How Global Telehealth Market Players Should Strategize For 2022-2031

The global telehealth market size is expected to decline from $80.53 billion in 2021 to $102.42 billion in 2022 at a compound annual growth rate (CAGR) of 27.2%. The change in the telehealth market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The telehealth market is expected to reach $271.69 billion in 2026 at a CAGR of 27.6%.

What is the Global Telehealth Market?

The telehealth market consists of sales of telehealth services by entities (organizations, sole traders and partnerships) that are engaged in providing telehealth services for the smooth functioning of healthcare services. Telehealth is the use of electronic data and telecommunications technology to promote long-distance medical healthcare services, patient and professional health education, public health, and health management. Technologies comprise streaming media, teleconferencing, web, store-and-forward imaging, terrestrial and wireless communications.

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What drives the Global Telehealth Market?

The outbreak of COVID-19 propelled the growth of the telehealth market. Telehealth is recognized to be an effective tool in the fight against the coronavirus pandemic, to prevent the spread of the virus due to traveling to clinics and hospitals. Individuals, both patients and healthcare providers, are increasingly moving towards these online platforms. For instance, Teladoc Health, a virtual healthcare company based in the USA, has seen a huge increase in virtual visits, with an increase of 92% in total visits in the first quarter. Therefore, the outbreak of COVID-19 contributed to the growth of the telehealth market.

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Global Telehealth Market Segments
The global telehealth market is segmented:
By Component: Software, Services, Hardware
By Mode Of Delivery: Cloud-Based, On-Premise
By Application: Teleradiology, Tele-Consultation, Tele-ICU, Tele-Stroke, Tele-Psychiatry, Tele-Dermatology, Others
By End-User: Healthcare Providers, Patients, Payers, Others
By Geography: The regions covered in the telehealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Telehealth Global Market Report 2022provides market size and growth forecasts for the global telehealth market, global telehealth market share, telehealth market segments and geographies, telehealth market competitive landscape including leading competitors’ revenues, profiles and market shares. The telehealth market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Telehealth Industry Playersinclude Teladoc Health Inc, American Well, MDLive, Doctor on Demand, GlobalMed, Siemens Healthineers, Cisco Systems, Inc, Medtronic, Dictum Health Inc and Koninklijke Philips N.V. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.