Telehealth Market Scope
Telehealth refers to the remote delivery medium of health care services to a patient through technology. Recently Use of telehealth has been rapidly increased. For instance, according to the study published by Fair Health in 2018 use of non-hospital based provider to patient telehealth accounted for 84 percent of the total telehealth claim lines. Further, technological advancement in the healthcare industry and rising healthcare spending in the developing economies propelling market growth. Moreover, the growing adoption of wearable technology and the increasing number of patients with chronic diseases expected to drive the demand for telehealth over the forecasted period.
According to AMA, the Global Telehealth market is expected to see growth rate of 24.31% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Telehealth market throughout the predicted period.
Koninklijke Philips N.V (Netherland), Medtronic plc (Ireland), Honeywell Life Care Solutions (United States), Tunstall Healthcare (United Kingdom), Care Innovations (United States), Cerner Corporation (United States), Cisco Systems, Inc. (United States), Medvivo Group Ltd. (United Kingdom), GlobalMedia Group, LLC (United States), Aerotel Medical Systems Ltd. (Israel) and AMD Global Telemedicine, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are FAIR Health (United States), American Well (United States), InTouch Health (United States) and Vidyo Inc. (United States).
Segmentation Overview
The study have segmented the market of Global Telehealth market and Region with country level break-up.
On the basis of geography, the market of Telehealth has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing Adoption of Wearable Technologies and Emphasizing On Development of Cost-Effective Healthcare Treatment
Market Growth Drivers:
Increasing Geriatric Population and Rising Prevalence of Chronic Diseases Such As Diabetes, Respiratory Diseases, and Others
Challenges:
Lack of Common Standards and Awareness about Telehealth and Lack of Network Infrastructure in the Low and Middle Income Group Countries
Restraints:
Privacy and Security Concerns Associated with Telehealth and Stringent Government Regulations Regarding Telehealth
Opportunities:
Growing Demand for Remote Monitoring Solution in Healthcare Industry and Increasing Healthcare Spending In Developing Economies
22nd July 2019, Anthem, the health insurance company enters into a partnership with K Health, Inc. provider of smart health management solutions to launch a new co-branded AI-driven triage and symptom checker app for Anthem members. This app will help to determine potential diagnosis and text with doctors for medical advice.
“In 2012, Congress passed the Food and Drug Administration Safety and Innovation Act, a section of which tasked the Food and Drug Administration (FDA), in consultation with the FCC and the Office of the National Coordinator for Health Information Technology (ONC), with developing strategy and recommendations on an appropriate, risk-based regulatory framework pertaining to health information technology, including mobile medical apps, that promotes innovation, protects patient safety, and avoids regulatory duplication. Moreover, In April 2014, the FDA, the FCC, and the ONC entered into a memorandum of understanding in which the agencies agreed to collaborate within the areas of their respective scopes of authority on existing technology and on emerging innovations in mHealth and to regulate their usage.”
Key Target Audience
Healthcare IT Service Providers, Healthcare Insurance Companies, Venture Capitalists, Government Bodies, Corporate Entities, Market Research and Consulting Firms, Medical Device Manufacturers, Accountable Care Organizations, Community Centers, Telehealth Resource Centers and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.