US Telehealth Market Research Report, size, share,
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This market research report on US telehealth market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by modality (mHealth, remote patient monitoring, and virtual health), by component (services, hardware, and software), and by end-users (healthcare providers, patient and individuals, employer and government organizations, and payers).

US Telehealth Market – Overview

The introduction of remote healthcare services to offer accessible and affordable medical assistance to all patients across the world is one of the primary factors attributing to the growth of the US telehealth market. Telehealth and telemedicine are interchangeably used in the healthcare industry and these services help in offering communication, diagnosis, treatment and patient monitoring in the US market. The use of these medical services will allow healthcare specialists and care providers to use innovative technologies, such as mobile phone applications, website monitoring applications, wearable devices, and video conferencing to remotely connect to patients in the US market. The focus on integrating telecommunication services will help to reduce the cost of healthcare services and improve patient care systems across the US market. The introduction of low-powered network systems and medical sensors that are merged with a wireless network will revolutionize the US market over the next few years. Real-time tracking and monitoring will allow doctors to use blood pressure monitoring, glucose monitoring, and other vital signs monitoring services remotely in the US market. The increasing awareness for self-management of diseases will promote the adoption of these innovative services in the US market. Furthermore, the introduction of remote patient monitoring devices, smart gadgets, and virtual visits will boost revenues in the US telehealth market during the forecast period.

The launch of telemedicine services helps minimize unnecessary hospital visits, long patient wait time, and physical discomfort caused to patients thereby, augmenting the demand in the US market. The growing demand for mHealth and virtual visits that offer continuous monitoring of health conditions with predictive analysis that aids in the detection of adverse health effects will transform the healthcare industry in the US market. The US telehealth market is expected to reach revenues of over $ 13 billion by 2023, growing at a CAGR of approximately 27% during 2017-2023.

US Telehealth Market at a Glance

US Telehealth Market Size, Share, Growth and Industry Anlaysis 2023

 

US Telehealth Market – Dynamics

The increasing availability of mobile health apps compatible with wearable medical devices will contribute to the growth of the US telehealth market. The extensive use of smartphones and internet connectivity is boosting the awareness about wearable devices and medical sensors in the US market. These devices are designed to enhance remote patient monitoring and telemedicine services in the market. Service providers are offering a varied range of mobile applications that support continuous monitoring of a patient’s condition along with the ability to personalize care for each patient to attract new consumers in the US market. With the use of wearable wireless sensors, people can monitor their vitals like blood oxygen, glucose levels, BP, and heart rhythm seamlessly. Additionally, these devices and apps can store large volumes of health-related data that is transmitted to physicians for evaluation and monitoring of patients on a regular basis. Such innovations will transform the healthcare industry and boost demand in the US telehealth market. For instance, Fitbit and Garmin are two most popular wearable medical devices available in the US market.

US Telehealth Market – Segmentation

This market research report includes a detailed segmentation of the market by modality, component, and geography.

Segmentation of US Telehealth Market

US Telehealth Market segments and share by components, modality & endusers

 

US Telehealth Market – By Modality

Penetration of smart gadgets to boost demand for mHealth services in the US telehealth market during the forecast period

The US telehealth market by modality is segmented into mHealth, remote patient monitoring, and virtual health. mHealth occupied more than half of the market share in 2017, growing at a CAGR of around 33% during the forecast period. The growing preference of home care and self-care medical devices is one of the primary factors attributing to the growth of the mHealth segment in the US market. The increasing penetration of smart gadgets and next-generation connected devices such as smart glucose monitors, ECG trackers, and heart rate trackers will boost the demand for these services in the US market. The increasing focus on disease management, fitness, continuous health monitoring, and wellness is promoting the use of sophisticated mHealth applications in the US market. Leading medical companies are combining personal devices with advanced technology for personalized care management to offer superior patient care and gain larger market share in the US market. Moreover, the establishment of value-based reimbursement reforms is helping in reducing cost and improving healthcare outcomes and promoting the use of mHealth applications in the US market. The launch of health call centers, emergency toll-free telephone services, disaster management, patient records, and health surveys will augment the evolution of the mHealth segment in the US telehealth market during the forecast period.

