Global Telehealth Market by Component (Software & Services, RPM, Real-Time), Application (Teleradiology, TeleICU), End-User (Provider, Payer, Patient), Delivery (On-Premise, Cloud) Global Forecast to 2027
The global telehealth market is expected to grow at a CAGR of ~13.8% from 2020 to reach ~ $60.3 billion by 2027. The growth of telehealth market is primarily attributed to growing population along with rise in geriatric population, increasing prevalence of chronic diseases, scarcity of physicians, technological advancements and increased awareness towards these services and products. However, lack of regulations, data privacy issue and high-cost investment may affect the market growth negatively in the forecast period.
By Component: Software and services accounted largest market share in 2020
Telehealth is segregated into software & services and hardware based on component. Software & services registered largest market share in 2020 and are expected to show similar trend in forecast period. The growth observed is mainly ascribed by the increased adoption of telehealth service applications due to increasing preference of patient towards telehealth services.
By mode of delivery: Cloud-based to hold largest market share
On the basis of mode of delivery, cloud-based delivery mode is expected to hold largest share of the telehealth market in the forecast period. Factors accountable for the growth of this segment are data security and decrease in upfront investment offered by cloud-based delivery.
Teleradiology: Expected to dominate the market share
By application, teleradiology segment is expected to dominate the telehealth market in the forecast period. The growth can be attributed to scarcity of radiologists, advancements in S&F technologies, and advantages offered by teleradiology.
By end user: Provider’s segment to hold the largest market share
The provider’s segment is expected to hold largest market share of telehealth market on the basis of end user category. Growing geriatric population along with rise in chronic disease, adaption of telehealth services due to COVID 19 and introduction of advanced services for patient’s reliability are the factors responsible for the growth of this segment.
Asia Pacific: Fastest Growing Regional Market
North America region accounted for largest market share in 2019. The large share of North America in Telehealth market can be attributed to rising prevalence of chronic illnesses and increasing geriatric population. Asia Pacific region is expected to grow at the fastest rate in the forecast period. The growth is mainly ascribed by increasing number of chronic diseases along with rising geriatric population, long waiting time in the hospitals, and rising awareness about teleconsultation. In addition, increasing number of telehealth start-ups in this region is further expected to drive the growth of this market.
Competitive Scenario:
The major players operating in the global telehealth market are
Koninklijke Philips N.V. (Netherlands)
Medtronic (Ireland)
GE Healthcare (US)
Cerner Corporation (US)
Siemens Healthineers (Germany)
Cisco Systems Inc. (US)
Teladoc Health Inc. (US)
American Well (US)
AMC Health (US)
MDLive (US)
Doctor on Demand (US)
Medvivo Group Ltd (UK)
Asahi Kasie Corporation (Japan)
Iron Bow Technologies (US)
Telespecialists Llc (US)
GlobalMed (US)
MedWeb (US)
IMediplus Inc. (China)
Vsee (US)
Chiron Health (US)
Zipnosis (US)
By Component: Software and services accounted largest market share in 2020
Telehealth is segregated into software & services and hardware based on component. Software & services registered largest market share in 2020 and are expected to show similar trend in forecast period. The growth observed is mainly ascribed by the increased adoption of telehealth service applications due to increasing preference of patient towards telehealth services.
By mode of delivery: Cloud-based to hold largest market share
On the basis of mode of delivery, cloud-based delivery mode is expected to hold largest share of the telehealth market in the forecast period. Factors accountable for the growth of this segment are data security and decrease in upfront investment offered by cloud-based delivery.
Teleradiology: Expected to dominate the market share
By application, teleradiology segment is expected to dominate the telehealth market in the forecast period. The growth can be attributed to scarcity of radiologists, advancements in S&F technologies, and advantages offered by teleradiology.
By end user: Provider’s segment to hold the largest market share
The provider’s segment is expected to hold largest market share of telehealth market on the basis of end user category. Growing geriatric population along with rise in chronic disease, adaption of telehealth services due to COVID 19 and introduction of advanced services for patient’s reliability are the factors responsible for the growth of this segment.
Asia Pacific: Fastest Growing Regional Market
North America region accounted for largest market share in 2019. The large share of North America in Telehealth market can be attributed to rising prevalence of chronic illnesses and increasing geriatric population. Asia Pacific region is expected to grow at the fastest rate in the forecast period. The growth is mainly ascribed by increasing number of chronic diseases along with rising geriatric population, long waiting time in the hospitals, and rising awareness about teleconsultation. In addition, increasing number of telehealth start-ups in this region is further expected to drive the growth of this market.
