Philips Healthcare, GE
Healthcare, McKesson Corporation, and others. He high growth potential in
counties in Asia-Pacific and Latin America has led to growing focus of major
market players in expanding their reach in these regions.
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