Telehealth Market 2021 Share, Size, Industry Analysis, Worldwide Growth, Trends and Forecast

A Story by nita

The global telehealth market is slated to reach USD 266.8 billion 2026, exhibiting a CAGR of 23.4% during the forecast period. One of the main drivers of this is the high prevalence of stark inequalities in rural healthcare, especially in developing and underdeveloped countries where majority of the population lives in villages. For example, the World Health Organization Health Report 2018 states that in 2015, 303,000 women died across the world due to poor pre and post- natal healthcare.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/telehealth-market-101065

Fortune Business Insights profiles some of the important participants in the telehealth market:

Dictum Health, Inc.
SnapMD, Inc.
American Well
MDLIVE Inc.
GlobalMed
Doctor on Demand, Inc.
Encounter Telehealth
Teledoc Health, Inc.

More importantly, 99% of these deaths occurred in low and middle-income countries; 64% of those happened in Sub-Saharan Africa. This situation is a result of low levels of socio-economic development, owing to which governments in these countries are unable to bring modern healthcare facilities to the rural poor. This is where telehealth services can come to the fore and many governments today are utilizing them to improve health of their citizens.

According to the report by Fortune Business Insights, titled “Telehealth Market Size, Share and Industry Analysis By Type (Products, Services), By Application (Telemedicine, Patient Monitoring, Continuous Medical Education, Others), By Modality (Store-and-forward (Asynchronous), Real-time (Synchronous), Remote Patient Monitoring), By End User (Healthcare Facilities, Homecare, Others), and Geography Forecast, 2019 �" 2026”, the value of this market in 2018 was USD 49.8 billion. The report further provides a detailed analysis of the factors that will play an influential role in the development of the Telehealth market. A comprehensive evaluation of the trends, dynamics, and industry outlook is also contained in the report.

Company Collaborations Are Proving Chief Growth Drivers

Due to the increasing demand, telehealth market companies are adopting collaborative strategies with the aim of expanding business on a global scale. Furthermore, leading companies in the telehealth industry are focusing on mergers and acquisitions to gain competitive strength. Companies are trying to incorporate modern industrial concepts with a view to gain more end users. Fortune Business Insights expects market collaborations will help companies generate substantial telehealth market revenue.

In April 2018, American Well acquired Avizia Limited with the aim of strengthening its position among the companies in the telehealth industry. American Well’s acquisition of Avizia will help the company take a big leap in the telehealth market, owing to the exceptional portfolio of telehealth services bolstered by Avizia. The report includes company mergers, similar to American Well’s latest acquisition and signifies the impact of such M&As on the global telehealth market.