Author: Vikas Kumar
23 December 2023
TheTelehealth Services Market refers to the sector of the healthcare industry that provides remote medical consultations, diagnoses, monitoring, and treatment through telecommunications technology. Telehealth services leverage various digital communication tools, such as video conferencing, mobile apps, secure messaging platforms, and remote monitoring devices, to connect healthcare professionals with patients who are not physically present in the same location. Telehealth services aim to improve access to healthcare by eliminating geographic barriers, reducing travel time and costs, and increasing convenience for patients.
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They enable individuals to consult with doctors, specialists, or other healthcare providers remotely, allowing them to receive medical advice, prescriptions, therapy, and follow-up care without the need for in-person visits. Preventive and population health initiatives have gained significant attention in recent years, driven by the recognition that proactive healthcare measures can prevent or manage chronic conditions, improve overall health outcomes, and reduce healthcare costs. Telehealth services play a crucial role in these initiatives by enabling remote monitoring, health education, and wellness programs. Patients can access preventive care resources, engage in virtual consultations, and receive guidance on lifestyle modifications through telehealth platforms. This emphasis on preventive and population health has been a driving force behind the growth of the telehealth services market in North America. Also, Recent developments in 2021 further exemplify the impact of these drivers on the telehealth services market in North America. In 2021, Retail giant Walmart expanded its telehealth services through its subsidiary, Walmart Health. Walmart Health launched its own telehealth platform, allowing patients to access virtual consultations with healthcare providers. This development aimed to provide more accessible and affordable healthcare options to customers across the United States. Furthermore, the increasing digital literacy and connectivity of the population have significantly contributed to the expansion of telehealth services. The widespread adoption of smartphones, tablets, and other digital devices, along with improved internet connectivity, has made it easier for individuals to access telehealth platforms and engage in virtual consultations. The growing comfort and familiarity with technology have led to increased acceptance of telehealth services among patients. Healthcare providers and telehealth companies have responded to this trend by developing user-friendly interfaces, mobile apps, and remote monitoring devices to enhance the telehealth experience and improve patient engagement.
Further, the North America Telehealth services Market is expected to grow at a strong CAGR of 5.0% during the forecast period (2022-2030). In summary, the focus on preventive and population health, combined with increasing digital literacy and connectivity, has fueled the growth of the telehealth services market in North America.
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Based on service, the market is segmented into remote patient monitoring, real-time interactions, video/ audio consultation, and others. Among them, the real-time interactions segment captured a significant share of the market in 2021 owing to widespread usage in chronic illness management, rising demand for real-time monitoring, developments in digital health infrastructure, rising number of mobile internet users, and rising demand to reduce rising healthcare costs.
Based on delivery mode, the market is bifurcated into web-based, cloud-based, and others. Among them, the web-based segment is expected to grow at a higher CAGR in the market. This is due to the availability of numerous virtual care applications and telehealth platforms on the internet. Users have direct access to care solutions via web-based platforms. The evolving smartphone sector, together with improved internet access in rural regions, is driving the segment’s expansion.
Global Telehealth Services Market Segmentation
Market Insight, by Service
Market Insights, by Delivery Mood
Market Insights, by End-Users
Market Insights, by Application
Market Insight, by Region
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