Publication Month: Jun 2018 | Report Code: TIPHE100000832 | No. of Pages: 156 | Category: Healthcare IT | Status: Published
The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
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Delivering healthcare via telehealth solutions could open up home monitoring of aged care patients with chronic diseases, improving health outcomes and significantly saving costs. Chronic diseases such as stroke, heart disease, cancer, depression, diabetes, obesity, and arthritis are the response for billions of medical cost. Telehealth is a powerful tool in reducing the rate of deaths and managing the negative health effects associated with these chronic conditions. Telehealth used information and communication technology (ICT) and mobile wireless devices which have been utilized in various clinical disease to reduce medical cost and improve outcome, especially in cardiovascular disease. With the help of advanced ICT technology, telehealth can improve the management of cardiovascular disease and also improve the access to health care and quality of health care delivery to their patients.
Cardiovascular disease is a leading cause of death in the United States where 1 to 3 deaths estimated every day. Heart failure is responsible for a high hospitalization rate in the region. To prevent cardiovascular diseases, improve care quality and reduce mortality hospitalization rate, Telehealth solutions are used. American Heart Association (AHA) and American Stroke Association support the telehealth strategies for acute stroke whenever physicians are not available on-site.
Additionally, cardiovascular is found to be common in European countries as well. According to the European Heart Network AISBL, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU) each year. These statistics determine an increase in the demand for Telehealth solutions in various regions across the globe.
In terms of product, the global telehealth market is segmented into integrated and standalone platform. In 2017, the integrated segment held larger share of the market. Also, the same segment is estimated to continue its dominance during the forecast period.
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In terms of type, the global telehealth market is segmented into hardware, software and services. In 2017, the software segment held larger share of the market. The same segment is expected to dominate the market during the forecast period.
Based on mode of delivery, the global telehealth market is segmented into on-premise, web-based, and cloud- based. The web-based delivery mode held the largest market share in 2017. However, the cloud- based segment is estimated to grow at the fastest rate during the forecast period.
In terms of end user, the global telehealth market is segmented into healthcare providers, payers, and patients. The healthcare providers segment held the largest share of the market in 2017, and the same segment is estimated to dominate the market during the forecast period.
|Market Size Value in||US$ 17,289.9 Million in 2017|
|Market Size Value by||US$ 52,897.2 Million by 2025|
|Growth rate||CAGR of 15.7% from 2018-2025|
|No. of Pages||156|
|No. of Tables||77|
|No. of Charts & Figures||60|
|Historical data available||Yes|
|Segments covered||Product , Type , Mode of Delivery ; and End User|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global telehealth market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
The List of Companies - Telehealth Market