LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global telehealth market to grow at a CAGR of over 25% during the forecast period, according to their latest market research report.
The increasing adoption of mHealth is one of the major trends being witnessed in the global telehealth market 2018-2022 mHealth is a medical and public health practice supported by smartphones and the mobile devices that include patient monitoring devices and personal digital assistants. mHealth is increasingly being used by individuals to acquire knowledge about preventive health care services. It is also used to monitor medical conditions for disease surveillance, treatment support, and chronic disease management.
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According to Technavio analysts, one of the key factors contributing to the growth of the global telehealth market is the prevalence of chronic illnesses:
Global telehealth market: Prevalence of chronic illnesses
There is an increased prevalence of chronic illnesses due to poor lifestyle choices including smoking, over-consumption of alcohol, food habits, lack of physical activity, and chronic stress. Some of the prevalent chronic diseases are asthma, cardiac failure, diabetes, cancer, and obesity. According to CDC, in 2017, 30.3 million US adults were suffering from diabetes with the disease being the leading cause of kidney failure, lower limb amputations, and adult-onset blindness.
According to a senior analyst at Technavio, “Patients with chronic illnesses are increasingly using telehealth products and services like glucose monitors, video communications, and store-and-forward consultations to manage their health conditions. Telehealth products and services enable continuous monitoring and thereby reduce the need for multiple visits to hospitals.”
Global telehealth market: Segmentation analysis
The global telehealth market research report provides market segmentation by component (services, software, and hardware) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 42% share. It was followed by EMEA and APAC respectively. The growth of the market in the region can be attributed to the presence of a large number of vendors in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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