Market Research Report
North American Telehealth/Telemedicine Market By Component (Service, Software, Device), Delivery (On Premise, Cloud), Application (Radiology, Cardiology, Primary/Urgent Care, ICU, Mental Health), End User (Physician, Payor, Patient) - Forecast To 2024
|Published by||Meticulous Market Research Pvt. Ltd.||Product code||754184|
|Published||Content info||148 Pages
Delivery time: 1-2 business days
|North American Telehealth/Telemedicine Market By Component (Service, Software, Device), Delivery (On Premise, Cloud), Application (Radiology, Cardiology, Primary/Urgent Care, ICU, Mental Health), End User (Physician, Payor, Patient) - Forecast To 2024|
|Published: December 6, 2018||Content info: 148 Pages||
North American telehealth market is expected to reach $9,496.6 million by 2024, at a CAGR of 24.3% during the forecast period (2018-2024).
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and challenges in the market dynamics segment. Increasing awareness about benefits of telemedicine, shortage of healthcare professionals, favorable government initiatives & reforms/policies supporting digital health, and growing focus on value-based care are driving the market growth. However, lack of telehealth standards may hinder the market growth.
Telehealth services segment accounted for the largest share of the North American telehealth market, primarily attributed to the increasing adoption of remote monitoring solutions by patients in remote rural areas, technological advancements in telecommunications, and introduction of ACA and similar legislations supporting the adoption of telehealth in the U.S. The software segment, on the other hand, is an integral part of telehealth solutions and works as an interface between the database and end users. Owing to this, the software segment is expected to witness the highest growth in the forecast period.
In addition, the report further gives an extensive outlook on various end users of telehealth such as healthcare providers, payers, and patients. These end user segments further briefly discuss about the factors impacting their growth. Apart from end users, the report provides insights on adoption of various deployment models, components, and applications of telehealth.
Geographically, the U.S. commanded the largest share of the North American telehealth market. The large share and fastest growth of this region is mainly attributed to rising healthcare costs, supporting government reforms, improving reimbursement policies, increasing prevalence of chronic diseases, shortage of healthcare professionals, increasing funding for telehealth, and presence of several key players in this region.
The key players operating in North American telehealth market are AMD Global Telemedicine, Inc., American Well, Care Innovations, LLC (Intel Corporation), Cerner Corporation, Cisco Systems, Inc., Doctor On Demand, Honeywell Life Care Solutions, InTouch Health, MDLIVE Inc., Medtronic PLC, McKesson Corporation, Philips Healthcare, Sherpaa Health, Siemens Healthineers, SnapMD, Inc. Teladoc, Inc., Vidyo, Inc., Iris Telehealth, Zipnosis, BioTelemetry, Inc., Welch Allyn, Inc., and CareClix among others.