US Telehealth Market – By Component

Technological innovations to transform the services segment in the US telehealth market during the forecast period

The component segment in the US telehealth market is classified into services, hardware, and software. The services segment dominated the largest market share in 2017, growing at a CAGR of over 31% during the forecast period. The service providers conduct and process virtual visits, online consultations of patients, and monitor patients in real time in this segment in the US market. The recent shift towards patient-centric value-based care systems is one of the major factors attributing to the adoption of telehealth services in the US market. The rising prevalence and incidence of chronic conditions such as diabetes, hypertension, cardiovascular diseases, COPD, and asthma will drive the demand for these services in the US market. The use of these services will help patients to cut down costs and reduce the burden of hospital visits in the US market. The service providers in the US market are investing in the advancement of healthcare technology and the availability of effective treatment options to gain a larger share and offer better patient care in the US market. Hospitals and clinics are offering these services for remote patient monitoring as an early symptom management tool and to manage high-risk chronically ill patients. The changes in the regulating reimbursement policies and clarity on data protection laws will boost the adoption of these services in the US telehealth market.

US Telehealth Market – By End-Users

Adoption of tele-ICUs by various healthcare providers will revolutionize the US telehealth market during the forecast period

The US telehealth market by end-users is divided into healthcare providers, patient and individuals, employer and government organizations, and payers. The healthcare providers occupied the majority of the market share in 2017 growing at a CAGR of approximately 25% during the forecast period. The use of healthcare delivery system that enables healthcare providers to connect with consulting practitioners and patients across vast distances remotely is propelling the growth of this segment in the US market. The ability to perform high-tech monitoring without requiring patients to leave their homes, virtual consultations with distant specialists, cost-effective, and more convenient care option for patients are some of the benefits offered by these services, thereby encouraging healthcare providers to adopt these services in the US market. Various hospitals are offering telemedicine services for diagnosis, intervention, and treatment of a broad range of diseases in the US market. The increasing adoption of tele-ICUs, telestroke, cybersurgery, telepharmacy, virtual visits, and other such platforms will revolutionize the US telehealth market over the next few years.

Key Vendor Analysis

The US telehealth market is highly dynamic and fragmented with the presence of several medical device manufacturers, software or app providers, and healthcare service providers. The rapid technological advancement is encouraging vendors to introduce platforms with innovative and advanced features to meet the growing customer demands in the US market. The leading healthcare companies are investing in R&D to integrate hardware and software to improvise remote healthcare services to end-users and gain a larger US market share. Top service providers are offering wearable and connected medical devices compatible with telemedicine platforms to sustain the competition in the US market. The players are leveraging strategic marketing and distribution policies to attract new consumers to the US telehealth market.

The major vendors in the US market are:

  • AMD Global Telemedicine
  • American Well
  • BioTelemetry
  • GlobalMedia Group
  • Honeywell Life Care Solutions
  • Medtronic
  • Philips Healthcare
  • Teladoc

The other prominent players in the US telehealth market are A&D Company, Abbott, AgaMatrix, AirStrip Technologies, AliveCor, AT & T, Athenahealth, Biotricity, BIOTRONIK, Boston Scientific, Carena, Celtic Healthcare, CHI Health, edgeMED Healthcare, eVisit, GE Healthcare, iHealth Lab, IMDSOFT, INOVA, Integrity Urgent Care, InTouch health, iSelectMD, Jawbone, Masimo, MDLIVE, MedSpring, MeMD, Mercy Virtual, meVisit, OMRON Healthcare, PlushCare, Qualcomm Life, Ringadoc/MedXCom, Spacelabs Healthcare, Specialists on Call, THA Group, Vidyo, Virtuwell, VSee, and Zipnosis

Key market insights include

  1. The analysis of US telehealth market provides market size and growth rate for the forecast period 2018-2023.
  2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the US telehealth market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of US telehealth market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

The US telehealth market size is expected to reach revenues of over $13 billion by 2023, growing at a CAGR of around 27% by 2017–2023.

The US telehealth market is driven by increasing use of smartwatches, smartphones, and health & wellness gadgets to track day-to-day physical and health activities. The increasing R&D investment for the improvement and development of telehealth platforms will augment the growth of the US market during the forecast period. The market research report provides in-depth market analysis and segmental analysis of the US telehealth market by modality, component, and geography.

