Global Telehealth Market 2020-2024 | Evolving Opportunities with American Well Corp. and Cisco Systems Inc. | Technavio
The global telehealth market is poised to grow by USD 95.72 billion during 2020-2024, progressing at a CAGR of over 25% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Telehealth Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Telehealth Market Analysis Report by Product (Services and Solutions), Geography (North America, Europe, Asia, and ROW), and the Segment Forecasts, 2020-2024".
The market is driven by the increasing demand for remote patient monitoring. In addition, the growing number of M&As is anticipated to boost the growth of the telehealth market.
The rising need for better access to healthcare, increasing patient engagement, improving the quality of patient care, and enhancing patient satisfaction are factors leading to the increasing adoption of remote patient monitoring (RPM) across the world. This is increasing the use of connected health tools such as mobile applications and wearable devices to offer quality and value-based services to patients. Vendors are also increasing their focus on improving their telehealth services to enable the adoption of RPM. For instance, in October 2017, Medtronic collaborated with American Well to offer a complete telehealth solution to provide care to patients with chronic and co-morbid disease conditions. Hence, the rising demand for RPM is expected to fuel the growth of the global telehealth market during the forecast period.
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Major Five Telehealth Market Companies:
American Well Corp.
American Well Corp. operates its business through segments such as Telehealth Solutions and Telemedicine Equipment. The company offers telehealth solutions for multiple applications, including urgent care, pediatrics, telestroke, population health management, telepsychiatry, and chronic disease management.
Cisco Systems Inc. operates its business through segments such as Infrastructure Platforms, Services, Applications, Security, and Other Products. The company offers telehealth and collaboration solutions to enable clinicians to communicate with patients and other clinicians, increase patient engagement, and simplify communications management.
Doctor On Demand Inc.
Doctor On Demand Inc. operates its business through segments such as Employers and Health Plans. The company offers fully integrated telehealth solutions that allow health plans and employers to deliver primary care coverage virtually.
Enghouse Systems Ltd. operates its business through segments such as Interactive Management Group and Asset Management Group. VidyoCloud is the key offering of the company. It is designed to provide at-home care, ambulatory care, urgent/emergent care, acute care, and post-acute care.
General Electric Co.
General Electric Co. operates its business through segments such as Power, Renewable energy, Oil and gas, Aviation, Healthcare, Transportation, and Lighting. Telehealth services, Patient monitors, CARESCAPE Enterprise Access, and Virtual rounds are the key offerings of the company.
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Telehealth Market Product Outlook (Revenue, USD Billion, 2020-2024)
Telehealth Market Regional Outlook (Revenue, USD Billion, 2020-2024)
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