The U.S. TelehealthMarket size is expected to value at USD 2.8 billion by 2022. The industry is subject to witness a substantial growth due to the increasing need for modernization and centralization of healthcare administration and services, and growing demand for superior quality and safety of healthcare services. Moreover, increasing adoption of smart phones and internet by general population along with growing awareness about home care services are some of the critical factors driving the growth of the market over the forecast period. The U.S. telehealth market is predicted to grow at CAGR of 19.3% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.
Increasing
use of automation and centralization allows healthcare organization to
synchronize their services, thus helps in obtaining required benefits such as
superior performance and cost-effectiveness. These factors are expected to
drive the growth of U.S. telehealth industry over the forecast period.
Introduction of lean management and six sigma services for various business
operation provides resource optimization and improved efficiency, thereby
driving market demand for telehealth market in the recent years. As per
Community Care Plan of Eastern Carolina (CCP), early adoption of telehealth
program by the physicians and other healthcare professionals attracts more
customers on daily basis. Additionally, growing need for superior, economical
and faster healthcare services by patients are expected to drive market growth
in the upcoming years. Rising personal disposable income and growing healthcare
expenditure by local governments are anticipated fuel market growth in the near
future as well.
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In
addition, early adoption of telehealth services helps to enhance care delivery
given to patients, thereby positively influencing market demand for telehealth
services. Some of the common application of the telehealth services include
e-ICU and e-Care, which aids in providing necessary care for patients and
limiting any adverse effects. Additionally, use of the e-Care helps to identify
early symptoms diseases from going unnoticed. These factors are expected to
boost the growth of U.S. telehealth market over the forecast period. Presently,
development of advanced system involving chronic disease management along with
alarming systems, which allows detection and automatic reporting of critical
scenarios to concerned individual or healthcare providers are estimated to
expand market reach of U.S. telehealth industry in the upcoming years. Such
systems helps to limit overall mortality rate by offering high safety and
quality standards to patients. These factors are expected to foster market
demand for telehealth or telemedicine services.
The
U.S. telehealth industry is broadly categorized into three major types based on
product type such as software, hardware, and services-oriented products.
Software is considered as one of the fastest growing segment in the U.S.
telehealth market with substantial revenue generation in the last couple of
years. Hardware market segment has also witnessed significant growth in the
recent years as well. The hardware market segment is further divided into two
categorize such as monitors and medical peripheral devices.
Growing
popularity of the monitors sub-segment is attributed to recent advancement in
IT industry and development of the novel products. In addition, the hardware
market segment consists of various elements such as hand help electronic
devices, webcameras, audio speakers, microphones, display screen and
videoconferencing. The hardware products are usually graded and chosen as per
their unique traits such as video memory, general memory, network speed and
mailing feature, processor speed and display quality.
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Telehealth
commonly consists of a wide range of technologies and tactics in order to
provide virtual medical, health, and education services. Telehealth is
considered as a set of services that enhances overall patient care and
education delivery. Telemedicine or telehealth also involves conventional
clinical diagnosis and monitoring services, along with wide range of
highly-advanced diagnosis and management, education, and other related fields
of health care.
The
key players in the U.S. telehealth industry are Philips Healthcare N.V.,
McKesson Co., Intel, Inc., International Business Machines (IBM) Co., GE
Healthcare, Inc., AMD Telemedicine, and Bosch Healthcare Solutions GmbH.
Market
Segment:
U.S.
Telehealth Product Outlook (Revenue, USD Million, 2012 - 2022)
• Hardware
• Monitors
• Medical peripheral devices
• Blood pressure meters
• Blood glucose meters
• Weighing scales
• Pulse oximeters
• Peak flow meters
• ECG monitors
• Others
• Software
• Standalone software
• Integrated software
• Services
• Remote patient
monitoring
• Real-time
interactions
• Store and Forward
• Other services
U.S.
Telehealth Delivery Mode Outlook (Revenue, USD Million, 2012 - 2022)
• Web-based
• Cloud-based
• On-premise based
U.S.
Telehealth End-use Outlook (Revenue, USD Million, 2012 - 2022)
• Providers
• Payers
• Others
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