Telehealth Market Worth $71.44 Billion, Globally, by 2027 at 16.4% CAGR: Verified Market Research

The prevalence of chronic diseases and the cost-benefits of telehealth is the primary factor driving market growth

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Jul 16, 2020, 09:14 ET

Jersey City, New Jersey, July 16, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Telehealth Market by Component (Software & Services, Hardware), by Application (Teleradiology, Tele-consultation, Tele-ICU, Tele-stroke, Tele-psychiatry), by End-User (Providers, Patients, Payers), Geography". According to Verified Market Research, the Global Telehealth Market was valued at USD 21.17 Billion in 2019 and is projected to reach USD 71.44 Billion by 2027, growing at a CAGR of 16.4% from 2020 to 2027.

Telehealth Market Analysis & Forecast, 2020-2027

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

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Browse in-depth TOC on "Telehealth Market"

202 - Pages
126 – Tables
37 – Figures

Global Telehealth Market Overview

The prevalence of chronic diseases and the cost-benefits of telehealth is the primary factor driving market growth. It has been calculated that, in 2001, chronic diseases contributed approximately 60% of the 56.5 million total reported deaths in the world. There has reduced cost savings in telehealth since telehealth has reduced the count of bed day of care by 25% and the number of hospital admissions by 19%. It means there is an increase in quality care and patient satisfaction. The rise in population and the increased demand to extend healthcare access is expected to cause a surge in market growth. Telehealth can bring a change in the archetype of care. The advent of technological developments is anticipated to drive the market growth. During the COVID-19 pandemic, Kyocera had developed wearables for remote rehabilitation monitoring for the patients while closely monitoring the vital signs. The awareness of telehealth among the consumers and the role of government to provide ubiquitous access to telemedicine among the remote areas is expected to improve the market economy. India's digital health policy supports the use of digital apparatus for improving the system compliance of the healthcare system and lays a significant focus on the use of telemedicine services, especially in the Health and Wellness Centers. The major players in the market are KONINKLIJKE PHILIPS, MEDTRONIC, GE HEALTHCARE, CERNER CORPORATION, SIEMENS HEALTHINEERS AG, CISCO SYSTEMS, ASAHI KASEI CORPORATION, IRON BOW TECHNOLOGIES, AMERICAN WELL, and TELADOC HEALTH.

Verified Market Research has segmented the Telehealth Market on the basis of Component, Application, End-User and Geography.

Telehealth Market by Component

Software and Services
Hardware

Telehealth Market by Application

Teleradiology
Teleconsultation
Tele-ICU
Telestroke
Telepsychiatry
Teledermatology

Telehealth Market by End-User

Providers
Payers
Patients
Others

Telehealth Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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