The telehealth market continues to be influenced by a range of broader and industry-specific factors
Albany, NY -- (SBWIRE) -- 06/14/2018 -- The telehealth market is likely to reach a valuation of nearly US$ 20 Bn by the end of 2025, growing at 13% CAGR during the period 2017-2025, according to a new research study added to the vast repository of Market Research Reports Search Engine (MRRSE). The report titled "Telehealth Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025" is a comprehensive source of information and analysis in the telehealth market.
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According to the study, the telehealth market continues to be influenced by a range of broader and industry-specific factors. Increasing prevalence of lifestyle and chronic diseases has led to clamor for better and efficient management of ailments. The growing penetration of smartphones, especially among geriatric population is also promoting the cause of telehealth services. These factors are likely to provide an impetus to growth during the assessment period. The advances in mHealth, along with increasing penetration of 4G and 5G technologies are likely to augur well for the growth of the market during the assessment period.
The business intelligence study offers analysis on the basis of component, end-user, application, and region. By component, services segment will continue to account for the leading revenue share. By application, radiology is likely to account for revenue shares of nearly 30% during the assessment period.
The report also offers market forecast and analysis on the basis of key regions. According to the study, North America continues to be one of the leading markets for telehealth during the assessment period. The North America telehealth market remains concentrated in the US, and although the infrastructure and awareness is high in Canada as well, the former accounts for leading revenue share of the market.
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In addition to North America, the telehealth market is also likely to be driven by growing proliferation of smartphones and high-speed internet connectivity in Asia Pacific. Many countries in Asia Pacific are witnessing impressive economic growth, and the effects of this have been palpable in the healthcare sector. The growing emphasis among governments in the region to provide quality healthcare services to the population is also likely to create favorable scenario for telehealth vendors in the region.
The research study also offers in-depth analysis on the leading players in the telehealth market. According to the research study, some of the leading players in the market include Teladoc, Inc., American Well, BioTelemetry, Inc., Medtronic, Aerotel Medical Systems Ltd., InTouch Technologies, Inc., Koninklijke Philips N.V., Honeywell International, Inc., GE Healthcare, and AMD Global Telemedicine, Inc.
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