The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Telehealth Global Market Report 2023, the telehealth market is expected to show promising growth in the forecast period.

The global telehealth market has witnessed an unprecedented surge, growing from $102.98 billion in 2022 to $132.63 billion in 2023, boasting a remarkable compound annual growth rate (CAGR) of 28.8%. Projections indicate a continued upward trajectory, with the market size expected to reach $349.11 billion in 2027, maintaining a robust CAGR of 27.4%. Let’s delve into the key drivers, players, challenges, and the segmented landscape shaping the future of telehealth.

Catalyst of Change: COVID-19’s Impact on Telehealth

• Pandemic-Driven Surge: The outbreak of COVID-19 played a pivotal role in propelling the growth of the telehealth market. Recognized as a potent tool in the fight against the pandemic, telehealth offered a solution to curb the virus’s spread by minimizing the need for physical visits to clinics and hospitals.
• Rapid Adoption Rates: Both patients and healthcare providers pivoted towards online platforms. Teladoc Health, a prominent virtual healthcare company based in the USA, witnessed a staggering 92% increase in virtual visits during the first quarter. The surge in adoption was further highlighted by Teladoc’s announcement of a 61% increase in US subscriptions, reaching 43 million users in the first quarter of 2020 compared to 27 million users in the same quarter in 2019.

Major Players Driving Innovation

The telehealth market is characterized by major players at the forefront of innovation and service delivery. The key players include:

• Teladoc Health Inc.
• American Well
• MDLive
• Doctor on Demand
• GlobalMed
• Siemens Healthineers
• Cisco Systems, Inc.
• Medtronic
• Dictum Health, Inc.
• Koninklijke Philips N.V.
• GE Healthcare
• AMC Health
• Medvivo Group Ltd.
• Iron Bow Technologies
• Telespecialists LLC
• MedWeb
• IMediplus Inc.
• Vsee
• Chiron Health
• Zipnosis
• Allscripts Healthcare Solutions
• Honeywell International Inc.
• Right Health
• Boston Scientific Corporation
• Care Innovations LLC
• InTouch Technologies, Inc.
• Encounter Telehealth
• HelloMD
• SnapMD, Inc.
• OpenTeleHealth

Security Concerns: A Hurdle in Telehealth’s Growth Path

• Data Security Challenges: Despite the rapid growth, the telehealth market faces challenges, with data security concerns topping the list. The digitization of business and data management systems in the healthcare sector introduces vulnerabilities. Cyber-criminals target the healthcare sector, with nearly 30% of healthcare delivery organizations suffering data breaches in the last 12 months, according to the Healthcare Protection Vision Study from CyberMDX released in February 2020.
• Potential Mishandling of Patient Data: The telehealth sector’s vulnerability to potential mishandling of patient data creates a significant hurdle. While the healthcare sector endeavors to enhance performance and cut costs through digitization, the prevalence of successful cyber-attacks poses a real and persistent threat to the security of patient information.

Segmented Landscape: Navigating Components, Modes, Applications, and End-Users

• Component Segmentation:
  • Software
  • Services
  • Hardware
• Mode of Delivery Segmentation:
  • Cloud-based
  • On-Premise
• Application Segmentation:
  • Teleradiology
  • Tele-Consultation
  • Tele-ICU
  • Tele-Stroke
  • Tele-Psychiatry
  • Tele-Dermatology
  • Other Applications
• End-User Segmentation:
  • Healthcare Providers
  • Patients
  • Payers
  • Other End-Users

Regional Dynamics: North America Leading the Charge

• North America’s Dominance: In 2022, North America emerged as the largest region in the telehealth market. The region’s robust healthcare infrastructure and the accelerated adoption of telehealth technologies position it as a frontrunner in driving the evolution of the global telehealth landscape.

View More On The Telehealth Market Report 2023 – https://www.thebusinessresearchcompany.com/report/telehealth-global-market-report

Request A Sample Of The Global Telehealth Market Report 2023:
https://www.thebusinessresearchcompany.com/sample_request?id=3954&type=smp

The Telehealth Global Market Report 2023  offers a comprehensive overview on the telehealth market size, growth rate, trends and drivers, opportunities, strategies, and competitor landscape. The countries covered in the telehealth market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The Table Of Content For The Telehealth Market Include:
1. Telehealth Market Executive Summary
2. Telehealth Market Segments
3. Telehealth Market Size And Telehealth Market Growth Rate
4. Key Telehealth Market Trends
5. Major Telehealth Market Drivers
……
25. Key Mergers And Acquisitions In The Telehealth Market
26. Top Telehealth Companies
27. Telehealth Market Opportunities And Strategies
28. Telehealth Market, Conclusions And Recommendations
29. Appendix

View More Related Reports –
Veterinary Telehealth Global Market Report 2023
Telepsychiatry Global Market Report 2023
Telemedicine Services Global Market Report 2023

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