Billion-Dollar Telehealth Market 2023-2027: North America Will Record 34% of Market Growth
Increasing cases of chronic diseases, followed by increasing demand for remote patient monitoring, and improving patient engagement is transforming the Telehealth Market worldwide. It is estimated that the Telehealth Market will witness market growth of USD 170.82 Bn between 2022 and 2027 accelerating at a CAGR of 29.3% however, privacy and data security concerns may impede the market growth.
Technavio's telehealth market research report offers growth projections of all the market segments, along with an in-depth analysis of all the factors that are likely to boost growth. This detailed telehealth market analysis will facilitate clients in planning a business strategy for the growth of their business in the long term.
Snapshot of Telehealth Market Analysis
Telehealth Market Segments and Growth Forecasts
Technavio's research report will provide insights into each segment's current market share and growth projections for the next five years.
- When it comes to market segmentation, it can be classified by product (services and solutions), end-user (healthcare providers, payers, and patients), and geography (North America, Europe, Asia, and the Rest of the World).
- Based on the product segmentation, the telehealth market growth in the services segment will be significant during the forecast period.
- 34% of the market growth will originate from North America during the forecast period. The UK and Germany are the key markets for telehealth in Europe.
- Factors such as the increasing incidences of chronic diseases, the adoption of advanced technologies in telehealth, and the presence of many prominent vendors will facilitate the telehealth market growth in Europe.
- Our report will provide an accurate prediction of the contribution of all the geographic segments to the growth of the telehealth market size.
Telehealth Market: Trends, Drivers, Challenges
- Increasing cases of chronic diseases will be a significant factor in driving the growth of the Telehealth Market.
- Increasing demand for remote patient monitoring is one of the major telehealth market trends that will be instrumental in driving the market growth during the forecast period.
- Privacy and data security concerns are a hurdle that needs to be crossed on the path to success.
Telehealth Market: Market Players Analysis
When it comes to the key market placers in the market landscape companies are implementing strategic alliances and launches, to enhance their market presence Some of the leading telehealth market players are:
- American Well Corp.
- Cisco Systems Inc.
- Doctor On Demand Inc.
- Enghouse Systems Ltd.
- General Electric Co.
- Honeywell International Inc.
- Koninklijke Philips NV
- MDLIVE Inc.
- Medtronic Plc
- Teladoc Health Inc.
Download our best-selling sample report for all the databacked insights. The custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.
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