Telehealth Market By Component Type (Hardware, Software, and Services), By Mode of Delivery Type (Web-based, Cloud based, On-premise), By End User (Providers, Payers, Patients, and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Description

Market Overview                                                  

The global Telehealth market accounted for USD 7,321.3 Million in 2020 and is expected to reach USD 61,385.1 Million by 2028, growing at a CAGR of 30.5% from 2021 to 2028.   

Telehealth is the communication technologies to access health care services remotely and manage your health care. These technologies can be use from home or any place or the doctor’s uses to improve or support the health care services. It has various benefits such as limiting physical contact reduces everyone’s exposure to COVID-19, visiting virtually can address health issues wherever patients are, even from the comfort of home, staying put cuts down on commuting, travel in bad weather, time off from work, need for child care, and using virtual health care tools can shorten wait times to see a provider and expand the range of access to specialists who live further away.

Key players are focusing upon advancement of product and integrating the equipment with new features. Citing an instance, on August 29th 2018, Partners HealthCare, a U.S. based non-profit network of physicians & hospitals, has joined hands with Teladoc Inc., a key player across telehealth market, for introducing direct-to consumer telehealth service. Reportedly, the new service will provide health plan members a quick access to critical care services through video conferencing.

COVID-19 Impact Analysis:

The pandemic has created opportunities for telehealth solutions, considering that social distancing is the only existing solution developed so far, which is capable of minimizing exposure. Moreover, telehealth represents an attractive, effective, and affordable option. Moreover, this technology is of critical importance in keeping healthcare providers safe.

The demand for telehealth care services has rapidly increased in the pandemic as people actively adopting teleconsultation and remote monitoring services. However, the pandemic has positively impacted on the telehealth market.

Growth Factors

Rising incidences of chronic ailments along with hefty expenditure on healthcare activities are the key factors stimulating the demand for telehealth services. Apart from this, telecommunications sector is witnessing a paradigm shift through the launch of new technologies and this will enable massive expansion of telehealth market over the forthcoming years.

Inadequate compensation benefits, rising technological costs, and lacuna in the interoperability rules, however, are likely to hinder the growth of telehealth market during the forecast timeline. Nevertheless, inception of cutting-edge technologies such as electronic health records is likely to facilitate the growth of telehealth market over the ensuing years, thereby normalizing the impact of hindrances on the market, reports the telehealth market study.

Report Scope:

Component Type Segment Analysis Preview

Based on Component Type, the global Telehealth market is segmented into services, hardware, and software. Among these component type, the demand for hardware is relatively higher and the trend is anticipated to remain so over the next few years.

End User Segment Analysis Preview

On the basis of Mode of Delivery Type, the Telehealth market is segmented into Web-based, Cloud based, and, On-premise. The Telehealth market for Cloud based accounted for the largest share in 2020

End User Segment Analysis Preview

On the basis of End User, the Telehealth market is segmented into Providers, Payers, Patients, and Others. The providers segment is likely to gain a major traction in the market and anticipated to remain dominant throughout the forecast period. Increasing deployment of telemedicine to reduce the work burden on healthcare facilities and government funded project are the major factors for the growth of the market.

Regional Segment Analysis Preview

North America has been leading the worldwide telehealth market and is anticipated to continue on the dominant position in the years to come, states the market study. Rise in elderly population, high incidence of chronic diseases, and bulging healthcare costs are the key factors behind the dominance of the North America telehealth market.

Key Market Players & Competitive Landscape

The major players operating in the Telehealth market are Philips Healthcare, McKesson Corporation, Medtronic plc, Medvivo Group Ltd. and Tunstall Healthcare among others.

The global Telehealth market is segmented as follows:   

By Component Type

• Hardware
• Software
• Services

By Mode of Delivery Type  

• Web-based
• Cloud based
• On-premise

By End User

• Providers
• Payers
• Patients
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