Base Year:                  2017

Forecast Year:           2018–2023

The report considers the present scenario of the US telehealth market and its market dynamics for the period 2018−2023. The study covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. The study also profiles and analyzes the leading companies and various other prominent companies operating in the US telehealth market.

Major Vendors in the US Telehealth Market

  • AMD Global Telemedicine
    • Business Overview
    • AMD in the US Market
    • Major Service Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • American Well
  • BioTelemetry
  • GlobalMedia Group
  • Honeywell Life Care Solutions
  • Medtronic
  • Philips Healthcare
  • Teladoc

Prominent Players in the US Telehealth Market

  • A&D Company

    • Company Overview 
  • Abbott
  • AgaMatrix
  • AirStrip Technologies
  • AliveCor
  • AT & T
  • Athenahealth
  • Biotricity
  • BIOTRONIK
  • Boston Scientific
  • Carena
  • Celtic Healthcare
  • CHI Health
  • edgeMED Healthcare
  • eVisit
  • GE Healthcare
  • iHealth Lab
  • IMDSOFT
  • INOVA
  • Integrity Urgent Care
  • InTouch health
  • iSelectMD
  • Jawbone
  • Masimo
  • MDLIVE
  • MedSpring
  • MeMD
  • Mercy Virtual
  • meVisit
  • OMRON Healthcare
  • PlushCare
  • Qualcomm Life
  • Ringadoc/MedXCom
  • Spacelabs Healthcare
  • Specialists on Call
  • THA Group
  • Vidyo
  • Virtuwell
  • VSee
  • Zipnosis

Market Segmentation by Modality

  • mHealth
  • Remote Patient Monitoring
  • Virtual Health

Market Segmentation by Component

  • Services
  • Hardware
  • Software

Market Segmentation by End-users

  • Healthcare Providers
  • Patient & Individuals
  • Employer & Government Organizations
  • Payers

1          Research Methodology

2          Research Objectives

3          Research Process

4          Report Coverage

4.1       Market Definition

4.2       Base Year

4.3       Scope of Study

4.3.1   Market Segmentation by Modality

4.3.2   Market Segmentation by Component

4.3.3   Market Segmentation by End-users

 

5          Report Assumptions & Caveats

5.1       Key Caveats

5.2       Inclusions

5.3       Exclusions

5.4       Currency Conversion

5.5       Market Derivation

 

6          Market at a Glance

7          Introduction

7.1       Overview

7.2       US Telehealth Market: Market Snapshot

 

8          US Telehealth Regulatory Scenario

8.1       Overview

8.1.1   Implementation of New Regulations/Laws over Last Few Years in US

 

9          Reimbursement Scenario

9.1       Overview

9.1.1   Eligible Providers for Remote Healthcare Reimbursement Criteria

9.1.2   Eligible Facilities

9.1.3   Future Direction of Reimbursement Policies

 

10        US Telehealth Market Dynamics

10.1    US Telehealth Market Growth Enablers

10.1.1 Growing Target Pool of Patients Requiring these Services

10.1.2 Increasing Number of mHealth Applications Compatible with Wearable Medical Devices

10.1.3 Growing Demand for Remote Patient Monitoring Platforms and Connected Wearable Medical Devices

10.1.4 YOY Impact of Market Growth Enablers

10.2    US Telehealth Market Growth Restraints

10.2.1 Uncertainty over Establishing Standard Regulatory Frameworks and Legal Barriers

10.2.2 Data Security and Privacy Risks Associated

10.2.3 Lack of Standard Interoperability in the Infrastructure

10.2.4 YOY Impact of Market Growth Restraints

10.3    US Telehealth Market Opportunities & Trends

10.3.1 Strategic Acquisitions and Collaborations

10.3.2 Emergence of Robots and Robotic Platforms

10.3.3 Advances in Technology Encouraging Adoption of these Services among End-users

10.3.4 YOY Impact of Market Opportunities & Trends

 

11        US Telehealth Market

11.1    Market Overview

11.2    Market Size & Forecast

11.3    Porter’s Five Forces Analysis

11.3.1 Threat of New Entrants

11.3.2 Bargaining Power of Suppliers

11.3.3 Bargaining Power of Buyers

11.3.4 Threat of Substitutes

11.3.5 Competitive Rivalry

 

