The telehealth could be positively used for the cure, treatment and effective care of the chronic diseases namely diabetes and cancer. Chronic syndrome decrease an individual’s quality of life, particularly if left undiagnosed and unprocessed. The telehealth can be utilized to address the growing requirement for healthcare services for cancer, diabetes and several other diseases in underdeveloped countries. Thus, the wide prevalence of such syndromes is predicted to fuel the market growth during the review period.
Furthermore, the telehealth market is positively observing a wider acceptance rate due to an increment geriatric populace, commonness of the chronic syndromes, and greatest government expenditure on the healthcare. The telehealth has made it possible to deliver the good healthcare services by the bridging the gap among the doctors and patients.
According to the report analysis, ‘Global Telehealth Market (2018-2023)’ states that in the telehealth market, there are numerous key players which positively functioning for leading the fastest market growth and registering the high value of market share around the globe in the coming years more enormously while developing the telehealth services, decreasing the price of the services, delivering better consumer satisfaction and spreading the awareness around the globe related to the applications of the telehealth services includes McKesson Corporation, Medtronic Inc., Cisco Systems, GE Healthcare, Allscripts Healthcare, Siemens Healthineers, LifeWatch AG, Philips Healthcare, Honeywell, Cerner Corporation and several others.
Additionally, the wide acceptance of the teledermatology is the uppermost among the application sectors, owing to the extraordinary cost of specialty healthcare. This sector involves the dermatology and makes available unconventional imaging technologies. Close on its heels are teleradiology (25%) and telecardiology (24%). The Telecardiology is fostered by the higher pervasiveness of cardiac ailments across the globe, and specific heart situations such as the cardiac arrhythmia which need the constant monitoring over a long duration. The Cancer patients demand the regular check-ups, which may not be possible for patients who sojourn far from hospitals. Teleradiology is an advantage for these patients, permitting them to chief the healthy lives.
The Remote patient monitoring (RPM) engaged a foremost market share of 63% in 2017, being the most predominant telehealth technology. Current regulations in regions like the United States (U.S.), Canada, and the United Kingdom (U.K.), mandate the imposition of fines on readmission of patients within 30 days of discharge. These guidelines, along with increasing healthcare costs, are the momentous drivers of RPM acceptance. Mobile health (mHealth), having controlled a market share of 22% in the same year, presents a lot of promise in the great allocation of the medical information to both patients and medical physicians. Video telemedicine registered for a share of 15% in 2017.
In addition, based on the region, the North America region has exhibited the foremost acceptance of the telehealth technologies and engaged approximately 49% of the global market in 2017. The country has rigorous healthcare regulations, along with a wide incidence of chronic diseases and vertical healthcare expenditures for employers, all of which resulted in the broader application of telehealth. The significant government investments in improving the telehealth infrastructure have led to the growth of the market in Europe region. In the present ear, the region registers for a 33% market share. Asia-Pacific, Latin America, and the Middle East and Africa are embryonic markets which are predicted to exhibit huge growth in the future.
Therefore, in the coming years, it is anticipated that the market of telehealth will increase around the globe over the forecast period.
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Ankur Gupta, Head Marketing & Communications
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