Table Of Content

• Chapter No. 1 Introduction
  • 1.1. Report Description
    • 1.1.1. Purpose of the Report
    • 1.1.2. USP & Key Offerings
  • 1.2. Key Benefits for Stakehulders
  • 1.3. Target Audience
  • 1.4. Report Scope
• Chapter No. 2 Executive Summary
  • 2.1. Key Findings
    • 2.1.1. Top Investment Pockets
      • 2.1.1.1. Market Attractiveness Analysis, By Component Type
      • 2.1.1.2. Market Attractiveness Analysis, By Mode of Delivery Type
      • 2.1.1.3. Market Attractiveness Analysis, By End User
      • 2.1.1.4. Market Attractiveness Analysis, By Region
  • 2.2. Market Snapshot
  • 2.3. Global Telehealth Market, 2016 – 2028 (USD Million)
  • 2.4. Insights from Primary Respondents
• Chapter No. 3 COVID 19 Impact Analysis
  • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
    • 3.1.1. North America
    • 3.1.2. Europe
    • 3.1.3. Asia Pacific
    • 3.1.4. Latin America
    • 3.1.5. The Middle-East and Africa
  • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
  • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
  • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
  • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
    • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
  • 3.6. Short Term Dynamics
  • 3.7. Long Term Dynamics
• Chapter No. 4 Telehealth Market – Component Type Segment Analysis
  • 4.1. Overview
    • 4.1.1. Market Revenue Share, By Component Type, 2020 & 2028
  • 4.2. Hardware
    • 4.2.1. Market End User and Forecast, By Region (USD Million)
    • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 4.3. Software
    • 4.3.1. Market End User and Forecast, By Region (USD Million)
    • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
  • 4.4. Services
    • 4.4.1. Market End User and Forecast, By Region (USD Million)
    • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
• Chapter No. 5 Telehealth Market – Mode of Delivery Type Segment Analysis
  • 5.1. Overview
    • 5.1.1. Market Revenue Share, By Mode of Delivery Type, 2020 & 2028
  • 5.2. Web-based
    • 5.2.1. Market End User and Forecast, By Region (USD Million)
    • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 5.3. Cloud based
    • 5.3.1. Market End User and Forecast, By Region (USD Million)
    • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • 5.4. On-premise
    • 5.4.1. Market End User and Forecast, By Region (USD Million)
    • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
• Chapter No. 6 Telehealth Market – End User Segment Analysis
  • 6.1. Overview
    • 6.1.1. Market Revenue Share, By End User, 2020 & 2028
  • 6.2. Providers
    • 6.2.1. Market End User and Forecast, By Region (USD Million)
    • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 6.3. Payers
    • 6.3.1. Market End User and Forecast, By Region (USD Million)
    • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
  • 6.4. Patients
    • 6.4.1. Market End User and Forecast, By Region (USD Million)
    • 6.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.4.3. Key Market Trends, Growth Factors, & Opportunities
  • 6.5. Others
    • 6.5.1. Market End User and Forecast, By Region (USD Million)
    • 6.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.5.3. Key Market Trends, Growth Factors, & Opportunities
• Chapter No. 7 Telehealth Market – Regional Analysis
  • 7.1. Overview
    • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
    • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
  • 7.2. North America
    • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
    • 7.2.2. North America Market Revenue, By Component Type, 2016 – 2028
    • 7.2.3. North America Market Revenue, By Mode of Delivery Type, 2016 – 2028
    • 7.2.4. North America Market Revenue, By End User, 2016 – 2028
    • 7.2.5. U.S.
      • 7.2.5.1. U.S. Market Revenue, By Component Type, 2016 – 2028
      • 7.2.5.2. U.S. Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.2.5.3. U.S. Market Revenue, By End User, 2016 – 2028
    • 7.2.6. Canada
      • 7.2.6.1. Canada Market Revenue, By Component Type, 2016 – 2028
      • 7.2.6.2. Canada Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.2.6.3. Canada Market Revenue, By End User, 2016 – 2028
