Telehealth/Telemedicine Market by Component, Application, Hardware, End-user and Delivery - Global Forecast to 2025 - ResearchAndMarkets.com

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The "Telehealth/Telemedicine Market by Component (Software & Services, RPM, Real-Time), Application (Teleradiology, Telestroke, TeleICU), Hardware (Glucose Meters), End-User (Provider, Payer, patient), Delivery (On-Premise, Cloud) Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global telehealth/telemedicine market is expected to grow at a CAGR of 37.7% during the forecast period, to reach USD 191.7 billion by 2025 from an estimated USD 38.7 billion in 2020.

The key factors driving the growth of this market include the need to expand healthcare access, the growing prevalence of chronic diseases and conditions, a shortage of physicians, advancements in telecommunications, government support and raising awareness, and rising technology adoption in the wake of COVID-19. However, regional variations in regulations, fraud, and the use of social media for care providers will restrict market growth during the forecast period.

The software & services segment will grow at the highest rate during the forecast period.

Based on components, the telehealth market is segmented into software & services, and hardware segment. The software & segment accounted for the largest share of the telehealth market in 2019. The large share of this segment is mainly due to the increasing adoption of telehealth and telemedicine across the globe. The hardware segment is projected to register the highest CAGR of 18.6% in the forecast period.

By delivery mode, the cloud-based segment accounted for the largest share of the telehealth market in 2019.

Based on the mode of delivery, the global telehealth market is segmented into cloud-based and on-premise segments. The human pathology segment accounted for the largest share of the telehealth market in 2019. The major factors driving the market for cloud-based delivery mode segments are the on-demand nature of the services, their easy scalability, and the cost-curtailing nature of cloud-based solutions.

The market in the Asia Pacific is projected to witness the highest share during the forecast period (2020-2025).

The Asia Pacific is projected to register the highest growth during the forecast period. This large share can be attributed to factors such as the rising prevalence of chronic conditions, the need to reduce healthcare expenditure, increasing overall and geriatric population.

Market Dynamics

Drivers

  • Rising Population and Need to Expand Healthcare Access

  • Rising Prevalence of Chronic Conditions and Cost-Benefits of Telehealth & Telemedicine

  • Shortage of Physicians

  • Advancements in Telecommunications

  • Government Support and Rising Awareness

  • Technology Adoption in the Wake of COVID-19

Restraints

  • Regulatory Variations Across Regions

  • Fraud in Telemedicine and Telehealth

  • Use of Social Media

Opportunities

  • High Utility in Combating Infectious Diseases and Epidemics

  • Use of Blockchain

  • AI and Analytics

  • Virtual Assistants

Challenges

  • Inability to Ascertain Hygiene and Cleanliness

  • Behavioral Barriers, Healthcare Affordability, and Lack of Awareness

Companies Mentioned

  • AMC Health

  • American Well

  • Asahi Kasei Corporation

  • Cerner Corporation

  • Chiron Health

  • Cisco Systems

  • Doctor on Demand

  • GE Healthcare

  • Globalmed

  • Imediplus

  • Iron Bow Technologies

  • Koninklijke Philips

  • Mdlive

  • Medtronic

  • Medvivo Group

  • Medweb

  • Siemens Healthineers Ag

  • Teladoc Health

  • Telespecialists

  • Vsee

  • Zipnosis

For more information about this report visit https://www.researchandmarkets.com/r/ft0zku

View source version on businesswire.com: https://www.businesswire.com/news/home/20201130005738/en/

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