Global Telehealth Services Market is Anticipated to Witness High Growth Owing to Rising Demand for Remote Healthcare Services

Telehealth Services Market


 Telehealth services involve the remote delivery of healthcare services such as clinical care, diagnosis, treatment, outcome and monitoring through information and communication technologies. It allows patients and providers to communicate with each other virtually for healthcare services without an in-person visit. Telehealth services facilitate easy access to healthcare from remote areas by connecting patients with physicians, nurses and health professionals online. This helps address the issue of shortage of doctors in rural areas. Telehealth services are convenient and provide round the clock access to healthcare facilities for patients.

The Global Telehealth Services Market Demand is estimated to be valued at US$ 12.47 BN in 2024 and is expected to exhibit a CAGR of 10.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Telehealth Services are Teladoc Health, Doctor On Demand, MDLIVE, Grand Rounds, eVisit, Cliquent, Ping An Good Doctor, Habit Health, American Well Corporation, Murata Vios, Doximity, Hims & Hers Health, Inc. and Other Prominent Players. The increasing demand for remote healthcare services and shortage of physicians in rural areas are creating significant opportunities for telehealth market players. Major players are focusing on expanding their digital healthcare platforms to new geographies and virtual care capabilities. Companies are also undertaking strategic collaborations to develop advanced telehealth solutions to capitalize on rising demand. The growing adoption of telehealth services across various regions indicates significant global expansion opportunities for market players over the coming years.

Market Drivers and Restraints

One of the major market drivers is the rising demand for remote healthcare services due to growing geriatric population and prevalence of chronic diseases. Large number of elderly people require frequent healthcare consultations which is driving adoption of convenient telehealth solutions. Telehealth services also help manage chronic diseases effectively by facilitating remote patient monitoring and ensuring treatment compliance.

However, data privacy and security concerns about confidential patient information being shared over digital platforms is a major market restraint. Lack of reimbursement policies for telemedicine and affordability issues in developing regions also hamper the market growth to some extent. Standardization and interoperability challenges associated with integrating telehealth solutions within existing healthcare infrastructure pose challenges for widespread adoption.
Segment Analysis 1. Store-and-forward is dominating subsegment of Global Telehealth Services Market. Under this sub segment, medical information like X-rays, ECG scans, audios and digital images is recorded and stored in one site and forwarded to specialist doctors at another location for consultation. This sub segment is highest revenue generating due to rising adoption of teleICU and telepathology services across numerous healthcare organizations. 2. Real-time is another fastest growing subsegment of telehealth market. This model majorly includes video conferencing between patient and medical expert for preliminary diagnosis and consultation. Rising deployment of advanced telemedicine carts, devices and telecommunication technologies among healthcare providers is boosting growth of real-time sub segment.

Global Analysis North America is the largest and fastest growing regional market for telehealth services. High healthcare expenditure, high adoption of advanced healthcare technologies, favorable reimbursement policies for telehealth services by private and public payers are fueling North America telehealth market. Asia Pacific is emerging as promising regional market attributed to rising geriatric population, increasing prevalence of chronic diseases, improving connectivity infrastructure and growing awareness about telehealth in countries like India, China and Japan. Market players are mostly concentrated in US and expanding their presence in other high potential markets through acquisition and collaboration with regional players.

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