Global Telehealth Market Driven by Increase in Aging Population

2014-12-19
Published : Dec-2014

With greater penetration and adoption of telecommunication technologies in different regions of the world, the global telehealth market is growing at a rapid pace. The use of electronics and telecommunications technologies as a medium of communication between doctors and patients is known as telehealth. In 2013, the global telehealth market was valued at 16.3 billion USD. The global telehealth market is expected to grow at a compound annual growth rate of 18.88 percent during the period from 2014 to 2019. As hospitals and clinics are trying to provide better healthcare facilities and are increasingly employing remote communications and monitoring technology to reduce costs, the global market for telehealth is expected to increase in the coming years. One of the key market trends in the global telehealth market is the introduction of new products and services by key players.

With rising demand for remote patient monitoring, the global telehealth market is going to witness steady growth in the future. Key players in the global telehealth market are GE Healthcare, McKesson Corporation, Siemens Healthcare, Philips Healthcare Informatics, Bosch Healthcare, Honeywell HomMed, AMD Telemedicine, Aerotel Medical Systems, Polycom, Cardio Net, and Agfa-Gevaert. Telehealth helps to improve the quality of healthcare and reduce cost. High prevalence of chronic diseases and rise in elderly population are some of the factors which are fueling the growth of the global telehealth market. With reduction in healthcare cost and greater awareness about telehealth, the global market for telehealth is expected to grow steadily in the future. However, lack of common standards is one of the primary challenges to the growth of the market.

The global telehealth market can be segmented on the basis of end-users and applications. The applications which are used in the telehealth market are wireless tools, video conferencing, smartphones and email. The dominant countries in the market are Japan, the US, and the UK. In recent years, there has been an increase in the number of people suffering from lifestyle diseases such as diabetes, cardiovascular diseases, hypertension, and obesity. To manage such lifestyle diseases, telehealth is an attractive and viable option. The launch of mobile health hubs and increase in aging population is also propelling the growth in the global telehealth market. With awareness about the cost-effectiveness and convenience of telehealth, the market for telehealth is expected to flourish in the coming years.

Explore the latest market research report on global telehealth market @ www.sandlerresearch.org/global-telehealth-market-2015-2019.html

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