Telehealth Market is Projected to Expand at a CAGR of4.5%Between 2017 and 2025

Transparency Market Research (TMR) has published a new report titled, "Telehealth Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025". According to the report, the global telehealth market was valued at US$ 6.0 Bn in 2016 and is projected to expand at a CAGR of 13.0% from 2017 to 2025. The report suggests that increase in prevalence of chronic diseases such as diabetes, cardiovascular diseases, and others is anticipated to boost the growth of the telehealth market from 2017 to 2025. North America and Europe are projected to dominate the global telehealth market during the forecast period owing to increase in focus on services for business expansion in these regions. Players are continuously expanding their services and products in North America and Europe. Increase in adoption of technology and rise in demand for self-care devices/solutions is likely to drive the telehealth market in Asia Pacific. The telehealth market in the region is expected to expand at a CAGR of 15.0% from 2017 to 2025.

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Services Dominates the Global Telehealth Market

The report offers detailed segmentation of the global telehealth market based on component, application, and end-user. In terms of component, the services segment is poised to account for leading share of the global telehealth market during the forecast period from 2017 to 2025. Increase in adoption of remote monitoring solutions by patients in remote rural areas are the factors likely to drive the services segment during the forecast period. The software segment is anticipated to expand at a comparatively higher growth rate than the hardware segment in terms of revenue during the forecast period owing to continuous innovations in software by major players.

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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.

The global telehealth market is anticipated to expand at a CAGR of 13.0% within the forecast period of 2017 to 2025. Previously the market was valued at US$ 6.0 bn as of the 2016 records. The rising number of chronic diseases and their concern is presumed to expand the growth of the global telehealth market during the forecast period.

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