Competitive Scenario:
The major players operating in the global telehealth market are
Koninklijke Philips N.V. (Netherlands)
Medtronic (Ireland)
GE Healthcare (US)
Cerner Corporation (US)
Siemens Healthineers (Germany)
Cisco Systems Inc. (US)
Teladoc Health Inc. (US)
American Well (US)
AMC Health (US)
MDLive (US)
Doctor on Demand (US)
Medvivo Group Ltd (UK)
Asahi Kasie Corporation (Japan)
Iron Bow Technologies (US)
Telespecialists Llc (US)
GlobalMed (US)
MedWeb (US)
IMediplus Inc. (China)
Vsee (US)
Chiron Health (US)
Zipnosis (US)
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. COVID-19 Impact of the Telehealth Market
5. INDUSTRY INSIGHTS
5.1. Introduction
5.2. Industry Trends
6. GLOBAL TELEHEALTH MARKET, BY COMPONENT, 2019-2027 (USD MILLION)
6.1. Introduction
6.2. Software & services
6.3. Hardware
7. GLOBAL TELEHEALTH MARKET, BY APPLICATION, 2019-2027 (USD MILLION)
7.1. Teleradiology
7.2. Tele-consultation
7.3. Tele-ICU
7.4. Tele-stroke
7.5. Tele-psychiatry
7.6. Tele-dermatology
7.7. Other applications
8. GLOBAL TELEHEALTH MARKET, BY END USER, 2019-2027 (USD MILLION)
8.1. Providers
8.2. Payers
8.3. Patients
8.4. Others
9. GLOBAL TELEHEALTH MARKET, BY MODE OF DELIVERY, 2019-2027 (USD MILLION)
9.1. Cloud based
9.2. On-Premise
10. GLOBAL TELEHEALTH MARKET, BY GEOGRAPHY, 2019-2027 (USD MILLION)
10.1. North America
10.1.1. US
10.1.2. Canada
10.2. Europe
10.2.1. Germany
10.2.2. UK
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia-Pacific
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Latin America
10.4.2. Middle East & Africa
11. COMPETITIVE LANDSCAPE
11.1. Introduction
11.2. Market Share Analysis, By Key Players (2020)
11.3. Competitive Situation and Trends
11.3.1. Product Launches
11.3.2. Partnerships, Collaborations and Agreements
11.3.3. Acquisitions
11.3.4. Expansions
11.3.5. Other Developments
12. COMPANY PROFILES
12.1. Koninklijke Philips N.V. (Netherlands)
12.2. Medtronic (Ireland)
12.3. GE Healthcare (US)
12.4. Corporation (US)
12.5. Siemens Healthineers (Germany)
12.6. Cisco Systems, Inc. (US)
12.7. Teladoc Health Inc. (US)
12.8. American Well (US)
12.9. AMC Health (US)
12.10. MDLive (US)
12.11. Doctor on Demand (US)
12.12. Medvivo Group Ltd (UK)
12.13. Asahi Kasie Corporation (Japan)
12.14. Iron Bow Technologies (US)
12.15. Telespecialists Llc (US)
12.16. GlobalMed (US)
12.17. MedWeb (US)
12.18. IMediplus Inc. (China)
12.19. Vsee (US)
12.20. Chiron Health (US)
12.21. Zipnosis (US)
13. APPENDIX
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. COVID-19 Impact of the Telehealth Market
5. INDUSTRY INSIGHTS
5.1. Introduction
5.2. Industry Trends
6. GLOBAL TELEHEALTH MARKET, BY COMPONENT, 2019-2027 (USD MILLION)
6.1. Introduction
6.2. Software & services
6.3. Hardware
7. GLOBAL TELEHEALTH MARKET, BY APPLICATION, 2019-2027 (USD MILLION)
7.1. Teleradiology
7.2. Tele-consultation
7.3. Tele-ICU
7.4. Tele-stroke
7.5. Tele-psychiatry
7.6. Tele-dermatology
7.7. Other applications
8. GLOBAL TELEHEALTH MARKET, BY END USER, 2019-2027 (USD MILLION)
8.1. Providers
8.2. Payers
8.3. Patients
8.4. Others
9. GLOBAL TELEHEALTH MARKET, BY MODE OF DELIVERY, 2019-2027 (USD MILLION)
9.1. Cloud based
9.2. On-Premise
10. GLOBAL TELEHEALTH MARKET, BY GEOGRAPHY, 2019-2027 (USD MILLION)
10.1. North America
10.1.1. US
10.1.2. Canada
10.2. Europe
10.2.1. Germany
10.2.2. UK
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia-Pacific
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Latin America
10.4.2. Middle East & Africa
11. COMPETITIVE LANDSCAPE
11.1. Introduction
11.2. Market Share Analysis, By Key Players (2020)
11.3. Competitive Situation and Trends
11.3.1. Product Launches
11.3.2. Partnerships, Collaborations and Agreements
11.3.3. Acquisitions
11.3.4. Expansions
11.3.5. Other Developments
12. COMPANY PROFILES
12.1. Koninklijke Philips N.V. (Netherlands)
12.2. Medtronic (Ireland)
12.3. GE Healthcare (US)
12.4. Corporation (US)
12.5. Siemens Healthineers (Germany)
12.6. Cisco Systems, Inc. (US)
12.7. Teladoc Health Inc. (US)
12.8. American Well (US)
12.9. AMC Health (US)
12.10. MDLive (US)
12.11. Doctor on Demand (US)
12.12. Medvivo Group Ltd (UK)
12.13. Asahi Kasie Corporation (Japan)
12.14. Iron Bow Technologies (US)
12.15. Telespecialists Llc (US)
12.16. GlobalMed (US)
12.17. MedWeb (US)
12.18. IMediplus Inc. (China)
12.19. Vsee (US)
12.20. Chiron Health (US)
12.21. Zipnosis (US)
13. APPENDIX
