ReleaseWire

Telehealth Market Worth US$ 19.5 Bn by 2025 : CAGR: 15.0% : TMR

Posted: Monday, February 04, 2019 at 11:35 AM CST

Albany, NY -- (SBWire) -- 02/04/2019 --Global Telehealth Market: Snapshot

Owing to the increase in geriatric population and rise in cardiovascular diseases, the global telehealth market is anticipated to witness a rapid growth rate. The competitive landscape of the market is highly fragmented regarding the number of players who provide services like hardware and software. Due to the increase in the number of chronic diseases like asthma, cancer and diabetes, there is the flow of demand for self-care solutions or devices. This is accompanied by the advancement in technology in terms of mobile health care and medical imaging which further boosts the telehealth market globally.

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There are a number of factors contributing to the growth of the telehealth market like the information and communication technology or ICT, advancement in mobile perforation, and connectivity. Since mobile access is pervasive all around the globe, it is easier for the telehealth market to prevail with time. There is rise in remote monitoring solution adoption by patients in rural areas may also add to the growth of the telehealth market globally.

The telehealth market can also be expected to draw a large share of revenue owing to factors like effective image transfer, consistent evolution in communication and information technologies, and reporting and consultation. Adding to that, the scarce population of radiologists present around the world may also add to the increase in the overall growth of the telehealth market globally.

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Global Telehealth Market: Key Segments

Based on component, the global telehealth market has been segmented into hardware, software and services. The software segment has been bifurcated into integrated and standalone. The services segment has been divided into real-time, store & forward, remote monitoring, and others. The market size and forecast for each of these sub-segment have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.

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In terms of application, the global telehealth market has been segmented into radiology, cardiology, urgent care, remote ICU, psychiatry, dermatology, and others. Increasing research and development in mobile medical imaging systems and it's allow patients to take diagnostic images from smartphone and share it with the physician. This factor is responsible for the continuing dominance of the sub-segment.The market size and forecast for each of these sub-segment have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.

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