The global Telehealth Market size is expected to reach USD 455.26 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 24.0% over the forecast period. The rising penetration of the internet and the evolution & development of smartphones are factors that contribute to the growth of the industry. Advancements in digital infrastructure allow users to monitor their health and fitness, avail of medical assistance, and book appointments. For instance, several applications and platforms, such as Doctor on Demand, Lemonaid, and MDLive, allow their users to book appointments, monitor personal health, track consultations, and store healthcare information.
Moreover,
the COVID-19 pandemic accelerated the adoption of telemedicine and
teleconsultation. The pandemic exposed the shortcomings in the healthcare
systems while also burdening the healthcare resources and facilities, which
accelerated the adoption of the solutions. The government-imposed travel
restrictions and lockdowns to curb the spread of the virus, which led to
patients and healthcare institutions shifting toward teleconsultations and
telemedicine. In addition, insurance companies and healthcare payers are collaborating
with key industry players to provide free consultation services to patients.
For instance, AIG and Cigna announced a partnership with Doctor Anywhere in
Singapore.
Under
this partnership, the companies will provide free consultation services to
patients across Thailand, Singapore, and Vietnam. Moreover, the rising number
of public-private partnerships, advancements in digital infrastructure, rise in
government initiatives, and growing advancements in digital health technologies
are anticipated to boost the demand for virtual care applications and services.
Several key players, such as GlobalMed, Siemens Healthineers, and Doctor
Anywhere, reported a significant rise in revenues and active users during the
pandemic. The services segment held the largest share of the global revenue in
2022 due to the rising preference for telemedicine and teleconsultation to
reduce healthcare costs and physical visits to hospitals.
Moreover,
the development of digital infrastructure is expected to boost the growth of
the services segment. The web-based delivery mode segment dominated the global
industry in 2022 on account of the higher adoption of web-based solutions by
patients and healthcare institutions. The healthcare providers end-use segment
accounted for the highest share of the overall revenue in 2022. The high share
of this segment can be attributed to the increased adoption of teleconsultation
and telemedicine platforms by providers to reduce the burden on healthcare
resources and facilities.
Related
Press Release@ Telehealth Market Report
Telehealth Market Report Highlights
- In 2022, the
services segment held the largest revenue share due to the advancements in
digital healthcare infrastructure along with the increased adoption of
telehealth services to manage chronic conditions & monitor health
- In 2022, the
web-based delivery mode segment held the largest revenue share due to the
high adoption of web-based solutions by healthcare professionals and
patients
- In 2022, the
providers segment held the maximum revenue share due to increased convenience
offered by the telehealth services and improved workflow management
- In 2022, the
radiology segment led the industry. However, the psychiatry segment is
anticipated to grow at the fastest CAGR over the forecast period owing to
increased cases of anxiety, stress, and mental illnesses
- In 2022,
North America was the leading region due to the availability of favorable
government initiatives and digital infrastructure to provide digital
solutions to patients
Related Reports
Telehealth Services Market
Telehealth Market Segmentation
Grand
View Research, Inc. has segmented the global telehealth market on the basis of
product type, delivery mode, end-use, disease area, and region:
Telehealth Product Type Outlook (Revenue, USD Million, 2016
- 2030)
- Hardware
- Monitors
- Medical
Peripheral Devices
- Blood
Pressure Meters
- Blood
Glucose Meters
- Weighing
Scales
- Pulse
Oximeters
- Peak Flow
Meters
- ECG
Monitors
- Others
- Software
- Standalone
Software
- Integrated
Software
- Services
- Remote
Patient Monitoring
- Real-Time
Interactions
- Store and
Forward
- Others
Telehealth Delivery Mode Outlook (Revenue, USD Million,
2016 - 2030)
- On-premise
- Web-based
- Cloud-based
Telehealth End-use Outlook (Revenue, USD Million, 2016 -
2030)
- Payers
- Providers
- Patients
Telehealth Disease Area Outlook (Revenue, USD
Million, 2016 - 2030)
- Psychiatry
- Substance Use
- Radiology
- Endocrinology
- Dermatology
- Gastroenterology
- Neurological
Medicine
- ENT
- Cardiology
- Oncology
- Dental
- Gynecology
- General
Medicine
- Others
Telehealth Regional Outlook (Revenue, USD Million, 2016 -
2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Russia
- Belgium
- The
Netherlands
- Luxembourg
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Latin
America
- Brazil
- Mexico
- Chile
- Argentina
- MEA
- South
Africa
- Saudi
Arabia
- UAE
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-95196
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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