12        US Telehealth Market by Modalities

12.1    Market Overview

12.2    mHealth

12.2.1 Overview

12.2.2 Market Size & Forecast

12.3    Remote Patient Monitoring (RPM)

12.3.1 Overview

12.3.2 Market Size & Forecast

12.4    Virtual Visits

12.4.1 Overview

12.4.2 Market Size & Forecast

 

13        US Telehealth Market by End-users

13.1    Market Overview

13.2    Healthcare Providers

13.2.1 Overview

13.2.2 Market Size & Forecast

13.3    Patients & Individuals

13.3.1 Overview

13.3.2 Market Size & Forecast

13.4    Employer groups and Government Organizations

13.4.1 Overview

13.4.2 Market Size & Forecast

13.5    Payers

13.5.1 Overview

13.5.2 Market Size & Forecast

 

14        US Telehealth Market By Components

14.1    Market Overview

14.2    Services

14.2.1 Market Size & Forecast

14.3    Hardware

14.3.1 Market Size & Forecast

14.4    Software

14.4.1 Market Size & Forecast

 

15        Competitive landscape

15.1    Market Overview

 

16        Key Company Profiles

16.1    AMD Global Telemedicine

16.1.1 Business Overview

16.1.2 AMD Global Telemedicine in US Telehealth Market

16.1.3 Major Product Offerings

16.1.4 Key Strategies

16.1.5 Key Strengths

16.1.6 Key Opportunities

16.2    American Well

16.2.1 Business Overview

16.2.2 American Well in US Telehealth Market

16.2.3 Major Service Offerings

16.2.4 Key Strengths

16.2.5 Key Strategies

16.2.6 Key Opportunities

16.3    BioTelemetry

16.3.1 Business Overview

16.3.2 Biotelemetry in US Telehealth Market

16.3.3 Key Strengths

16.3.4 Key Strategies

16.3.5 Key Opportunities

16.4    Global Media Group

16.4.1 Business Overview

16.4.2 GlobalMedia Group in US Telehealth Market

16.4.3 Major Product Offerings

16.4.4 Key Strategies

16.4.5 Key Strengths

16.4.6 Key Opportunities

16.5    Honeywell Life Care Solutions

16.5.1 Business overview

16.5.2 Honeywell Life Care Solutions in US Telehealth Market

16.5.3 Major Product Offerings

16.5.4 Key Strategies

16.5.5 Key Strengths

16.5.6 Key Opportunities

16.6    Medtronic

16.6.1 Business Overview

16.6.2 Medtronic in US Telehealth Market

16.6.3 Major Service Offerings

16.6.4 Key Strengths

16.6.5 Key Strategies

16.6.6 Key Opportunities

16.7    Philips Healthcare

16.7.1 Business Overview

16.7.2 Philips Healthcare in US Telehealth Market

16.7.3 Major Product Offerings

16.7.4 Key Strategies

16.7.5 Key Strengths

16.7.6 Key Opportunities

16.8    Teladoc

16.8.1 Business Overview

16.8.2 Teladoc in US Telehealth Market

16.8.3 Major Service Offerings

16.8.4 Key Strengths

16.8.5 Key Strategies

16.8.6 Key Opportunities

 

