Telehealth Market by Component, Delivery Mode and End User - Global Industry Analysis and Forecast to 2025

Report Code : HC06120

Telehealth refers to the use of telecommunication technologies and electronic information to promote and support long distance clinical healthcare, health related education and administration of public health. Such technologies include the internet, video conferencing, storing and forwarding of images, terrestrial and wireless communication and different streaming media. Telehealth technology has brought a revolution in healthcare delivery system enabling healthcare providers to connect with their patients and to consult other practitioners across long distances. Healthcare institutions are rapidly adopting telehealth systems owing to the associated benefits such as virtual consultations with specialists from distant locations and cost effective and convenient healthcare options for the patients.

Telehealth traditionally comprises of three major dimensions that are, real time telehealth services, store and forward communication systems and remote patient monitoring. Real time telehealth services enable a two way interaction between the healthcare provider and a patient or his caregiver through audio-visual mediums. These systems can be used to effectively consult, diagnose and treat the patients who are located at remote distances from the healthcare institution. By using store and forward communication systems, a patient’s recorded health history such as digital medical images like X-rays, pre-recorded videos and reports can be transmitted to the healthcare practitioner through a secure electronic communication system. This information can be vital for assessing the patient’s case. Such pre-recorded information can be of great help for patients who need specialty care when providers are not available locally. Remote patient monitoring refers to the collection and transmission of a patient’s medical data to a healthcare provider at a different location. This data enables the provider to track/monitor the health related parameters of that patient from a remote location. Apart from these three traditional dimensions, various other applications such as mHealth or mobile health serves, wearable devices to track wellness and health and different online services have flourished over the years.

The fundamental benefits of telehealth are improved access to the patients at remote locations, cost effectiveness of telehealth services over conventional healthcare services, improved efficiency and quality of healthcare service delivery. Patients can expect better and faster outcomes as they have instant access to the specialists. Unnecessary readmissions can be significantly reduced due to the availability of remote consultation and monitoring services allowing patients to effectively manage their health conditions at home.

Some of the key factors driving the growth of the global telehealth market are increasing demand to centralize healthcare administration, increasing adoption of telehealth applications in homecare and cost effectiveness of telehealth services over conventional healthcare services. With rapid improvement in telecommunication infrastructure worldwide and increasing penetration of high speed, low cost internet services, more and more people are getting access to telehealth services across the globe.  However factors such as unfavorable reimbursement policies related to telehealth services and concerns related to the security of patient information can hamper the market growth to some extent.

 The major players operating in the global telehealth market focus on product development and strategic collaborations to introduce next generation telehealth products and earn a larger share of the market. For instance, in November 2016, Cerner Corporation and American Well partnered to integrate American Well’s telehealth platform and Cerner Corporation’s electronic health record platform in order to manage healthcare virtually and provide patient access via Cerner Corporation’s HealtheLifeSM patient engagement portal. Some of the major players in the global telehealth market are Cerner Corporation, Koninklijke Philips N.V., Medtronic plc, Tunstall Healthcare, Honeywell International Inc., American Well, Care Innovations, LLC., Cisco Systems, Inc., Medvivo Group Ltd and Aerotel Medical Systems Ltd.

Telehealth Market Segmentation

By Component:

  •  Hardware
  • Medical Peripheral Devices
  • Blood Glucose Meters
  • Weighing Scales
  • Blood Pressure Meters
  • Peak Flow Meters
  • Pulse Oximeters
  • ECG Monitors
  • Other Medical Peripheral Devices
  •  Service
  • Remote Patient Monitoring
  • Store And Forward
  • Real-Time Interactions
  • Other Services
  • Software
  • Integrated Software
  • Standalone Software

By Delivery Mode:

  • On-Premise
  • Web-Based
  • Cloud-Based

By End User:

  • Providers
  • Patients
  • Payers
  • Other End Users

By Region:

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • Turkey
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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