Pune, India -- (SBWire) -- 04/04/2019 --The latest report on Telehealth Market by Infinium Global Research gives complete coverage of the telehealth Market by component (software, services, hardware), by mode of delivery (cloud-based delivery mode, on-premise delivery mode, web-based delivery mode), by end user (payers, providers, patients) Global Industry Analysis, Trends, Market Size, Forecasts up to 2023 in terms of key trends, market size, forecast and CAGR growth over the period of 2017 to 2023. In addition, the study covers deep dive into key product and applications trends in the regional markets of telehealth such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global telehealth market is expected to grow at a CAGR of 26.5% over the forecast period of 2017 - 2023.
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Telehealth Market: Industry Insights
Telehealth is a collection of several telecommunications technologies for enhancing health care, public health, and health education services. Telehealth uses computers and mobile devices to access health care services remotely and manage health care facilities. Telehealth is being widely used in the healthcare industry and these services help in offering diagnosis, communication, treatment and patient monitoring in this sector.
Telehealth Market: Drivers and Restraints
The increasing adoption of ICT in traditional methods of patient care is driving the growth of the telehealth market. Telemedicine offers convenience, flexibility and real-time care with the physicians. It also allows long distance patient to physician contact, monitoring, and remote admissions. In addition, the growing implementation of self-tracking technologies, cloud-based technologies, and innovative data analytic approaches in healthcare organizations accelerate the growth of the telehealth market. However, the high cost of the devices and technologies hinders its market growth. Moreover, the implementation of telehealth in rural and distant locations can improve the healthcare facilities in underdeveloped regions as well as create favorable growth opportunities for the telehealth market.
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Telehealth Market: Segmentation
The report on the global telehealth market is segmented into the component, mode of delivery and end user. The component segments include software, services, and hardware. Based on the end user, the global telehealth market is bifurcated into payers, providers & patients. Based on the mode of delivery, the global telehealth market is categorized into the cloud-based delivery mode, on-premise delivery mode, and web-based delivery mode. The cloud-based delivery mode is anticipated to hold a significant share in the telehealth market as cloud technologies are widely adopted owing to its high accessibility to information that improves patient care.
Telehealth Market: Regional Insights
North America dominates the telehealth market. The U.S. contributes heavily to the growth of the telehealth market. The growth in this region is mainly attributed to the growing elderly population and the high spending capacity of the population. In addition, countries in this region extensively use smartphones and have easy availability of mobile health apps. Furthermore, healthcare centers in the North America region are using advanced technologies to enhance remote patient monitoring and telemedicine services. Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period owing to the reformations in the healthcare sector in Asian countries such as China, Japan and India and the growing demand for improved healthcare facilities are driving the growth of the telehealth market in this region.
Telehealth Market: Competitive Analysis
The global telehealth market is a fragmented market. The major companies in the global telehealth market include Vidyo, Inc., Philips Healthcare, Honeywell Life Care Solutions, Medtronic PLC, Care Innovations (A Subsidiary of Intel Corporation), Tunstall Healthcare, Aerotel Medical Systems Ltd., Globalmedia Group, LLC, Intouch Health, and AMD Global Telemedicine, Inc. The key players are focusing on Acquisitions & Mergers. In April 2018, American Well, one of the largest telehealth companies in the U.S., acquired Aziza, to remain competitive and to gain greater market share.
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