    • 7.2.7. Mexico
      • 7.2.7.1. Mexico Market Revenue, By Component Type, 2016 – 2028
      • 7.2.7.2. Mexico Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.2.7.3. Mexico Market Revenue, By End User, 2016 – 2028
  • 7.3. Europe
    • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
    • 7.3.2. Europe Market Revenue, By Component Type, 2016 – 2028
    • 7.3.3. Europe Market Revenue, By Mode of Delivery Type, 2016 – 2028
    • 7.3.4. Europe Market Revenue, By End User, 2016 – 2028
    • 7.3.5. Germany
      • 7.3.5.1. Germany Market Revenue, By Component Type, 2016 – 2028
      • 7.3.5.2. Germany Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.3.5.3. Germany Market Revenue, By End User, 2016 – 2028
    • 7.3.6. France
      • 7.3.6.1. France Market Revenue, By Component Type, 2016 – 2028
      • 7.3.6.2. France Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.3.6.3. France Market Revenue, By End User, 2016 – 2028
    • 7.3.7. U.K.
      • 7.3.7.1. U.K. Market Revenue, By Component Type, 2016 – 2028
      • 7.3.7.2. U.K. Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.3.7.3. U.K. Market Revenue, By End User, 2016 – 2028
    • 7.3.8. Italy
      • 7.3.8.1. Italy Market Revenue, By Component Type, 2016 – 2028
      • 7.3.8.2. Italy Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.3.8.3. Italy Market Revenue, By End User, 2016 – 2028
    • 7.3.9. Spain
      • 7.3.9.1. Spain Market Revenue, By Component Type, 2016 – 2028
      • 7.3.9.2. Spain Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.3.9.3. Spain Market Revenue, By End User, 2016 – 2028
    • 7.3.10. Rest of Europe
      • 7.3.10.1. Rest of Europe Market Revenue, By Component Type, 2016 – 2028
      • 7.3.10.2. Rest of Europe Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.3.10.3. Rest of Europe Market Revenue, By End User, 2016 – 2028
  • 7.4. Asia Pacific
    • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
    • 7.4.2. Asia Pacific Market Revenue, By Component Type, 2016 – 2028
    • 7.4.3. Asia Pacific Market Revenue, By Mode of Delivery Type, 2016 – 2028
    • 7.4.4. Asia Pacific Market Revenue, By End User, 2016 – 2028
    • 7.4.5. China
      • 7.4.5.1. China Market Revenue, By Component Type, 2016 – 2028
      • 7.4.5.2. China Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.4.5.3. China Market Revenue, By End User, 2016 – 2028
    • 7.4.6. Japan
      • 7.4.6.1. Japan Market Revenue, By Component Type, 2016 – 2028
      • 7.4.6.2. Japan Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.4.6.3. Japan Market Revenue, By End User, 2016 – 2028
    • 7.4.7. India
      • 7.4.7.1. India Market Revenue, By Component Type, 2016 – 2028
      • 7.4.7.2. India Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.4.7.3. India Market Revenue, By End User, 2016 – 2028
    • 7.4.8. South Korea
      • 7.4.8.1. South Korea Market Revenue, By Component Type, 2016 – 2028
      • 7.4.8.2. South Korea Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.4.8.3. South Korea Market Revenue, By End User, 2016 – 2028
    • 7.4.9. South-East Asia
      • 7.4.9.1. South-East Asia Market Revenue, By Component Type, 2016 – 2028
      • 7.4.9.2. South-East Asia Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.4.9.3. South-East Asia Market Revenue, By End User, 2016 – 2028
    • 7.4.10. Rest of Asia Pacific
      • 7.4.10.1. Rest of Asia Pacific Market Revenue, By Component Type, 2016 – 2028
      • 7.4.10.2. Rest of Asia Pacific Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.4.10.3. Rest of Asia Pacific Market Revenue, By End User, 2016 – 2028
  • 7.5. Latin America
    • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
    • 7.5.2. Latin America Market Revenue, By Component Type, 2016 – 2028
    • 7.5.3. Latin America Market Revenue, By Mode of Delivery Type, 2016 – 2028
    • 7.5.4. Latin America Market Revenue, By End User, 2016 – 2028
    • 7.5.5. Brazil
      • 7.5.5.1. Brazil Market Revenue, By Component Type, 2016 – 2028
      • 7.5.5.2. Brazil Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.5.5.3. Brazil Market Revenue, By End User, 2016 – 2028
    • 7.5.6. Argentina
      • 7.5.6.1. Argentina Market Revenue, By Component Type, 2016 – 2028
