Telehealth Market to Witness Widespread Expansion by 2025
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Services Dominates the Global Telehealth Market
The report offers detailed segmentation of the global telehealth market based on component, application, and end-user. In terms of component, the services segment is poised to account for leading share of the global telehealth market during the forecast period from 2017 to 2025. Increase in adoption of remote monitoring solutions by patients in remote rural areas are the factors likely to drive the services segment during the forecast period. The software segment is anticipated to expand at a comparatively higher growth rate than the hardware segment in terms of revenue during the forecast period owing to continuous innovations in software by major players.
Radiology to be Major Application of Telehealth
The radiology segment is projected to account for high share of the global telehealth market during the forecast period. The segment is likely to expand at a CAGR of 13.0% from 2017 to 2025. Telehealth technology and services enable knowledge and resource sharing between rural and urban areas in minimum time duration. Moreover, consistent evolution in information and communication technologies, effective image transfer, consultation and reporting, and scarcity of radiologists across the globe are the factors expected to drive the segment from 2017 to 2025. Cardiology is another key application of telehealth and is anticipated to account for 19.0% market share by 2025. Increase in prevalence of cardiovascular diseases such as heart diseases and stroke are the factors likely to drive the segment during the forecast period. According to the
Providers is a Promising End-user of Telehealth
In terms of end-user, the global telehealth market has been segmented into payers, providers, patients, and others. The providers segment accounted for major share of 50.0% in terms of revenue in 2016 owing to increase in adoption of telehealth products in health care settings and rise in partnerships between companies and hospitals for telehealth systems. The payers segment is anticipated to expand at a higher CAGR during the forecast period due to increase in adoption of telehealth and connected medical devices by insurance companies for insurance claim management.
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North America Projected to Dominate the Global Market during the Forecast Period
Geographically, the global telehealth market has been segmented into five major regions:
Key Players such as
The global telehealth market is highly fragmented in terms of number of players providing hardware, software, and services. The key players contributing to the growth of the global telehealth market include
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