Global Telehealth Market to Be Worth $25.3 Billion By 2022, Netscribes Says
The global telehealth market is estimated to grow at a compound annual growth rate (CAGR) of 14 percent and will be worth $25.30 billion by 2022, according to a recent study by Netscribes.
The significant drivers contributing to the growth in the telehealth market include the emergence of mobile health hubs, advancement of healthcare technology and infrastructure, and expected growth in wearable technology.
Key challenges remain, however, as high installation charges of telehealth devices, lack of reimbursement policies, problems in practice regulations, and awareness of the technology continue to weigh on the sector.
Other key challenge, such as low Internet penetration and lack of healthcare technology and infrastructure, likely will play a significant role in restricting the expansion of global telehealth solutions.
Key highlights from the report include:
North America is expected to hold the largest market share throughout the forecasted period (2017-2022), while the Asia-Pacific region is expected to experience the highest growth.
Improvement of healthcare infrastructure is expected to attract more funding and investment and support growth of new technologies like telehealth services.
An increase in the aged population is driving the telehealth market in Europe. Germany contributes significantly owing to the availability of high-speed Internet, use of eHealth cards, and high mobile phone penetration.
(For more information, visit https://www.netscribes.com).