      • 7.5.6.2. Argentina Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.5.6.3. Argentina Market Revenue, By End User, 2016 – 2028
    • 7.5.7. Rest of Latin America
      • 7.5.7.1. Rest of Latin America Market Revenue, By Component Type, 2016 – 2028
      • 7.5.7.2. Rest of Latin America Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.5.7.3. Rest of Latin America Market Revenue, By End User, 2016 – 2028
  • 7.6. The Middle-East and Africa
    • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
    • 7.6.2. The Middle-East and Africa Market Revenue, By Component Type, 2016 – 2028
    • 7.6.3. The Middle-East and Africa Market Revenue, By Mode of Delivery Type, 2016 – 2028
    • 7.6.4. The Middle-East and Africa Market Revenue, By End User, 2016 – 2028
    • 7.6.5. GCC Countries
      • 7.6.5.1. GCC Countries Market Revenue, By Component Type, 2016 – 2028
      • 7.6.5.2. GCC Countries Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.6.5.3. GCC Countries Market Revenue, By End User, 2016 – 2028
    • 7.6.6. South Africa
      • 7.6.6.1. South Africa Market Revenue, By Component Type, 2016 – 2028
      • 7.6.6.2. South Africa Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.6.6.3. South Africa Market Revenue, By End User, 2016 – 2028
    • 7.6.7. Rest of Middle-East Africa
      • 7.6.7.1. Rest of Middle-East Africa Market Revenue, By Component Type, 2016 – 2028
      • 7.6.7.2. Rest of Middle-East Africa Market Revenue, By Mode of Delivery Type, 2016 – 2028
      • 7.6.7.3. Rest of Middle-East Africa Market Revenue, By End User, 2016 – 2028
• Chapter No. 8 Telehealth Market – Industry Analysis
  • 8.1. Introduction
  • 8.2. Market Drivers
    • 8.2.1. Driving Factor 1 Analysis
    • 8.2.2. Driving Factor 2 Analysis
  • 8.3. Market Restraints
    • 8.3.1. Restraining Factor Analysis
  • 8.4. Market Opportunities
    • 8.4.1. Market Opportunity Analysis
  • 8.5. Porter’s Five Forces Analysis
  • 8.6. PEST Analysis
  • 8.7. Regulatory Landscape
  • 8.8. Component Type Landscape
  • 8.9. Regional Market Trends
    • 8.9.1. North America
    • 8.9.2. Europe
    • 8.9.3. Asia Pacific
    • 8.9.4. Latin America
    • 8.9.5. The Middle-East and Africa
  • 8.10. Pricing Analysis
  • 8.11. Value Chain Analysis
  • 8.12. Downstream Buyers
  • 8.13. Distributors/Traders List
• Chapter No. 9 Competitive Landscape
  • 9.1. Company Market Share Analysis – 2019
    • 9.1.1. Global Telehealth Market: Company Market Share, 2019
    • 9.1.2. Global Telehealth Market, Company Market Revenue, 2016 – 2019 (USD Million)
    • 9.1.3. Global Telehealth Market, Company Y-o-Y Growth, 2017 – 2019 (%)
    • 9.1.4. Global Telehealth Market: Radar Determinant Chart, 2019
  • 9.2. Strategic Developments
    • 9.2.1. Acquisitions & Mergers
    • 9.2.2. New Product Launch
    • 9.2.3. Regional Expansion
  • 9.3. Company Strategic Developments – Heat Map Analysis
• Chapter No. 10 Company Profiles
  • 10.1. Philips Healthcare
    • 10.1.1. Company Overview
    • 10.1.2. Key Executives
    • 10.1.3. Product Portfulio
    • 10.1.4. Financial Overview
    • 10.1.5. Operating Business Segments
    • 10.1.6. Business Performance
    • 10.1.7. Recent Developments
  • 10.2. McKesson Corporation
  • 10.3. Medtronic plc.
  • 10.4. Medvivo Group Ltd
  • 10.5. Tunstall Healthcare
• Chapter No. 11 Marketing Strategy Analysis
  • 11.1. Marketing Channel
  • 11.2. Direct Marketing
  • 11.3. Indirect Marketing
  • 11.4. Marketing Channel Development Trends
  • 11.5. Economic/Pulitical Change
• Chapter No. 12 Research Methodulogy
  • 12.1. Research Methodulogy
  • 12.2. Phase I - Secondary Research
  • 12.3. Phase II - Data Modeling
    • 12.3.1. Company Share Analysis Model
    • 12.3.2. Revenue Based Modeling
  • 12.4. Phase III - Primary Research
  • 12.5. Research Limitations
    • 12.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Global Telehealth market. Zion Research has collected and analyzed key data belong to the global Global Telehealth market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Global Telehealth across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Global Telehealth industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

• Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
• Helps in validating and strengthening the secondary research findings
• Further, develops the analysis team’s expertise and market understanding
• Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

• Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
• Purchasing managers, technical personnel, distributors and resellers
• Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

• Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
• IDC and other relevant magazines
• Internal and external proprietary databases, and relevant patent and regulatory databases
• National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Global Telehealth market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

• Demographic data: Population split by segments
• Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
• Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
• Data is then cross-checked by an expert panel.

Free Analysis

Telehealth is becoming vital to healthcare delivery system which enables remote patients’ access to healthcare professionals and connects the healthcare providers with other practitioners over worldwide. Telehealth is the transmission of information from one site to another through electronic information and telecommunication technology to facilitate the diagnosis, consultation, treatment, education, care management and self-management of a patient’s health care of patients residing in remote areas. For example, approximately 20 percent of Americans live in rural areas where many do not have easy access to primary care or specialist services. The availability of telehealth services to these areas provides better access to health care by eliminating the need to travel long distances to see an expert health care professional. One of the most important benefits of telehealth is in the reducing costs due to lowering in hospitalizations, readmissions, and length of stays.

Increasing prevalence of chronic diseases and rising healthcare cost drives the demand for telehealth solutions. In addition, increasing healthcare expenditures, the rapid increase in the software market, improving telecommunication infrastructure supplements the growth of telehealth market within the forecast period. Furthermore, telehealth market is on the rise due to improvements in technology that enables the healthcare professionals to see patients on screen from a distant location. According to the National Business Group on Health (NBGH), 74 percent of large U.S. employers say they plan to offer telehealth services were permitted under the law, an increase from 48% in an earlier survey. This suggests that telehealth usage is going to rise rapidly. However, lack of proper reimbursement policies, the high cost of technology and underdeveloped interoperability standards hampers the adoption of telehealth market within the forecast period. In spite of these restraints, technological advancements to produce more innovative telehealth solutions can be an opportunity in this market.

On the basis of the component, the global telehealth market is categorized into; hardware, software, and services. In this segment, hardware held around more than 45.5% market share in 2016 and is expected to grow at a double-digit CAGR in coming five years. The software is expected to witness a significant growth within the forecast period owing to advancements in telecommunication infrastructure coupled with increasing adoption of remote monitoring solutions by patients in rural locations.

An end-user segment of the telehealth market includes the: providers, payers, patients and other end users.  In this segment, players have accounted for the second largest market share of the global telehealth market in 2016 and are expected to grow at a significant rate of CAGR in coming five years. In this segment, providers include the healthcare professionals such as physicians and clinicians, hospitals, and clinics.

North America has dominated the global telehealth market by accounting for 41.4% of market share in 2016 and is expected to grow at a CAGR of around 29.9% in coming five years. U.S. holds the largest market share in telehealth market in this region owing to the paucity of an adequate number of healthcare professionals, upcoming regulatory policies, and geriatric population. In Canada, 77 percent of primary care physicians are now using electronic medical records, 98 percent of hospitals offering telehealth video conferencing and 88 percent of lab test results are now digital.

North America is expected to follow by the Europe within the forecast period owing to increasing adoption of digital healthcare systems. In this region, U.K. attributed for largest market share owing to the aging population (11.4 million people in the UK are aged over 65) favorable government policies regarding telehealth and high telecare penetration.

Asia-Pacific is expected to show the fastest growth with a CAGR of 35.6% within the forecast period. Telehealth market growth in this region is expected to drive by increasing geriatric population and high internet penetration. In this region, For example, Japan has a large Health IT market size (around $4 billion), a significantly aging population, a high concentration of population clustered in urban areas and a tech-friendly society thus all these factors supplements the telehealth market growth.  

Latin America is expected to show a moderate growth due to increasing awareness among healthcare professionals related to the benefits of telehealth. In this region, Brazil has a high growth rate in the over-60 population over the next 15 years, indicating that a huge potential telehealth market in coming five years. The Middle East and Africa, market growth for telehealth is expected to boost by increasing prevalence of chronic diseases coupled with the scarcity of healthcare professional.

The report presents comprehensive competitive outlook with company profiles of the key players operating in the global market. Key participants profiled in the report include Philips Healthcare, McKesson Corporation, Medtronic plc, Medvivo Group Ltd. and Tunstall Healthcare among others.