Telehealth refers to the means of augmenting healthcare experience, medical training, education, monitoring and other such medical activities, with the support of telecommunications technologies. This helps healthcare providers for efficient and rapid interaction with various intermediaries. Telehealth is observed to be among the fastest growing areas of healthcare market. Efficient use of telehealth has been proven to deliver better healthcare outcomes, grow accessibility to remote areas, specialist referral, patient monitoring, distance education and recordkeeping. 

This report studies the global telehealth market in terms of components, services, end-users and geography. Based on the components of telehealth system, this market is classified into services, hardware and software markets. The telehealth services studied in this report are tele-consultation, tele-monitoring, tele-education, tele-training, tele-care, tele-surgery and tele-radiology markets. Market size and forecast for such mentioned segments for the period 2014-2023, along with their respective CAGRs for the period 2016-2023 are provided in this study.

Healthcare providers, patients, payers are considered as the prime end-users of telehealth. Adoption of telehealth in home care has resulted in rapid growth of telehealth market among patients. 

The market size and forecast for the period 2014-2023 along with the CAGRs for the period 2016-2023 for the mentioned segments are also presented in this study.

Qualitative information sets such as market dynamics (drivers, challenges, future prospects) and market inclination insights are provided in this market assessment report. Tools such as fractal map analysis and attractive investment proposition are also included in this study for assessment of market competition. The report concludes with company profiles section that highlights key information about the major market players operating in the global telehealth market.

Component Type Segmentation Investigation

In terms of revenue, the hardware form the largest telehealth segment in 2015. Equipment such as videoconferencing unit, remote monitoring ECG equipment, vital sign monitors and others are in high demand across all regional markets. Products such as imaging units that enable fast and prompt data transfer will experience the highest demand during the forecast period. However, the risk of compromised confidentiality may hold the growth of this market to a minor yet noticeable extent.

Integrated software solutions currently generate significant revenue in telehealth software market. High demand for integrated solutions also indicate long-term engagement on the part of customers, hence indicating stable future to this market. Additionally, services segment is the most promising component of telehealth market. Availability of modern communication solutions at competitive costs and their associated benefits for the remote regions of the world are the fueling factors for the growth of services segment in the global telehealth  market.

Services Segmentation Investigation

Tele-Consultation is observed to be the largest market in 2015. Various studies demonstrate that tele-consultation is highly instrumental in improving healthcare delivery in underserved remote locations that are difficult for access and serve under normal conditions. Major insights imply that tele-consultation in store-and-forward format is highly feasible and offer significant assistance in emergency response and emergency settings. The demand for tele-consultation is observed to be the highest in emerging markets such as China, Malaysia, Brazil and other parts of Asia-Pacific and Latin America.

Healthcare providers, payers, patients and others form the major classification of telehealth market by end-users.     

Providers are the largest segment for telehealth solutions and services. As several healthcare systems worldwide are increasingly focusing their efforts on reducing the number of hospital visits and length of hospital stay, the need for remote monitoring is being felt more intensely. Growing healthcare costs has led to the emergence of efficient adoption telemedicine. Conversely, lack of physician support, lack of awareness in lesser developed regions of the world, and challenges pertaining to legal and reimbursement policies pose a significant restraint to the market growth.

United States is the largest market for telehealth equipment services. High demand for self care and the growth in trend of home-care is a key for growth in US market. Large scale adoption of home-care alternatives is due to factors such as psychological impact regarding safety and comfort, custom care provision, and associated cost benefits.

Overall, requirement of continuous assistive care and monitoring among the rising geriatric population is efficiently addressed by telehealth. Other additional benefits offered are round-the-clock remote monitoring, fewer instances of hospital readmission, and privilege of recovering at own home. These factors ultimately lead to phenomenal cost savings for both patients and care givers, which is already at peak in North America market.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Telehealth market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Telehealth market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Telehealth market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Telehealth market?
• Which is the largest regional market for Telehealth market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Telehealth market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Telehealth market worldwide?