Global telehealth market to reach $6.5B value by 2020: 5 things to know

The global telehealth market is expected to grow rapidly within the next five years, according to a Markets and Markets report. 

Here are five things to know about the market.

1. The global telehealth market was valued at $2.2 billion in 2015.

2. The market is expected to grow at a compound annual growth rate of 24.2 percent, which means the market is projected to be worth $6.5 billion by 2020.

3. Major factors driving growth in the market include the aging population, physician shortage, rising healthcare costs, improvement in telecommunication infrastructure and increasing awareness.

4. This year, North America is expected to have the largest market share, followed by Europe and Asia-Pacific. The Asia-Pacific market is the fastest growing segment.

5. Key players in the telehealth market include:

• Cerner
• Cisco Systems
• GE Healthcare
• Honeywell Life Care Solutions
• McKesson
• Medvivo Group
• Philips Healthcare
• Robert Bosch Healthcare
• Siemens Healthcare
• Tunstall Healthcare

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars