Telehealth Global Market Scenario
To provide global telehealth market size, market share, trends, growth, business overview, and future industry outlook in order to use this information for a new market strategy.
Telehealth Market Size: Global
- In 2018, the global telehealth market size was $49.8 billion and is expected to hit $266.8 billion by 2026 at a CAGR of 23.4% during the forecast period (2018-2026).
- The North American telehealth market was the dominant region globally with estimated market size of around $21.2 billion in 2018.
- In 2019, the market size of the US telehealth segment is estimated to be $2.4 billion. The US telehealth market grew at a rate of 7.1% in 2019.
- The factors bolstering the growth of the global telehealth market include rising prevalence of chronic diseases, low availability of healthcare professionals globally, and increasing geriatric population.
Proposed next steps:
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We recommend the following: (1) Provide the latest market size of the global telehealth market (preferably for 2019). This might require triangulation. (2) Provide the current (2019) and predicted growth rate of the global telehealth market. (3) Since we identified the market size of the North American telehealth industry in this background research, we recommend identifying the telehealth market sizes of other key regions namely, Asia-Pacific, Europe, Middle East and Africa (MEA) each. (4) Provide 3-5 current trends in the global telehealth market. For each identified trend, we would provide a description of the trend and how/why it is impacting the market. (5) Provide 3-5 insights on the challenges/issues/growth factors related to the future global telehealth market.
Alternatively, we can provide only: (1) the latest market size and growth of the global telehealth market (preferably for 2019). This might require triangulation. (2) 3-5 current trends in the global telehealth market. For each identified trend, we would provide a description of the trend and how/why it is impacting the market.
Additionally, we recommend providing 3-5 current trends in the biotech market. The research focus would be global.