Telehealth Market Size to Reach USD 70.19 Billion by 2026 at a CAGR of 17.7% | Valuates Reports

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BANGALORE, India, Aug. 3, 2022 /PRNewswire/ — The Telehealth Market is Segmented By Component (Services, Hardware, and Software), Application (Teleradiology, Tele-consultation, Tele-ICU, Tele-stroke, Tele-psychiatry, Tele-dermatology), End Users (Hospitals and Clinics, Diagnostic Centers, Home Care, and Others), Geography (North America, Europe, APAC, and RoW) – Global Forecast up to 2026. It is published in Valuates Reports under the Medical Facilities & Services Category.

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The Telehealth (Telemedicine) Market is estimated to reach USD 70.19 Billion by 2026, from USD 26.4 Billion in 2020 and registering a CAGR of 17.7% during the forecast period

Major factors driving the growth of the telehealth market are:

Advantages such as cost savings, convenience, and the capacity to deliver care to persons with mobility issues or those living in remote areas without access to a nearby medical facility are expected to drive the growth of the telehealth market growth.

The coronavirus (COVID-19) has made telehealth even more crucial. A heightened interest in the use of technology for providing and receiving healthcare has resulted from worries about transmitting the virus and catching it during in-person medical visits. This factor is expected to further fuel the telehealth market.

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TRENDS INFLUENCING THE GLOBAL TELEHEALTH MARKET:

Active Government Initiatives for Telehealth Solutions is expected to drive the Telehealth  market growth. The distance barrier has been successfully broken down by telehealth, enabling the provision of healthcare in outlying areas. The majority of people live in rural areas without access to high-quality healthcare, particularly in developing nations. As a result, several governments are increasingly putting their attention on developing virtual care platforms to deliver healthcare services in remote areas. The introduction of electronic intensive care units (e-ICUs), which allow for remote patient monitoring via two-way cameras, high-speed internet, and electronic devices, is also supported by the governments of many different countries. As a result, the industry is expanding thanks to strong governmental backing and the adoption of supportive regulations to promote telehealth solutions.

Through the computer, tablet, or phone technologies, telemedicine has facilitated patient monitoring, which has decreased outpatient visits. Doctors can now oversee medication supervision or confirm prescriptions. Additionally, patients who are confined to their homes can access medical care without traveling to a clinic via ambulance. Thus, the cost of health care has been reduced. This factor is expected to drive the telehealth market during the forecast period.

By enabling radiologists to contribute their knowledge without being there with the patient, teleradiology enhances patient care. This is crucial when radiologist specialists are required, such as neuroradiologists, pediatric radiologists, and MRI radiologists, to mention a few. Since many of these highly skilled individuals are frequently only found in sizable, well-established cities and only work during the day, their accessibility to the general public may be constrained outside of the context of teleradiology.

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TELEHEALTH MARKET SHARE

Based on type, Teleradiology is expected to be the most lucrative segment. By enabling radiologists to conduct uninterrupted work from their homes in a secure setting, teleradiology plays an important role in assuring continuity of patient care.

Based on region, North America is expected to be the most lucrative region. In the region of North American nations, which is quite advanced in terms of technology and in terms of advanced medical facilities, the telehealth market is expanding tremendously. There are a number of factors that have contributed to the growth of the telehealth market in this region, including the rise in chronic diseases like cancer, asthma, and other illnesses driving the adoption of home healthcare services to avoid high hospital expenditures.

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Key Companies:

  • Teladoc
  • Doctor on Demand
  • GE Healthcare
  • SnapMD
  • Encounter Telehealth
  • GlobalMed
  • HelloMD
  • MDLIVE Inc
  • InTouch Technologies
  • Dictum Health, Inc., LLC
  • American Well.

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SIMILAR REPORTS:

–  The global teleradiology market accounted for USD 2,709 Million in 2017 and is expected to reach USD 10,621 Million by 2025 with a CAGR of 18.4% from 2018 to 2025.

–  The global smart hospitals market was valued at USD 16,925 Million in 2017 and is expected to reach USD 58,777 Million by 2025 with a CAGR of 17.3% during the forecast period.

–  The global Direct To Consumer Telehealth Services market size is projected to reach USD 442.3 Million by 2027, from USD 292.9 Million in 2020, at a CAGR of 5.6% during 2021-2027.

–  Globally, the eClinical Solutions Market is growing at a CAGR of 12.5% during the forecast period of 2020-2026, with a base value of USD 6.27 Billion in 2020 to USD 12.76 Billion in 2026.

–  The global healthcare information technology (IT) market size was valued at USD 250,577.15 Million in 2020 and is projected to reach USD 880,688.75 Million by 2030, registering a CAGR of 13.3% from 2021 to 2030.

–  The global e-health market was valued at USD 74,476 Million in 2019, and is projected to reach USD 230,640 million by 2027 at a CAGR of 14.5% from 2020 to 2027.

–  Global Healthcare Tele-Consultation Services Market Insights and Forecast to 2028

–  Global Tele-ICU Market Insights and Forecast to 2028

–  Global Tele Dermatology Market Insights and Forecast to 2028

–  Global Pet Telehealth Services Market Size, Status and Forecast 2022-2028

–  Global Next Generation Telehealth Market Insights, Forecast to 2028

–  The global Digital Healthcare market size is projected to reach USD 95430 Million by 2026, from USD 77240 Million in 2020, at a CAGR of 22.4% during 2021-2026.

–  The Global Electronic Health Records (EHR) market size is projected to reach USD 47.25 Billion by 2027, from USD 29.16 Billion in 2020, at a CAGR of 7.14% during 2021-2027.

–  The global Healthcare Business Intelligence (BI) market size is projected to reach USD 15700 Million by 2028, from USD 6633.3 Million in 2021, at a CAGR of 12.9% during 2022-2028.

–  The global Blister Packaging market size is projected to reach USD 23570 Million by 2027, from USD 17490 Million in 2020, at a CAGR of 5.1% during 2021-2027.

–  The global Medical Nutrition market size is projected to reach USD 47320 Million by 2027, from USD 33920 Million in 2020, at a CAGR of 4.4% during 2021-2027.

–  The global Retail Clinics market size is projected to reach USD 9685.4 Million by 2028, from USD 4702.5 Million in 2021, at a CAGR of 10.7% during 2022-2028.

–  The global digital therapeutics market size was valued at USD 2.88 Billion in 2019 and is expected to reach USD 13.80 Billion by 2027 with a CAGR of 20.5% during the forecast period.

–  The global healthcare analytics market size was valued at USD 23.51 Billion in 2020 and is projected to reach USD 96.90 Billion by 2030, growing at a CAGR of 15.3% from 2021 to 2030.

–  The global IoT Healthcare market size is projected to reach USD 222260 Million by 2028, from USD 53340 Million in 2021, at a CAGR of 22.1% during 2022-2028.

–  The global Healthcare Gamification market size is projected to reach USD 6094 Million by 2027, from USD 892.2 Million in 2020, at a CAGR of 31.0% during the forecast period 2021-2027.

–  The global 5G in Healthcare Market size will reach USD 2323.9 Million in 2028, growing at a CAGR of 34.3% over the analysis period.

–  The global Healthcare Education Solutions market size is projected to reach USD 12360 Million by 2028, from USD 8276.1 Million in 2021, at a CAGR of 5.4% during 2022-2028.

–  The global Home Health Care market size is projected to reach USD 124230 Million by 2028, from USD 69120 Million in 2021, at a CAGR of 8.6% during 2022-2028.

–  Global Healthcare e-Commerce Market Insights and Forecast to 2028

–  The global Medical Supplies market size is projected to reach USD 329030 Million by 2028, from USD 202430 Million in 2021, at a CAGR of 7.1% during 2022-2028.

–  The global Disposable Medical Supplies market size is projected to reach USD 314410 Million by 2028, from USD 224050 Million in 2021, at a CAGR of 4.9% during 2022-2028.

–  The global Healthcare Asset Management market size is projected to reach USD 34270 Million by 2028, from USD 12780 Million in 2021, at a CAGR of 15.0% during 2022-2028.

–  The global Healthcare Virtual Assistants market size is projected to reach USD 996.2 Million by 2028, from USD 293.9 Million in 2021, at a CAGR of 18.5% during 2022-2028.

–  The global Augmented and Virtual Reality in Healthcare Market size are projected to reach USD 4367 Million by 2027, from USD 962.6 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 23.6% during 2021-2027.

–  The global Healthcare Analytical Testing Services market is projected to reach USD 5689.8 Million by 2028, from USD 2949.2 Million in 2021, at a CAGR of 9.4% during 2022-2028.

–  The global Healthcare Supply Chain Management market size is projected to reach USD 4225.6 Million by 2027, from USD 2267.5 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period 2021-2027.

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