The
global telehealth market is poised to grow by USD 95.72
billion during 2020-2024, progressing at a CAGR of over 25% during the forecast
period.
The market is driven by the increasing demand for remote patient
monitoring. In addition, the growing number of M&As is anticipated to boost
the growth of the telehealth market.
The rising need for better access to healthcare, increasing patient
engagement, improving the quality of patient care, and enhancing patient
satisfaction are factors leading to the increasing adoption of remote patient
monitoring (RPM) across the world. This is increasing the use of connected
health tools such as mobile applications and wearable devices to offer quality
and value-based services to patients. Vendors are also increasing their focus
on improving their telehealth services to enable the adoption of RPM. For
instance, in October 2017, Medtronic collaborated with American Well to offer a
complete telehealth solution to provide care to patients with chronic and
co-morbid disease conditions. Hence, the rising demand for RPM is expected to
fuel the growth of the global telehealth market during the forecast period.
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Major Five Telehealth Market Companies:
American Well Corp.
American Well Corp. operates its business through segments such as
Telehealth Solutions and Telemedicine Equipment. The company offers telehealth
solutions for multiple applications, including urgent care, pediatrics,
telestroke, population health management, telepsychiatry, and chronic disease
management.
Cisco Systems Inc.
Cisco Systems Inc. operates its business through segments such as
Infrastructure Platforms, Services, Applications, Security, and Other Products.
The company offers telehealth and collaboration solutions to enable clinicians
to communicate with patients and other clinicians, increase patient engagement,
and simplify communications management.
Doctor On Demand Inc.
Doctor On Demand Inc. operates its business through segments such as
Employers and Health Plans. The company offers fully integrated telehealth
solutions that allow health plans and employers to deliver primary care
coverage virtually.
Enghouse Systems Ltd.
Enghouse Systems Ltd. operates its business through segments such as
Interactive Management Group and Asset Management Group. VidyoCloud is the key
offering of the company. It is designed to provide at-home care, ambulatory
care, urgent/emergent care, acute care, and post-acute care.
General Electric Co.
General Electric Co. operates its business through segments such as
Power, Renewable energy, Oil and gas, Aviation, Healthcare, Transportation, and
Lighting. Telehealth services, Patient monitors, CARESCAPE Enterprise Access,
and Virtual rounds are the key offerings of the company.
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