Press release
Telehealth Transformation: Telehealth Market Metrics Illuminate Size, Trends, and Competitive Dynamics
Telehealth Market
The Business Research Company offers in-depth market insights through Telehealth Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The telehealth market size has grown exponentially in recent years. It will grow from $135.59 billion in 2023 to $175.3 billion in 2024 at a compound annual growth rate (CAGR) of 29.3%. The growth in the historic period can be attributed to strong emerging markets growth, increased spending on pets, supportive government initiatives, and increased penetration of pet insurance..
The telehealth market size is expected to see exponential growth in the next few years. It will grow to $445.8 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The growth in the forecast period can be attributed to the increasing pet ownership, the increasing consumption of animal-derived products, and the increasing urbanization. Major trends in the forecast period include focus on advanced technologies such as artificial intelligence, new facility expansions, partnerships and collaborations, and launch of new veterinary telehealth services to improve their financial strength and product portfolio..
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Market Segmentation:
The telehealth market covered in this report is segmented -
1) By Component: Software, Services, Hardware
2) By Mode Of Delivery: Cloud-based, On-Premise
3) By Application: Teleradiology, Telepathology, Teledermatology, Telecardiology, Others
4) By End-User: Healthcare Providers, Patients, Payers, Other End-Users
Major Driver - Telehealth Market Surges Amidst The Rising Tide Of Chronic Diseases
The rising prevalence of chronic diseases such as cancer, diabetes and hypertension is expected to be a major driver of the telehealth market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases and leave people suffering from these diseases more vulnerable to chronic diseases, thus driving the need for telehealth services platforms. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rise in the prevalence of chronic diseases is projected to propel the growth of the market.
Competitive Landscape:
Major companies operating in the telehealth market report are FirstVet, Whiskers Worldwide LLC, Airvet, BondVet, Fuzzy Pet Health, Petzam, PetDesk, WellHaven Pet Health, VetCT, TeleVet, Practo, VetFamily, Vettr, The Vet Connection, Homevet, China Animal Healthcare Ltd, Ceva Sant Animale, Merck/MSD Animal Health, Boehringer Ingelheim, VetPlanet, VetNOW, Vetster, Pawzy, PocketPills for Pets, VIC Animal Health, AVZ animal health, Provet Group, VitOMEK LCC, Micro-plus, Biowet, Bioveta, VELELEK, Delos Medica, Vetro Solutions, Belfarmacom, Pawp, GuardianVets, PetLove, Doctor Vet, Teleconsulta Veterinaria, Vetwork, Aster DM Healthcare, Sesneber International, GE Healthcare, Medtronic Saudi Arabia, Cisco Saudi Arabia Limited Company, Altibbi, Global Vet Ltd, Multivet Ghana Ltd
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Top Trend - Doctor On Demand And Grand Rounds Forge A Transformative Partnership In Virtual Healthcare
Healthcare service providers are collaborating and partnering with start-ups and other technology companies to broaden their services and offerings. In March 2021, Doctor On Demand, a virtual care provider, planned to merge with Grand Rounds, a leader in healthcare quality and navigation. The new integrated virtual care company will offer a unique proposition. These two platforms will offer a patient and provider a full suite of digital and interactive solutions. The new company will combine Grand Rounds' data-driven clinical navigation platform and patient advocacy tools with Doctor On Demand's preeminent virtual care offering.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Telehealth Market Characteristics
3. Telehealth Market Trends And Strategies
4. Telehealth Market - Macro Economic Scenario
5. Telehealth Market Size And Growth
…..
27. Telehealth Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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