The global telehealth market size is expected to reach USD 787.4 billion by 2028, registering a CAGR of 36.5% over the forecast period, according to a new report by Grand View Research, Inc. The development and evolution of smartphones and the strengthening of internet connectivity have made telehealth and telemedicine more affordable and accessible, and thereby contributed to its growing adoption rate. Advancements in digital infrastructure are allowing users to seamlessly monitor their health & fitness, book appointments, and avail themselves of medical assistance conveniently. For instance, several platforms and applications, such as Doctor on Demand, MDLive, and Lemonaid, are available for booking appointments, monitoring personal health, honoring medical prescriptions, tracking consultations, and storing healthcare information.
Due to the COVID-19 pandemic, providers and patients are readily adopting teleconsultation and telemedicine services. The ongoing pandemic exposed the shortcomings of the existing healthcare systems and burdened global healthcare facilities & resources, thereby driving the demand for telehealth solutions. The government-imposed travel restrictions and lockdowns to curb the transmission rate led to patients shifting from physical visits to teleconsultation & telemedicine. For instance, as a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, telehealth services received USD 200 million funding to provide connected & continuum healthcare services to patients in remote locations. Healthcare providers and patients are portraying readiness in adopting digital health and virtual care solutions.
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https://www.grandviewresearch.com/industry-analysis/telehealth-market-report/request/rs1
Further key findings from the report suggest:
· The market is anticipated to have significant growth due to the advancements in digital infrastructure across the globe and growing awareness among healthcare providers, payers, and patients
· Services dominated the product type segment in 2021 owing to the growing disease burden and constant technological advancements in the virtual care solutions space
· The web-based delivery mode segment led the market in 2021 due to the availability of a large number of web-based telehealth solutions that can be easily accessed from remote locations
· The providers end-use segment accounted for the dominant share of the global revenue in 2021
· The high share was due to the increased convenience offered by telehealth applications in real-time monitoring and seamless access to patient health records
· North America led the market in 2021 due to the advancements in digital infrastructure, increased number of smartphone users, excellent internet connectivity, high prevalence of chronic disease, and the presence of several key players in the region
List of Key Players of Telehealth Market
· Koninklijke Philips N.V.
· Siemens Healthineers
· Cerner Corp.
· GE Healthcare
· Medtronic PLC
· Teladoc Health, Inc.
· American Well
· Doctor on Demand
· GlobalMed
· MDLive
Access Official Press Release Of This Report:
https://www.grandviewresearch.com/press-release/global-telehealth-market
