PUBLISHER: IMARC | PRODUCT CODE: 1236893
PUBLISHER: IMARC | PRODUCT CODE: 1236893
The global telehealth market size reached US$ 15.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.8 Billion by 2028, exhibiting a growth rate (CAGR) of 21.6% during 2023-2028.
Telehealth can be defined as the remote delivery of clinical as well as non-clinical services through tele- and digital communication technologies. It is also used by medical practitioners for various telemedicine services (consultation, mentoring and monitoring), for the training of medical staff, administrative meetings and imparting medical education. These services are usually provided using video conferencing, mobile health (mHealth) applications, electronic transmission of data and remote patient monitoring (RPM). These solutions enable healthcare providers to offer consultation, care management, diagnosis, and self-management services using information and communication technologies (ICT) and facilitate patients to get appropriate medical attention without traveling.
The increasing prevalence of chronic diseases across the globe is one of the key factors driving the growth of the market. Furthermore, rising geriatric population and the expanding demand for home monitoring devices, are also providing a boost to the market growth. There is widespread adoption of telehealth systems in the field of cardiology, radiology and online consultation for the treatment of various medical ailments, such as diabetes, cancer and cardiovascular diseases (CVDs), that require continual medical supervision. Additionally, various technological advancements, such as the development of health monitoring smartphone applications and user-friendly systems, are acting as another growth-inducing factor. Patients across the globe are using various wearable devices, such as smartwatches and bands, to keep a regular check on blood pressure, blood glucose levels, sleep patterns and chronic pain in the body. Other factors, including the rising health consciousness among the masses, along with extensive research and development (R&D) activities in the field of medical sciences and telecommunication technologies, are projected to drive the market further.