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Telehealth Market

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Telehealth helps in improving relationship between patients and healthcare provider for enhanced patient care and satisfaction.
Telehealth Market - Industry Trends, Analysis
And Growth By 2026
According to the 2017 U.S. Telemedicine Industry Benchmark Survey conducted among
healthcare executives, physicians, nurses, and other healthcare professionals throughout the
U.S., it was observed that over half of survey participants noted telemedicine as a top priority
or high priority service in their respective organizations. Moreover, study findings also show
that telemedicine continues to evolve from a specialty service to a mainstream service.
Telehealth is a telecommunication technology, which is also referred to as e-Health or
telemedicine. It enables healthcare professionals to evaluate, diagnose, and treat patients in
remote locations. According to the 2016 E-health and Telemedicine report by the U.S.
Department of Health and Human Services, it revealed that 59 million Americans are living in
Health Professional Shortage Area (HPSAs)-rural and urban areas with shortages of primary care
providers.
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Telehealth helps in improving relationship between patients and healthcare provider for
enhanced patient care and satisfaction. Telehealth provides medical expertise in quick and
convenient manner, and at reduced cost. Using telehealth, healthcare professionals can advise
patients at their homes and workplaces. Physicians can also treat their patients from hospitals,
medical facilities or from other places of work including their own homes or even during
vacation as long as they are connected through the Internet.
Report includes chapters which deeply display the following deliverable about industry :
• Telehealth Market Research Objective and Assumption
• Telehealth Market Purview - Report Description, Executive Summary, and Coherent
Opportunity Map (COM)
• Telehealth Market Dynamics, Regulations, and Trends Analysis - Market Dynamics, Regulatory
Scenario, Industry Trend, Merger and Acquisitions, New system Launch/Approvals, Value Chain
Analysis, Porter’s Analysis, and PEST Analysis
• Global Telehealth Market, By Regions
• Telehealth Market Competition by Manufacturers including Production, Share, Revenue,
Average Price, Manufacturing Base Distribution, Sales Area and Product Type.
• Telehealth Market Manufacturers Profiles/Analysis including Company Basic Information,
Manufacturing Base and Its Competitors.
• Telehealth Market Manufacturing Cost Analysis including Key Raw Materials and Key Suppliers
of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials
Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market
Positioning and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer
Preference Change and Economic/Political Environmental Change.
• Telehealth Market Forecast including Production, Consumption, Import and Export Forecast by
Type, Applications and Region.
• Research Findings and Conclusion
Increasing number of geriatric population, higher incidences of non-communicable disease such
as cardiovascular disease, metabolic disorders, Alzheimer’s disease, cancer, diabetics, and other
mental health problems which require prolonged treatment would aid in growth of the
telehealth market in near future. The nature of most non-communicable disease (NCDs) requires
well-integrated healthcare system to treat chronic healthcare conditions. Moreover the challenges
faced to meet required healthcare professionals, financial and infrastructure resources further
can be addressed effectively through telehealth market. The 2016 Physician Supply and Demand
Report, released by Association of American Medical College (AAMC), projects the significant
physician shortfall in the U.S. between 2014 and 2025, in the range of 61,700 to 94,700.
Increasing prevalence of chronic disease with rising healthcare expenditures and high adoption
of health IT infrastructure to support telehealth initiatives are also expected to further boost
growth of the telehealth market. Veterans Health Administration (VHA) - the largest integrated
health care system in the U.S. uses multiple types of telehealth interventions, which provides
both routine and targeted care management services. The 2017 finding from Centers for
Medicare and Medicaid Services (CMS), stated that telehealth and telemedicine payments
increased by 28% and claims increased by 33% in 2016, over the year 2015.
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However, lack of trained professionals in remote areas, privacy and information security
concerns, and low availability of telecommunication bandwidth are the major factors adversely
affecting growth of the telehealth market.
According to the 2016 Broadband Progress Report from Federal Communications Commission,
around 40% of rural Americans still lack access to broadband Internet. Furthermore, according
to the 5G Readiness Survey 2017, by Ericsson AB, 78% respondents of IT decision makers from
all major verticals including healthcare have accelerated their plans to incorporate 5G into their
IT infrastructure.
Increased adaptation of telehealth will significantly decrease the dependency on hospitals, and
enable accessibility to proper healthcare services from home. A report published in March 2017,
by NTCA-The Rural Broadband Association stated that, telemedicine could save thousand dollars
per year in healthcare and community costs, thereby, reducing significant cost spent on
transportation, medical facility, labor wages, and lab cost.
Government initiatives aid in boosting growth of the telehealth market
The new CONNECT (Creating Opportunities Now for Necessary and Effective Care Technologies)
for Health Act, introduced in June 2017, will promote cost savings and improve quality care in
Medicare through telehealth and remote patient monitoring, in the U.S. The new act will
provide efficient healthcare services to Medicare beneficiaries through telemedicine and remote
patient monitoring (RPM). In addition, the act permits the use of remote patient monitoring for
patients suffering with chronic conditions. In 2017, Southwest Telehealth Resource Center
(SWTRC), received US$ 975,000 cooperative agreement grant from the Federal Office for the
Advancement of Telehealth (OAT). Such grants will help in adoption of telehealth programs in
hospitals, clinic, and public health offices in the underserved areas in the U.S.
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Key players in the telehealth market
Some of the key players operating in the telehealth market include Koninklijke Philips N.V.,
Medtronic plc, Tunstall Healthcare Group Ltd, McKesson Corporation, Medvivo Group Ltd.,
AMD Global Telemedicine, Inc., Vidyo, Inc., Cisco Systems, Inc., Care Innovations, LLC,
Honeywell Life Care Solutions, and General Electric Company.
About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering actionready syndicated research reports, custom market analysis, consulting services, and competitive
analysis through various recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.
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Author
Alex Huge
Alex Huge339   documents Email
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Health and Medicine
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