Telehealth & Telemedicine Market by Component (Software & Services (RPM, Real-Time), Hardware (Monitors)), Delivery (On-Premise, Cloud-Based), Application (Teleradiology, Telestroke, TeleICU), End User (Provider, Payer) & Region – Global Forecasts to 2027

2022-03-10
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Published : Mar-2022
No. of Pages : 295
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“The telehealth & telemedicine market is projected to grow at a CAGR of 26.6% during the forecast period (2022–2027).”

The global telehealth & telemedicine market is expected to grow at a CAGR of 26.6% during the forecast period, to reach USD 285.7 billion by 2027 from an estimated USD 87.8 billion in 2022.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 the 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 2021. 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 27.8% during the forecast period.

“By delivery mode, the cloud-based segment accounted for the largest share of the telehealth market in 2021.”

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 2021. 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 costs-curtailing nature of cloud-based solutions.

 “The market in Asia Pacific is projected to witness the highest growth during the forecast period.”

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.

Breakdown of Primary Interviews:

  • By Company Type (Supply-side): Tier 1: 29%, Tier 2: 37%, and Tier 3: 34%
  • By Category (Demand-side): Hospitals: 55%,Clinics/Independent Physicians: 35%,and Payers: 10%
  • By Designation: C-level executives: 35%, Director-level: 25%, and Managers: 40%
  • By Region: North America: 35%, Europe: 32%, Asia: 22%, and the RoW: 11%

Koninklijke Philips (Netherlands), and Medtronic (Ireland), GE Healthcare  (US) are the leading players in the global telehealth market. Other notable players in this market include Cerner Corporation (US), Siemens Healthineers (Germany), Cisco Systems (US), Asahi Kasei Corporation (Japan), Teladoc Health (US), American Well (US), AMC Health (US), MDLIVE (US), Doctor on Demand (US), Medvivo (UK), Iron Bow Technologies (US), TeleSpecialists (US), GlobalMed (US), Medweb (US), IMEDIPLUS (Taiwan), VSee (US), Chiron Health (US), Zipnosis (US), ALTEN Calsoft Labs (US), iCliniq (India), Preventice Solutions (US), and Resideo Life Care Solutions (US).

Research Coverage

The report analyzes the telehealth & telemedicine market based on component, mode of delivery, application, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts revenue of the market segments with respect to different geographies.

Key Benefits of Buying the Report

The report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

Filed in: Pharmaceuticals and Healthcare
Publisher : marketsandmarkets
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