Telehealth Market Opportunity will Rise toUS$ 19.5 Bn by 2025

The radiology segment is projected to account for high share of the global telehealth market during the forecast period. The segment is likely to expand at a CAGR of 13.0% from 2017 to 2025. Telehealth technology and services enable knowledge and resource sharing between rural and urban areas in minimum time duration. Moreover, consistent evolution in information and communication technologies, effective image transfer, consultation and reporting, and scarcity of radiologists across the globe are the factors expected to drive the segment from 2017 to 2025. Cardiology is another key application of telehealth and is anticipated to account for 19.0% market share by 2025. Increase in prevalence of cardiovascular diseases such as heart diseases and stroke are the factors likely to drive the segment during the forecast period. According to the World Health Organization, cardiovascular diseases accounted for an estimated 17.7 million deaths in 2015, representing 31% of all global deaths. Of these, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke.

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Owing to the increase in geriatric population and rise in cardiovascular diseases, the global telehealth market is anticipated to witness a rapid growth rate. The competitive landscape of the market is highly fragmented regarding the number of players who provide services like hardware and software. Due to the increase in the number of chronic diseases like asthma, cancer and diabetes, there is the flow of demand for self-care solutions or devices. This is accompanied by the advancement in technology in terms of mobile health care and medical imaging which further boosts the telehealth market globally.

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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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There are a number of factors contributing to the growth of the telehealth market like the information and communication technology or ICT, advancement in mobile perforation, and connectivity. Since mobile access is pervasive all around the globe, it is easier for the telehealth market to prevail with time. There is rise in remote monitoring solution adoption by patients in rural areas may also add to the growth of the telehealth market globally.

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