Sarasota, FL, Feb. 20, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Telehealth Market by Component Type (Hardware, Software, and Services), by Mode of Delivery Type (Web-Based, Cloud-Based and On-Premise) for Providers, Payers, Patients and Other End Users: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”. According to the report, the global telehealth market accounted for USD 2,513.3 million in 2016 and is expected to reach USD 12,131.0 million by 2022, growing at a CAGR of around 30.1% between 2017 and 2022.
As population ages, the burden of non-communicable diseases will increase. Especially chronic diseases (cardiovascular and metabolic disorders, cancer, diabetes, Alzheimer's disease and other mental health problems) normally require prolonged treatment. An increased focus on telehealth will decrease the dependency on hospitals and enables the patients to access proper healthcare from home and leaving sufficient beds in hospitals for more urgent patients. Telehealth acts as a bridge to improve the relationship between patient and healthcare provider and for improving patient satisfaction and behavioral changes by providing healthcare guidance and treatment into daily life. Using telehealth, patients can be seen remotely by healthcare professionals in their homes; workplace and physicians can treat patients located at a distant location from a hospital, medical facility or other places of work including their own homes or even during vacation as long as they have access to the internet.
Browse through 45 Market Tables and 60 Figures spread through 110 Pages and in-depth TOC on “Global Telehealth Market: Type, Size, Share, Leaders, Growth, Analysis, Segment and Forecast 2016 – 2022”.
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The market for telehealth is expected to be driven by significant trends in healthcare, technology advancement, expanded patient base, consumerism within the forecast period. In addition, the introduction of new and cutting-edge technology and services, such as electronic health records also supplements the growth of telehealth market in coming five years. Furthermore, increasing prevalence of chronic diseases coupled with increasing healthcare expenditures also expected to boost the telehealth market. For instance, approximately 100 million Americans with chronic disease accounted for 75% of healthcare expenditures. Furthermore imbalanced patient to clinician ratio is also expected to foster the growth in this market within the forecast period. However, limited reimbursement is expected to hamper the growth in this market.
On the basis of mode of delivery type, the global telehealth market is categorized into; web-based, cloud-based and on premise. This segment is dominated by web-based mode of delivery, by accounting for the largest share in 2016 and is expected to grow at a CAGR of 31.1% in coming five years. Web-based technology is creating a wide variety of information solutions that improve remote telehealth interactions. A major factor for high usage of web-based methods is due to minimal software and hardware requirements for using web-based telehealth solution. Cloud-based telehealth solutions are expected to witness the fastest growth with a double-digit CAGR in coming five years owing to increasing investment by IT firms in cloud computing.
Browse the full "Telehealth Market by Component Type (Hardware, Software, and Services), by Mode of Delivery Type (Web-Based, Cloud-Based and On-Premise) for Providers, Payers, Patients and Other End Users: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022" report at https://www.zionmarketresearch.com/report/global-telehealth-market
An end-user segment of the telehealth market includes the: providers, payers, patients and other end users. In this segment, providers based healthcare solutions attributed for the largest market share in 2016 and are expected to grow at a significant rate of CAGR in coming five years owing to increasing internet use by the healthcare professionals for medical consultations.
North America has dominated the global telehealth market and accounted for about 41.4% share and is expected to continue the same position in coming five years. In North America, U.S. is expected to gain the largest market share for telehealth owing to increasing investment in telehealth, increasing the prevalence of chronic diseases, increasing funding for telehealth and increasing awareness among patients about the benefits of telehealth products and services.
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Europe is expected to gain the second largest share in this market within the forecast period due to the increasing geriatric population and technological advancements and increasing implementation of digital healthcare systems. All these factors increase the demand for telehealth product and services in coming five years. In this region, Germany contributes for the significant share of this market in this region owing to the national use of eHealth Cards, high internet, and mobile phone penetration. The Health IT market in Germany in 2016 stands at $284 million, but the sector is expected to grow annually by 22 percent to reach $631.3 million by 2020.
Asia Pacific is expected to one of the attractive markets for telehealth and also expected to witness a significant growth with a double-digit CAGR within the forecast period. The growth in this region is expected to attribute by improving healthcare infrastructure. The major market share in this region is expected to contribute by India, China and Japan owing to rapidly growing healthcare industry in India and increasing old age population in Japan.
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Latin America is expected to show a moderate growth with a CAGR of 25.4% within the forecast period. Increasing healthcare expenditures is the major driving factor for telehealth market in this region. The Middle East and Africa is expected to positive growth due to increasing prevalence of chronic diseases.
The report presents comprehensive competitive outlook with company profiles of the key players operating in the global market. Key participants profiled in the report include Philips Healthcare, McKesson Corporation, Medtronic plc, Medvivo Group Ltd. and Tunstall Healthcare among others.
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This report segments the telehealth market as follows:
Global Telehealth Market: By Component Type Segment Analysis
- Hardware
- Software
- Services
Global Telehealth Market: By Mode of Delivery Type Segment Analysis
- Web-based
- Cloud based
- On-premise
Global Telehealth Market: By End User Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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