Distance Health Technologies Market Size, Growth Factors, Opportunities, Ongoing Trends and Key Players 2032
The distance health technologies market size is anticipated to grow at a rate of 27% CAGR from 2022 to 2032, surpassing USD 945 billion from USD 88 billion.
The hi-tech technologies has witness plethora of advances in medical science and the emergence of distance health technologies is been one of the greatest accomplishments by medical science coupled with worldwide networking technologies.
Distance health technologies or telehealth allows the expansion of reach of medical professionals to patients far across the globe, removing the geographical barriers. According to American Hospital Association’s report, 65% of hospitals connect to their patients using distance health technologies to provide right care at the right time in the U.S.
Moreover, about 90% of healthcare executive have reported to adopt the distance health technologies in 2018 which is an increase by 19 folds compared to 2013. The total patient distance health technologies user account for about 7 million Americans.
The primary platform for distance health technologies is internet and connectivity technologies. Exponential increasing utilization of internet for communication through widespread presence of smartphones, personal computers and internet service are the main contributors to the development of distance health technologies.
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Distance health technologies plays a vital for the disabled, physically challenged and infectious patients to connect with the healthcare provider.
Distance Health Technologies Market: Drivers and Restraints
The distance health technologies are driven by the prompt availability of the internet and integration of the smartphone technologies in the daily lives of the users. It has been reported that approximately three fourth of the American population have broadband service and 80% Americans own and use smartphones.
The distance health technologies are increasingly finding applications for physically challenged and potentially infection carriers as more of them are adopting the technology for right medical care. Additionally, the distance health technologies market is predicted to boost owing the continuous access, easy communication from home and good quality care available on fingertips for the patients and healthcare providers.
The reduced healthcare cost by telehealth is anticipated to drive the distance health technologies market as well. The distance health technologies allow medical consultation at a cheaper cost that the actual visit and also saves the travelling expenditure.
Time saving is another benefit of using distance health technologies. However, the consultation through distance health technologies can be considered clinically inappropriate causing a restraint for the market. Tricky policies and reimbursement rules create an obstacle in the expansion of global distance health technologies market.
Potential viruses and cyber threats pose a risk for privacy and security, restricting the expansion of distance health technologies market to an extent.
Distance Health Technologies Market: Overview
The global market for distance health technologies is expected to experience exponential growth due to improving communication technology and increasing adoption by end users. Among end users, hybrid cloud approach is expected to grow with highest CAGR in the distance health technologies market over the forecast period owing to the added benefits of security, privacy and cost-effectiveness.
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Hospital segment in end users is expected to generate maximum revenue due to increasing adoption of the distance health technologies during the forecast years. Due to improving networking technologies and increasing adoption by end users, distance health technologies are estimated to be fastest growing market from 2018 to 2028.
Distance Health Technologies Market: Regional Wise Outlook
Geographically, global distance health technologies market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). North America is expected to be the leader in global distance health technologies market due to better availability of resources and presence of advance networking technology.
The Asia Pacific excluding Japan distance health technologies market is expected to expand at moderate CAGR due to slow adoption of the technology. Europe is expected to take second largest share in the global distance health technologies market throughout the forecast period owing to increasing utilization of internet services for healthcare reasons.
MEA distance health technologies market is expected to witness below average growth due to lack of technological reach.
Distance Health Technologies Market: Key Players
Some of the major players identified in the global distance health technologies market are Cisco Systems, Accenture, PwC, Walgreens Boots Alliance, Inc. (TytoCare Ltd.), Koninklijke Philips N.V., Medtronic plc, InTouch Health, Care Innovations, GlobalMedia Group, LLC and Aerotel Ltd among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The report covers exhaustive analysis on
- Distance Health Technologies Market Segments
- Distance Health Technologies Market Dynamics
- Distance Health Technologies Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
- Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, Rest Of MEA)
Distance Health Technologies Market: Segmentation
Tentatively, the global distance health technologies market has been segmented on the basis of deployment mode, end user, and geography.
Based on deployment mode, global distance health technologies market is divided into following:
- Web-Based
- On-Premises
- Off-Premises
- Hybrid Cloud
Based on end users, global distance health technologies market is divided into following:
- Hospitals
- Clinics
- Clinical Management Systems
- Others
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