Telehealth Market Analysis

By Deployment

On the basis of deployment, the telehealth market is bifurcated into on-premise and cloud-based segments. Out of these, the cloud-based segment for telehealth products and services is presently generating the highest demand on account of rising adoption of cloud-based services in the healthcare industry. The cloud-based segment is anticipated to capture a significantly high market size by the end of 2028 and is expected to grow at the highest rate at a CAGR of 17.45% over the forecast period.

By Component

Based on component, the market is segmented into hardware, software and services. The segment for services is predicted to hold the leading share in the market as telehealth services are commonly used as compared to the hardware and software. This can be attributed primarily to their ease of handling along with improved patient friendly features. The services segment is anticipated to hold the largest market value of USD 85,427.78 million by the end of 2028 on account of these factors. 

By Mode of Delivery

Based on the mode of delivery, the telehealth market is segmented into remote patient monitoring, telephone, video and others. On the basis of this segmentation, the video segment is anticipated to hold the leading share in the market on account of high demand for video-based telehealth products and services globally. Further, the segment is projected to grow at a significantly high CAGR of 17.52% over the forecast period.

By Application

Telehealth is gaining significant market growth on account of its large number of applications. According to the Centers for Disease Control and Prevention (CDC), an estimated 6 in 10 adults in the United States suffer from chronic diseases and around 4 out of 10 people have two or more such disorders. Based on applications, the market is segmented into radiology, cardiology, neurology, orthopedics, pediatrics, general physician applications and others. The segment for cardiology held the leading share in the market in 2019 and is estimated to continue to lead the market in the next few years. This can be attributed to the rise in cardiovascular disorders across the globe which is generating a high demand for frequent physician consultations and services such as cardiac telemetry for frequent monitoring.

By End User

On the basis of end user, the market is segmented into hospitals, clinics, diagnostic centers and others. The hospitals segment captured the largest market share with a value of USD 19,714.19 million in 2019 and it is anticipated to grow further by. The growth can be attributed to the high number of patients encountered by hospitals and large facilities in comparison to smaller facilities such as clinics. Further, on account of the increasing number of freestanding diagnostic centers offering comprehensive pathology & diagnostic imaging solutions which are not available at other healthcare facilities, the market is predicted to observe this growth.

Our in-depth analysis of the global market includes the following segments: