Dublin, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The "U.S. Telehealth Market Size, Share & Trends Analysis Report By Product Type (Hardware, Software, Services), By Delivery Mode (Web-based, Cloud-based, On-premises), By End-use (Payers, Patients), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
U.S. Telehealth Industry Set to Skyrocket, Projected to Reach USD 150.1 Billion by 2030
The landscape of healthcare is undergoing a transformative shift in the U.S., with the telehealth market projected to surge to a staggering USD 150.1 billion by 2030, boasting a remarkable compound annual growth rate (CAGR) of 22.9% from 2023 to 2030. This seismic growth is driven by a confluence of pivotal factors that are revolutionizing the industry.
A Confluence of Catalysts Fueling U.S. Telehealth Expansion
Central to this transformative journey is the resounding embrace of digital health services by patients and healthcare providers alike. This burgeoning adoption is magnified by a receptive consumer base and substantial investments that are propelling the telehealth sector to unparalleled heights. Moreover, the surging demand for remote patient monitoring coupled with dynamic advancements in digital communication technology is poised to catalyze the market's meteoric rise in the imminent years.
Addressing the Physician Shortage Dilemma Through Telehealth
Beyond the technological drive, the U.S. telehealth industry is stepping into the forefront as a potent solution to address a pressing issue – the scarcity of physicians and clinicians. A notable report by the Association of American Medical Colleges underscores an impending deficit of 37,800 to 124,000 physicians by 2034, spanning primary care and specialty. As this imminent gap looms, telehealth emerges as a beacon of hope to bridge the healthcare chasm.
Pandemic-Induced Paradigm Shift: Telehealth's Meteoric Ascent
Inarguably, the tumultuous waves of the COVID-19 pandemic dramatically reshaped the healthcare landscape. The implementation of social distancing measures during the pandemic's height catapulted telehealth into the spotlight. The Centers for Disease Control and Prevention (CDC) documented an astounding 154% surge in telehealth visits in March 2020 compared to the same month in the preceding year, March 2019. This transformative shift ignited the industry's growth trajectory, sparking a radical change in patient-provider interactions.
Empowering Patient Savings and Healthcare Efficiency
Telehealth emerges as a dual-powered solution, heralding both economic benefits and enhanced healthcare delivery. The widespread adoption of virtual care engenders substantial cost savings for patients and healthcare systems alike. By circumventing the need for physical visits and associated expenses, such as travel and facility fees, telehealth remarkably curtails healthcare expenditures. A noteworthy study by Cigna unveiled an approximate cost reduction of USD 100 per visit through virtual care, highlighting its potential economic advantages.
Efficiency Unleashed: Streamlined Processes and Remote Monitoring
Beyond fiscal advantages, telehealth unleashes operational efficiency by curtailing wait times, optimizing appointment scheduling, and streamlining administrative operations. The crux of telehealth's prowess lies in the domain of remote patient monitoring – a sought-after service facilitating real-time interactions between patients and physicians. This intelligent integration of technology engenders a symbiotic relationship, resulting in improved clinical outcomes and elevating patient care to unprecedented levels.
Future-Proofing Healthcare Infrastructure for Telehealth Revolution
The impending surge in telehealth's prominence is triggering a profound transformation across healthcare organizations. Adapting to this revolutionary shift, healthcare entities are steadfastly reinforcing their infrastructure with a multifaceted approach. The strategic enhancement encompasses bolstering IT frameworks, integrating cutting-edge hardware and software, harnessing the power of Internet of Things (IoT) capabilities, deploying scalable designs, mastering data management, and ensuring patient security.
As the tapestry of healthcare is rewoven with the threads of innovation and connectivity, the U.S. telehealth industry stands poised to redefine the patient-provider relationship and reshape the healthcare landscape for generations to come. The convergence of technology, patient needs, and healthcare innovation is fostering an era where healthcare knows no bounds – it transcends distances and brings care to the fingertips of those who need it most.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $29.6 billion |
| Forecasted Market Value (USD) by 2030 | $150.1 billion |
| Compound Annual Growth Rate | 22.9% |
| Regions Covered | United States |
U.S. Telehealth Market Report Highlights
- The market growth can be attributed to the favorable consumer base, well-equipped digital health infrastructure, and increasing awareness regarding telehealth
- On the basis of product type, the services segment dominated the market in 2022 owing to the growing preference for telehealth applications in chronic disease management and real-time patient monitoring
- Based on delivery mode, the web-based segment led the market in 2022 owing to the increasing use of the web-based platform for telehealth and the availability of a large number of web-based telehealth solutions
- The providers end-use segment dominated the market in 2022 owing to the increasing number of providers in the U.S. and the rising adoption of telehealth platforms by providers to reduce the burden on healthcare facilities
Company Profiles
- Koninklijke Philips N.V
- GE Healthcare
- Cerner
- Siemens Healthineers
- Medtronic
- Teladoc Health Inc.
- American Well
- MD Live
- Doctor in Demand
- U.S. Med
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Information Procurement
1.1.1. Purchased database:
1.1.1.1. The internal database
1.1.2. Market Formulation & Validation
1.2. Research Methodology
1.3. Research Scope and Assumptions
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
2.4. U.S. Telehealth Market Snapshot
Chapter 3. U.S. Telehealth Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Challenge
3.3. U.S. Telehealth Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.2. PESTEL Analysis
3.4. Impact of COVID 19 on U.S. Telehealth Market
Chapter 4. U.S. Telehealth Market: Product Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. U.S. Telehealth Market: Product Type Movement Analysis, USD Million, 2022 & 2030
4.2.1. Hardware
4.2.1.1. Hardware Market Estimates And Forecasts, 2018 - 2030 (USD Million)
4.2.1.1.1. Monitor
4.2.1.1.2. Medical Peripheral Devices
4.2.1.1.2.1. Medical Peripheral Devices Market Estimates And Forecasts, 2018 - 2030 (USD Million)
4.2.1.1.2.2. Blood Pressure Meters
4.2.1.1.2.3. Blood Glucose Meters
4.2.1.1.2.4. Weighing Scales
4.2.1.1.2.5. Pulse Oximeter
4.2.1.1.2.6. Peak Flow Meters
4.2.1.1.2.7. ECG Monitors
4.2.2. Software
4.2.2.1. Software Market Estimates And Forecasts, 2018 - 2030 (USD Million)
4.2.2.1.1. Standalone Software
4.2.2.1.2. Integrated Software
4.2.3. Services
4.2.3.1. Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
4.2.3.1.1. Remote Patient Monitoring
4.2.3.1.2. Real-time Interactions
4.2.3.1.3. Store and Forward
Chapter 5. U.S. Telehealth Market: Delivery Mode Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. U.S. Telehealth Market: Delivery Mode Movement Analysis, USD Million, 2022 & 2030
5.2.1. Web-based
5.2.2. Cloud-based
5.2.3. On-premises
Chapter 6. U.S. Telehealth Market: End Use Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. U.S. Telehealth Market: End Use Movement Analysis, USD Million, 2022 & 2030
6.2.1. Providers
6.2.2. Payers
6.2.3. Patients
Chapter 7. Competitive Landscape
7.1. Company Categorization
7.2. Key Company Market Position Analysis
7.3. Key Company Market Share Analysis
7.4. Recent Development and Impact Analysis, by key Market Participants
For more information about this report visit https://www.researchandmarkets.com/r/7pam88
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