The market for telehealth software is anticipated to increase from US$ 6,010 million in 2022 to US$ 14,200 million in 2030, at a CAGR of 15.4%. Nearly 8% of the market for telehealth and telemedicine is devoted to telehealth software.
| 2022 Market Value | US$ 6,010 Mn |
| 2030 Market Value | US$ 14,200 Mn |
| CAGR% (2022-2030) | 15.4% |
| Share of Top 5 Players | 20% |
The market for telehealth software is anticipated to grow significantly between 2022 and 2030, with a 15.4% CAGR, to reach US$ 14,200 Mn. The use of telehealth software is revolutionising how healthcare is given. Telehealth software enables healthcare professionals to enhance patient care while also enhancing patient outcomes and distant monitoring. It does this by employing wireless connections and electronic consultations.
Hospitals and healthcare systems are setting the standard for others to follow in adopting and expanding via telehealth as a result of the increased use of digital technology to offer healthcare and promote public health. For instance, approximately 76 percent of American hospitals, according to the American Hospital Association, have recently fully or largely implemented computerised telehealth solutions and software.
Request Sample of This Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-7349
With the increasing acceptance of mHealth solutions, the potential for the growth of telehealth software are expected to increase significantly in the upcoming years. Digital technologies are steadily emerging as a significant resource for the improved delivery of health care.
According to research, rising sales of wearable technologies have coincided with high spending on digital healthcare infrastructure. Additionally, the telehealth software market may experience expansion due to the integration and advancement of digital health technologies like the Internet of Things (IoT), augmented and virtual reality (AR/VR), artificial intelligence (AI), and more.
Key Takeaways of Telehealth Software Market Study
- Cloud-based segment expected to capture around 45% of market share in 2020
- Healthcare providers are dominating the market with the market share of 85% in 2019, owing to the growing adoption of real-time communication solutions and increased adoption of remote patient monitoring
- South Asia and Pacific is estimated to grow at a CAGR of 20% in the telehealth software market owing to the continuous investments in digitalizing healthcare infrastructure
COVID-19 Impact Analysis on Telehealth Software Market
The COVID-19 epidemic made it clear that companies needed to immediately adopt remote working solutions, driving them to alter their technical environment to ensure business continuity during the pandemic. As a result, it highlighted how urgently the healthcare industry needs to incorporate digital technologies. Healthcare providers are working on installing and upgrading telehealth software and solutions to improve their capacity to care for a significant surge in patients as the COVID-19 pandemic develops.
The adoption of telehealth software and solutions is helping healthcare providers and payers in avoiding unnecessary visits to healthcare facilities, thus, reducing the exposure to the coronavirus and also in keeping those on the frontlines safe. In addition to this, the demand for cloud-based telehealth software is expected to surge as the demand for real-time communication and remote monitoring is set to increase in coming years.
The telehealth software market grew around 13% Y-o-Y in 2018 and 2019 and with the outbreak of COVID-19, the market is expected to witness a growth rate of around 18%-20% during 2021-2023. Moreover, the telehealth software market is projected to increase 1.4x between 2020 and 2022, owing to the outbreak of COVID-19.
Ask an Analyst @
https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-7349
Competition Landscape Driving Growth through Innovation
Ongoing technological revolution, intense competition, and ever-changing customer expectations are creating a storm in the global telehealth software market, which is compelling solution providers to integrate smart technologies such as AI, IoT, Block chain, and AR/VR. Moreover, collaborations and partnerships with IT solution providers can also help telehealth software solution providers to enhance their market share and customer base.
For instance, in October 2019, American Well and Cleveland Clinic entered into the partnership to offer customers with broad access to healthcare services via telehealth. Together, both the organization formed a joint venture company “The Clinic” which offers the virtual care through American Well’s digital health technology platform.
Some of the key players in the telehealth software market are Aerotel Medical Systems Ltd., Koninklijke Philips N.V., Teladoc Inc., American Well, Chiron Health, Medtronic, Honeywell International, Tunstall Healthcare, AMD Global Telemedicine, Inc., Cisco Systems, Inc., and Medvivo Group Ltd.
Telehealth Software Market Outlook by Category
By Component, Telehealth Software Demand is segmented as:
- Software
- Services
By Deployment, Telehealth Software Outlook is segmented as:
- Cloud-based
- On-Premises
By End User, Telehealth Software Outlook is segmented as:
- Healthcare providers
- Healthcare payers and Patients
By Region, Telehealth Software Sales is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Request for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-7349
Read Related Reports:
https://degentevakana.com/blogs/view/103304
https://degentevakana.com/blogs/view/103305
https://derpyshare.mn.co/posts/26768633
https://derpyshare.mn.co/posts/26769175
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/telehealth-software-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs