Telehealth Market Worth 9.35 Billion USD by 2021
PUNE, India, December 1, 2016 /PRNewswire/ --
According to a new market research report "Telehealth Market by Component (Hardware (Blood Glucose Monitors), Software (Integrated), Services (Remote Monitoring, Real-time Interactions)), End User (Providers, Payers, Patients), & Mode of Delivery (Web, Cloud)) - Global Forecast to 2021" published by MarketsandMarkets, the global market is expected to reach USD 9.35 Billion by 2021 from USD 2.78 Billion in 2016, growing at a CAGR of 27.5%.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 130 market data Tables and 41 Figures spread through 208 Pages and in-depth TOC on "Telehealth Market"
Early buyers will receive 10% customization on this report.
This report studies the global Telehealth Market for the forecast period of 2016 to 2021. The market is segmented on the basis of component, mode of delivery, end user, and region. By component, the Telehealth Market is categorized into services, software, and hardware. The services segment is expected to command the largest share of the global Telehealth Market, by component in 2016. This is attributed to factors such as increasing adoption of remote monitoring solutions by patients in remote rural areas, technological advancements in telecommunication, and introduction of ACA and similar legislations in the U.S. The software segment, on the other hand, is an integral part of telehealth solutions and works as an interface between the database and end users. Owing to this, the software segment is expected to witness the highest growth in the forecast period.
Speak to our research experts:
On the basis of end users, the global Telehealth Market is segmented into providers, payers, patients, and other end users (employer groups and government bodies). In 2016, the providers segment is estimated to account for the largest share of the global Telehealth Market, by end user. This can be attributed to the implementation of the Affordable Care Act and Hospital Readmissions Reduction Program in the U.S. (which is aimed at lowering healthcare costs by making use of novel solutions such as telehealth) as well as the high demand for telehealth solutions among healthcare providers owing to various benefits offered by these solutions.
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America is poised to account for the largest share of the Telehealth Market, followed by Europe and Asia-Pacific. However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period.
Factors such as growth in geriatric population in Japan, Japan's ICT fund to support the adoption of HCIT solutions, favorable initiatives for the adoption of tele pathology in China, low doctor-patient ratio and high internet penetration in India, and rapidly growing healthcare industry in India. Furthermore, increasing number of HCIT programs and rising prevalence of chronic diseases in Australia; growing medical tourism in India, Malaysia, Singapore, and Thailand; and increasing funding for telehealth in Australia are additional drivers for the Telehealth Market in the Asia-Pacific region.
Growth in geriatric population, rising prevalence of chronic diseases, dearth of healthcare professionals worldwide, improvements in telecommunication infrastructure, technological advancements, increasing utilization of connected devices for the management of chronic diseases, benefits of telehealth, and need for affordable treatment options due to rising healthcare costs are expected to drive the growth of the market in the coming years.
Philips Healthcare (The Netherlands), Medtronic plc (Ireland), Honeywell Life Care Solutions (U.S.), Tunstall Healthcare (U.K.), Care Innovations (U.S.), Cerner Corporation (U.S.), Cisco Systems, Inc. (U.S.), Medvivo Group Ltd. (U.K.), GlobalMedia Group, LLC (U.S.), Aerotel Medical Systems Ltd. (Israel), AMD Global Telemedicine, Inc. (U.S.), American Well (U.S.), InTouch Health (U.S.), and Vidyo, Inc. (U.S.) are some of the key players in the Telehealth Market worldwide.
Browse Related Reports:
Wireless Health Market by Technology (WPAN, WLAN/Wifi, WiMAX), Component (Hardware, Software, & Services), Application (Patient Specific and Provider/Payer Specific), & by End Users (Providers, & Payers) - Analysis & Global Forecast to 2020
Home Healthcare Market by Product (BP & Heart Rate Monitor, Ovulation Kit, HIV Test, ECG, EKG, Nebulizer, Hearing Aids, Pedometer, Cane, Walker, Wheelchairs), Software, Services (Rehabilitation, Skilled, Hospice), & Telehealth - Global Forecasts to 2020
http://www.marketsandmarkets.com/Market-Reports/home-healthcare-equipment-market-696.html About MarketsandMarkets:
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Subscribe Reports from Healthcare Domain @
Contact: Mr. Rohan MarketsandMarkets 701 Pike Street Suite 2175, Seattle, WA 98101, United States 1-888-600-6441 Email: firstname.lastname@example.org
Visit MarketsandMarkets Blog @ http://mnmblog.org/market-research/healthcare/healthcareit
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets