Global telehealth market is booming, with many providers and consumers benefiting from its benefits. With the rise in social distancing and a growing population, telehealth is becoming an indispensable tool for fighting the COVID-19 pandemic. Most virtual visit service providers are demonstrating a phenomenal rise in subscribers and users. Teladoc Health Inc. recently reported a 60% growth in virtual consultations, with two million sessions completed in three months.
The global market is segmented according to modality, deployment mode, application, and end-user. During the forecast period, the market is expected to grow at similar pace. The UK is a major revenue generator in Europe, as is Germany. Other key revenue-generating countries include France, Italy, Spain, the Netherlands, and the UK. Favorable government policies and changing socio-economic conditions are driving the market in these regions.
The Global Telehealth market is expected to be worth USD 62.4 billion in 2021, and is projected to grow at a 36.5% CAGR over the next seven years. Technological developments in the smartphone space and an increased focus on global connectivity have led to an increase in telehealth services. In addition, the COVID-19 pandemic has increased demand for telehealth services, resulting in the transition of traditional healthcare strategies to the digital age.
The report also outlines the key regional trends and growth prospects for the global telehealth market over the forecast period.
The study includes an analysis of the market in North America, Europe, the Middle East & Africa, and South Asia Pacific. It also examines the market for telehealth software by country and by target segment. The report covers the market size for telehealth software and services in these regions. Further, the report details the competitive landscape for telehealth software.
The Global Telehealth Market is projected to grow at a 19.1% CAGR during the forecast period. The report includes comprehensive profiles of the major vendors operating in the global telemedicine market. It also provides market trends and analysis of the vendors operating in the global telemedicine market. The report also highlights the key drivers and regional dynamics affecting the market. The report also identifies key players in the industry. With this in mind, the report is expected to be a valuable source of information for companies involved in the field.