Telehealth Market is Set to Experience Revolutionary Growth by 2028 | Transparency Market Research

Wilmington, Delaware, United States: According to Transparency Market Research’s latest report on the global telehealth market for the historical period 2017–2019 and forecast period 2021–2028, the global telehealth market is driven by increase in population, need to expand healthcare access, rise in cases of chronic diseases and conditions, shortage of physicians, advancements in telecommunications, government support, surge in awareness, and increase in technology adoption in the wake of COVID-19

Technology Adoption in Wake of COVID-19: Key Driver

Demand for healthcare services and technologies reached an all-time high in the wake of the COVID-19 pandemic. Technologies including telemedicine, chatbots, and robots are being utilized to help make diagnoses, gather information, treat patients, reassure the population, and even prepare future vaccines. The potential of telehealth has been emphasized, given a global shortage in hospital beds and healthcare workers. Players operating in the telehealth market concentrate on providing innovative solutions on COVID-19 to support hospitals and healthcare providers.

Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=41591

Artificial Intelligence & Analytics to Record High Revenue in Telehealth Business

Big Data analytics could process data collected from telehealth modalities, including both objective (vital signs, ambient environment) and subjective data (symptoms, patient behavior), along with historical data to enable risk prediction and management. Moreover, public payers, federal agencies, and large commercial insurers have expanded telehealth access amid the pandemic. The majority of them are struggling to ensure that telehealth is being applied to the right patients for the right healthcare needs for increasing efficacy and efficiency in care delivery. In that regard, there appears to be major potential in analytics, AI, and machine learning, as care delivery adapts to the extensive usage of telehealth. Data-driven analytics, therefore, forms a significant component of ensuring efficacy and efficiency of telehealth.

Legal & Privacy Issues: Key Restraint

Telehealth involves storage and transfer of patient records electronically. Hence, it is susceptible to privacy and security breaches. Ineffective management of privacy and security issues in telemedicine could compromise the overall success of the telehealth system.

Get COVID-19 Analysis on Telehealth Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=41591

During file-sharing over networks, invaders could gain access to confidential information and possibly alter, steal, or even delete patient records. This could lead to serious outcomes such as misdiagnosis or administering an incorrect treatment plan to the patient whose data has been tampered with.

This could lead to legal issues. For instance, in March 2012, BlueCross BlueShield of Tennessee agreed to pay the U.S. Department of Health and Human Services (HHS) US$ 1.5 Mn for inadequate security measures that allowed 57 unencrypted hard-drives containing private health information to be stolen from its facility. Hence, people in the U.S are reluctant to opt for telemedicine technology because they are apprehensive of privacy breach incidents.

In the U.S., a doctor should be licensed for practice in the state in which the patient resides, regardless of where the doctor lives. Moreover, the doctor must conduct an appropriate and sufficient history and physical examination of the patient as a precondition to prescribing or dispensing drugs to the patient. In many ways, these two common requirements pose a barrier to the practice of telemedicine across state borders.

Furthermore, the Medicare and Medicaid services do not fully cover telehealth/telemedicine treatment, and insurance coverage varies considerably from state to state. Therefore, these legal and privacy issues are expected to hamper the telehealth market.

Make an Enquiry before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=41591

Telehealth Market: Competition Landscape

This report profiles major players in the global telehealth market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

The global telehealth market is highly fragmented, with the presence of a number of international as well as regional players

Leading players operating in the global telehealth market are

  • Teladoc, Inc.
  • American Well
  • BioTelemetry, Inc.
  • Medtronic
  • Aerotel Medical Systems Ltd.
  • InTouch Technologies, Inc.
  • Koninklijke Philips N.V
  • Honeywell International, Inc.
  • GE Healthcare
  • AMD Global Telemedicine, Inc.

More Trending Reports by Transparency Market Research –

Topical Antibiotics Market: https://www.transparencymarketresearch.com/topical-antibiotics-market.html

Dry Eye Disease Diagnostics & Treatment Market: https://www.transparencymarketresearch.com/dry-eye-disease-diagnostics-treatment-market.html

Rare Neurodegenerative Disease Treatment Market: https://www.transparencymarketresearch.com/rare-neurodegenerative-disease-treatment-market.html

Von Willebrand Disease Treatment Market: https://www.transparencymarketresearch.com/von-willebrand-disease-treatment-market.html

Respiratory Virus Vaccines Market: https://www.transparencymarketresearch.com/respiratory-virus-vaccines-market.html

Equine Diagnostic Services Market: https://www.transparencymarketresearch.com/equine-diagnostic-services-market.html

Respiratory Antiviral Treatment Market: https://www.transparencymarketresearch.com/respiratory-antiviral-treatment-market.html

In-vitro Inflammatory Bowel Disease Diagnostic Market: https://www.transparencymarketresearch.com/in-vitro-inflammatory-bowel-disease-diagnostic-test-market.html

About Us

Transparency Market Research is a global market intelligence company providing market research reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us

Rohit Bhisey

Transparency Market Research Inc.

CORPORATE HEADQUARTER DOWNTOWN,

1000 N. West Street,

Suite 1200, Wilmington, Delaware 19801 USA

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

Back to news