Global Telehealth Market is expected to grow at CAGR 19.5% by 2028 due to increasing government initiatives towards telehealth amidst Covid-19 pandemic, says Absolute Markets Insights

Absolute Markets Insights has added insightful analytical data to its massive repository titled, Telehealth Market. The report highlights leading key players operating in the global regions such as North America, Latin America, Europe, Asia-Pacific, and India. Different graphical presentation techniques such as charts, graphs, table, and pictures have been used while curating the report.

Telehealth provides health-related data and services with the help of telecommunication technologies. It combines different technologies across virtual medical and health services that facilitate the delivery of healthcare facilities. These programs allow patients and healthcare specialists to interact over long distances and facilitate quick diagnosis, referral, treatment and more. Because of its ability to ensure healthcare access in rural areas and to resolve distance barriers, telehealth has seen a rising adoption around the globe. The bulk of the population lives in rural areas in underdeveloped countries and entry to quality healthcare is absent in such areas. Therefore, different steps are being taken by the governments of these countries to provide healthcare services in rural areas. This is achieved with the assistance of networks for virtual treatment. The market growth is guided by factors such as increasing population which further increases the demand for healthcare services.

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Furthermore, rapid digitalization in the healthcare sector encourages the growth of this industry. In addition, growing government initiatives and increasing customer awareness factors are fueling the growth of the telehealth market. The COVID-19 pandemic offers enormous potential for solutions to telehealth, social distancing has created need for adoption of advanced technologies to mitigate health of patients. Telehealth is an attractive, reliable, and affordable alternative. In addition, to keep health professionals secure this technology is of vital importance. Doctors and other health professionals are expanding telehealth programs in order to expose patients and their families to COVID-19, using a combination of audio and video technologies to make connections. In the aftermath of the pandemic demand for health care facilities and technology is hitting an all-time high. With a global shortage of hospital beds and healthcare staff, the promise of telehealth has been highlighted.

Telehealth technology is becoming more advanced as time goes accelerating its presence in the healthcare sector. New devices and services help physicians support their patients and respond to the current health crisis. Telehealth continues to increase in popularity in the United States, this is due to the fact that more people are suffering from chronic diseases than ever before. The increasing number of chronically ill patients is largely due to the ageing population. Elderly patients in the United States have the largest share of healthcare expenditures. Telehealth is used by medical providers to help treat and handle these patients as many of these patients have difficulty accessing their care provider every year. The U.S. continues to be the leading market for telehealth services also this technology now makes room for many other countries and continents. Europe is on track to become the second-largest telehealth market, while the Asia-Pacific region is the fastest-growing region due to increased geriatric population. Telehealth will continue to grow around the world at a rapid pace. Large and small businesses are searching for ways to reduce healthcare expenses while treating the ageing population and people with chronic illnesses better. If these developments begin to take place providers may need to change their approach to medicine and healthcare. Without compromising the overall standard of service, telehealth will help suppliers to better meet patient needs.

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A telehealth program improves the performance of a company in achieving targets by nearly 30 percent. Patients interested in remote patient monitoring have lower chances of experiencing hospital stays, less emergency care or emergency room visits, increased physical endurance, and improved control of symptoms. Telehealth has the ability to improve access to treatment across a broad spectrum of specialties in healthcare. The advantages apply to patients, healthcare providers and the healthcare sector. Multiple care-related components can be expended by the concept of telehealth, for example to mental health, which may help minimize the stigma associated with the sector. It can also potentially be used in emergency room environments where it can minimize care costs, tension in the workplace and wait times. Growth of the market is cultivated by growing investments in telemedicine. Over 80% of healthcare organizations claim that there will be an exponential increase in the investments in telehealth, and also the demand of customers is pushing organizations to invest in the telehealth sector.

Time, distance, and availability are becoming smaller barriers with the introduction of these emerging technologies and treatment strategies. The industry consists of many businesses that currently plan to implement strategies like investment and acquisitions to gain a competitive advantage over other market players. Teladoc Health revealed its preparations for InTouch Health to be acquired. The latter is a recognized supplier of hospital telehealth solutions. This acquisition will assist Teladoc to improve its role in the virtual care space. More than 450 hospitals have joined up with InTouch Health. In a Series A fund, Zava, a digital healthcare provider, raised 32 million. The main goal of the organization is to create safe and affordable healthcare by simultaneously reducing costs. The company has given more than 3 million consultations in Europe since it was created.Major players operating in the telehealth market are Cisco Systems Inc., Life Care Solutions, Siemens Healthcare, and Robert Bosch Healthcare amongst others.

The detailed research study provides qualitative and quantitative analysis of the global telehealth market. The telehealth market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Global Telehealth Market

  • By Component
    • Hardware
    • Services
    • Software
  • By Delivery
    • On demand
    • Web based
    • Cloud
  • By End User
    • Healthcare Providers
    • Patients and Payer
  •  By Region 
    • North America
      • U.S.
      • Canada
      • Mexico
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
      • Benelux Union
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Argentina
      • Brazil
      • Rest of Latin America

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