The introduction of remote healthcare services to offer accessible and affordable medical assistance to all patients across the world is one of the primary factors attributing to the growth of the US telehealth market. Telehealth and telemedicine are interchangeably used in the healthcare industry and these services help in offering communication, diagnosis, treatment and patient monitoring in the US market.
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This market research report on US telehealth market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by modality (mHealth, remote patient monitoring, and virtual health), by component (services, hardware, and software), and by end-users (healthcare providers, patient and individuals, employer and government organizations, and payers).
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The use of these medical services will allow healthcare specialists and care providers to use innovative technologies, such as mobile phone applications, website monitoring applications, wearable devices, and video conferencing to remotely connect to patients in the US market. The focus on integrating telecommunication services will help to reduce the cost of healthcare services and improve patient care systems across the US market.
The introduction of low-powered network systems and medical sensors that are merged with a wireless network will revolutionize the US market over the next few years.
Real-time tracking and monitoring will allow doctors to use blood pressure monitoring, glucose monitoring, and other vital signs monitoring services remotely in the US market. The increasing awareness for self-management of diseases will promote the adoption of these innovative services in the US market.
Furthermore, the introduction of remote patient monitoring devices, smart gadgets, and virtual visits will boost revenues in the US telehealth market during the forecast period.
The US telehealth market by modality is segmented into mHealth, remote patient monitoring, and virtual health. mHealth occupied more than half of the market share in 2017, growing at a CAGR of around 33% during the forecast period.
The growing preference of homecare and self-care medical devicesis one of the primary factors attributing to the growth of the mHealth segment in the US market.
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The increasing penetration of smart gadgets and next-generation connected devices such as smart glucose monitors, ECG trackers, and heart rate trackers will boost the demand for these services in the US market. The increasing focus on disease management, fitness, continuous health monitoring, and wellness is promoting the use of sophisticated mHealth applications in the US market.
Leading medical companies are combining personal devices with advanced technology for personalized care management to offer superior patient care and gain larger market share in the US market. Moreover, the establishment of value-based reimbursement reforms is helping in reducing cost and improving healthcare outcomes and promoting the use of mHealth applications in the US market.
The launch of health call centers, emergency toll-free telephone services, disaster management, patient records, and health surveys will augment the evolution of the mHealth segment in the US telehealth market during the forecast period.
Key Vendor Analysis:
The US telehealth market is highly dynamic and fragmented with the presence of several medical device manufacturers, software or app providers, and healthcare service providers. The rapid technological advancement is encouraging vendors to introduce platforms with innovative and advanced features to meet the growing customer demands in the US market.
The leading healthcare companies are investing in R&D to integrate hardware and software to improvise remote healthcare services to end-users and gain a larger US market share. Top service providers are offering wearable and connected medical devices compatible with telemedicine platforms to sustain the competition in the US market.
The players are leveraging strategic marketing and distribution policies to attract new consumers to the US telehealth market.
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The major vendors in the US market are:
- AMD Global Telemedicine
- American Well
- GlobalMedia Group
- Honeywell Life Care Solutions
- Philips Healthcare
The other prominent players in the US telehealth market are A&D Company, Abbott, AgaMatrix, AirStrip Technologies, AliveCor, AT & T, Athenahealth, Biotricity, BIOTRONIK, Boston Scientific, Carena, Celtic Healthcare, CHI Health, edgeMED Healthcare, eVisit, GE Healthcare, iHealth Lab, IMDSOFT, INOVA, Integrity Urgent Care, InTouch health, iSelectMD, Jawbone, Masimo, MDLIVE, MedSpring, MeMD, Mercy Virtual, meVisit, OMRON Healthcare, PlushCare, Qualcomm Life, Ringadoc/MedXCom, Spacelabs Healthcare, Specialists on Call, THA Group, Vidyo, Virtuwell, VSee, and Zipnosis
Key market insights include:
- The analysis of US telehealth market provides market size and growth rate for the forecast period 2018-2023.
- It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the US telehealth market.
- The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
- It offers a complete overview of market segments and the regional outlook of US telehealth market.
- The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.