The global telehealth market accounted for $2.51 billion in 2016, and is projected to grow through the next five years, according to a Zion Market Research report.
Here are five things to know about the global telehealth market.
- The market is projected to reach $12.13 billion by 2022, growing at a compound annual growth rate of 30.1 percent between 2017 and 2022.
- When categorized by delivery type (for example, web-based, cloud-based or on-premise delivery), the market is dominated by web-based delivery. Cloud-based delivery is expected to see the fastest growth through 2022.
- North America has dominated the segment, accounting for 41.4 percent of the market. This trend is expected to continue through 2022, with Europe gaining the second largest share in the market.
- Two key market drivers are healthcare providers seeking new ways to ensure chronic disease patients receive appropriate prolonged treatment and seeking a method to address an imbalanced patient-to-clinician ratio.
- The main market barrier is limited reimbursement for healthcare providers.