Global Telehealth Software Market, By Application (Tele-Radiology, Tele-Stroke, Tele–Intensive Care Unit), End User (Provider, Patient, Payer), Delivery (Cloud, On-Premise), Software (Real Time Communication Software, Store and Forward Telehealth Software, Remote Patient Monitoring Telehealth Software) – Industry Trends and Forecast to 2029.
Telehealth Software Market Analysis and Size
The rise in the occurrence of chronic diseases across the globe and advancements in the telecommunications sector are the factors driving the growth of the market over the forecasted period. Moreover, the rising investments by the market players are also boosting the growth of the market.
Global telehealth software market was valued at USD 6,290.30 million in 2021 and is expected to reach USD 19376.44 million by 2029, registering a CAGR of 15.10% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Telehealth Software Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Tele-Radiology, Tele-Stroke, Tele–Intensive Care Unit), End User (Provider, Patient, Payer), Delivery (Cloud, On-Premise)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Capsule Technologies, Inc. (U.S.), Chiron Health (U.S.), Cisco Systems, Inc. (U.S.), Biotricity (U.S.), A&D Company, Limited (Japan), OSI Systems, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Advanced Micro Devices, Inc (U.S.), GLOBAL MEDIA GROUP (U.K.), BioTelemetry (U.S.), Resideo Technologies Inc. (U.S.), Masimo. (U.S.), eVisit. (Arizona), edgeMED Healthcare, LLC (U.S.), INTeleIC (India)
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Market Opportunities
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Market Definition
Telehealth is conveying health-related services and information via electronic information and telecommunication technology. It helps in allowing long-distance and clinician care, contact, advise, reminders, education, intervention, monitoring and remote admissions.
Global Telehealth Software Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Accelerating chronic diseases across the globe
The rising chronic diseases across the globe have been behind the major causes of death and disability globally and are the strong contributors in the rise of annual healthcare expenditures. Telehealth and telemedicine, especially remote patent monitoring facilities, can improve patient self-management, medication compliance and clinical outputs. All these factors are driving the growth of the market bovver the forecasted period.
- Favourable initiatives carried out by the government
The governments worldwide have played a significant role in the smart cities business through rules and programs to deploy smart services as a substantial component of their infrastructure and healthcare infrastructure. Governments' growing adoption of big data analytics to enhance smart cities will accelerate the overall market expansion during the forecast period. The rising disposable income of the population will further positively impact the market's growth rate during the forecast period.
Opportunities
- Adoption of various advanced technologies
The increased adoption of various advanced technologies is further estimated to generate lucrative opportunities for the market, which will further expand the market’s growth rate in the future. The big data analytics can process data collected from the telehealth modalities, including objective as well as the subjective data. Most market players are ensuring to apply the telehealth facilities across the right patients and healthcare needs. The increasing efficacy and efficiency of the care delivery further creating lucrative growth opportunities for the market over the forecasted period.
Restraints/Challenges
• Data privacy concerns
The adoption of the smart services increases the chances of the data privacy and the related concerns. As businesses are actively adopting cutting-edge, AI-powered algorithms to create new sensitive information, privacy concerns are emerging. These data privacy issues will further develop various challenges for the telehealth software market over the forecasted period.
- Lack of awareness
The lack of awareness regarding the benefits of the telehealth software across developing nations is the factor that will further obstruct the growth of the market over the forecasted period.
This telehealth software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the telehealth software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent developments
- In 2020, Teladoc health and living merged to create new standards in global healthcare delivery, access and experience. It helps create a new category of solutions that focuses on delivering the whole person's care and provides better healthcare outcomes.
Global Telehealth Software Market Scope
The telehealth software market is segmented on the basis of application, end user, software and delivery. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Tele-Radiology
- Tele-Stroke
- Tele–Intensive Care Unit
End User
- Provider
- Patient
- Payer
Delivery
- Cloud
- On-Premise
Software
- Real Time Communication Software
- Store and Forward Telehealth Software
- Remote Patient Monitoring Telehealth Software
Telehealth Software Market Regional Analysis/Insights
The telehealth software market is analyzed and market size insights and trends are provided by application, end user, software and delivery as referenced above.
The countries covered in the telehealth software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the telehealth software market because of the growing adoption of big data analytics coupled with the presence of a well-established infrastructure within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing population in cities and the rising number of chronic diseases within the region. Moreover, the rising number of smart cities in developing economies such as India, China, and Korea is a significant contributor to the regional market expansion.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Telehealth Software Market Share Analysis
The telehealth software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to telehealth software market.
Some of the major players operating in the telehealth software market are
- Capsule Technologies, Inc. (U.S.)
- Chiron Health (U.S.)
- Cisco Systems, Inc. (U.S.)
- Biotricity (U.S.)
- A&D Company, Limited (Japan)
- OSI Systems, Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Advanced Micro Devices, Inc (U.S.)
- GLOBAL MEDIA GROUP (U.K.)
- BioTelemetry (U.S.)
- Resideo Technologies Inc. (U.S.)
- Masimo. (U.S.)
- eVisit. (Arizona)
- edgeMED Healthcare, LLC (U.S.)
- INTeleIC (India)
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