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We expect the global telehealth market to exhibit a CAGR of 22.2% during 2022-2027.
Sudden outbreak of the COVID-19 pandemic had led to the increasing demand for remote patient monitoring to mitigate the risk of coronavirus infection upon hospital visits, thereby catalyzing the global market for telehealth.
The rising adoption of telehealth systems during diagnostic procedures and treatment of numerous medical ailments that require continual medical supervision is currently driving the global telehealth market.
Based on the component, the market can be categorized into software, hardware, and services. Currently, services hold the majority of the market share.
Based on the communication technology, the market has been segregated into video conferencing, mHealth solutions, and others. mHealth solutions currently represents the largest segment.
Based on the hosting type, the market can be classified into cloud-based and web-based, and on-premises. Currently, cloud-based and web-based exhibits a clear dominance in the total market share.
Based on the application, the market can be divided into teleconsultation and telementoring, medical education and training, teleradiology, telecardiology, tele-ICU, tele-psychiatry, tele-dermatology, and others. Amongst these, teleradiology currently accounts for the majority of the total market share.
Based on the end-user, the market can be categorized into providers, payers, patients, and others. Providers currently hold the majority of the total market share.
On a regional level, the market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global telehealth market include Aerotel Medical Systems, Allscripts Healthcare LLC, AMD Global Telemedicine Inc., American Well Corporation, Biotelemetry Inc., Cerner Corporation, Cisco Systems Inc., GE Healthcare Inc. (General Electric), Honeywell Life Care Solutions, Medtronic Inc., Philips Healthcare, Teladoc Health Inc., etc.
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