Growth in geriatric population, rising prevalence of chronic diseases, dearth of healthcare professionals worldwide, improvements in telecommunication infrastructure, technological advancements, increasing utilization of connected devices for the management of chronic diseases, benefits of telehealth, and need for affordable treatment options due to rising healthcare costs are expected to drive the growth of the telehealth market in the coming years.
The breakdown of profiles of primaries is shown in the figure below:
[208 Pages Report] The telehealth market is projected to reach USD 9.35 Billion by 2021 from USD 2.78 Billion in 2016, at a CAGR of 27.5% in the next five years (2016 to 2021).
By end user, the telehealth market is categorized into Providers, Payers, Patients, Other End Users (employer groups and government bodies). 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.
Telehealth Market by Region
By component, the telehealth market is categorized into services, software, and hardware. The services segment is estimated to account for the largest share of the global market. This can be attributed to the increasing adoption of remote monitoring solutions by patients in remote rural areas, technological advancements in telecommunication, and introduction of ACA and similar legislation’s in the U.S. Owing to this, the software segment is expected to witness the highest growth in the forecast period (2016-2021).
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