17        Other Prominent Vendors

17.1    AirStrip Technologies

17.1.1 Business Overview

17.1.2 Key Strength

17.1.3 Key Strategy

17.1.4 Key Opportunity

17.2    InTouch health

17.2.1 Business Overview

17.2.2 Service Offerings

17.2.3 Key Strength

17.2.4 Key Strategy

17.2.5 Key Opportunity

17.3    iMDsoft

17.3.1 Business Overview

17.3.2 Service Offerings

17.3.3 Key Strengths

17.3.4 Key Strategies

17.3.5 Key Opportunity

17.4    INOVA

17.4.1 Business Overview

17.4.2 Service Offerings

17.4.3 Key Strength

17.4.4 Key Strategy

17.4.5 Key Opportunity

17.5    Carena

17.5.1 Business Overview

17.5.2 Key Strength

17.5.3 Key Strategy

17.5.4 Key Opportunity

17.6    A&D Company

17.6.1 Company Overview

17.7    Abbott

17.7.1 Company Overview

17.8    AgaMatrix

17.8.1 Company Overview

17.9    AliveCor

17.9.1 Company Overview

17.1    AT&T

17.10.1  Company Overview

17.11  Athenahealth

17.11.1 Company Overview

17.12  Biotronik

17.12.1 Company Overview

17.13  Boston Scientific

17.13.1 Company Overview

17.14  Biotricity

17.14.1 Company Overview

17.15  Celtic Healthcare

17.15.1 Company Overview

17.16  CHI Health

17.16.1 Company Overview

17.17  edgeMED Healthcare

17.17.1 Company Overview

17.18  eVisit

17.18.1  Company Overview

17.19  GE Healthcare

17.19.1 Company Overview

17.2    iHealth Lab

17.20.1 Company Overview

17.21  Integrity Urgent Care

17.21.1 Company Overview

17.22  iSelectMD

17.22.1 Company Overview

17.23  Masimo

17.23.1 Company Overview

17.24  MDLIVE

17.24.1 Company Overview

17.25  MeMD

17.25.1 Company Overview

17.26  Mercy Virtual

17.26.1 Company Overview

17.27  MedSpring

17.27.1 Company Overview

17.28  meVisit

17.28.1 Company Overview

17.29  OMRON Healthcare

17.29.1 Company Overview

17.30  PlushCare

17.30.1 Company Overview

17.31  Qualcomm Life

17.31.1 Company Overview

17.32  Ringadoc/MedXCom

17.32.1 Company Overview

17.33  Specialists on Call

17.33.1 Company Overview

17.34  THA Group

17.34.1 Company Overview

17.35  Vidyo

17.35.1 Company Overview

17.36  VSee

17.36.1 Company Overview

17.37  Virtuwell

17.37.1 Company Overview

17.38  Spacelabs Healthcare

17.38.1 Company Overview

17.39  Zipnosis

17.39.1 Company Overview

18        Report Summary

18.1    Key Takeaways

18.2    Strategic Recommendations

18.3    Qualitative Summary: US Telehealth Market

18.4    Quantitative Summary: US Telehealth Market

18.4.1 Market by Modalities

18.4.2 Market by Components

18.4.3 Market by End-users

19        Appendix

19.1    Abbreviations

    

List of Exhibits

Exhibit 1         Segmentation of US Telehealth Market

Exhibit 2         Market Size Calculation Approach 2017

Exhibit 3         Market Size Calculation 2017

Exhibit 4         Efficiency of Telehealth Applications in Healthcare

Exhibit 5         Telehealth Ecosystem

Exhibit 6         Dimensions and Stakeholders

Exhibit 7         Segmentation of US Telehealth Market

Exhibit 8         State Laws and Medicaid Reimbursement Policies

Exhibit 9         Share Of Healthcare Apps Downloaded For Various Chronic Diseases In Apple App Store 2013

Exhibit 10       Top Seven Countries with Highest Healthcare Spending as Percentage of GDP 2013

Exhibit 11       US Telehealth Market 2017−2023

Exhibit 12       Five Forces Analysis 2017

Exhibit 13       Market in the US by Modalities 2017 & 2023 ($ million)

Exhibit 14       Market by Service Type

Exhibit 15       US Telehealth Market by Modalities 2017 (%)

Exhibit 16       US Market by Modalities 2023 (%)

Exhibit 17       US Market by Modalities 2017−2023 ($ million)

Exhibit 18       US Market by Modalities 2017−2023 (%)

Exhibit 19       Percentage share of mHealth's major applications in next five years

Exhibit 20       Factors affecting mHealth Market Growth

Exhibit 21       mHealth Market in US 2017–2023

Exhibit 22       Remote Patient Monitoring Market in US 2017–2023

Exhibit 23       Major Reasons for Opting for Video Visits among US Consumers (%)

Exhibit 24       Virtual Visits Market in US 2017−2023

Exhibit 25       Market in the US by End-Users 2017 & 2023 ($ million)

Exhibit 26       US Market by Service Type

Exhibit 27       US Telehealth Market by End-users 2017 (%)

Exhibit 28       US Market by End-users 2023 (%)

Exhibit 29       US Market by End-user Type 2017−2023 ($ million)

Exhibit 30       US Telehealth Market by End-user Type 2017−2023 (%)

Exhibit 31       Application by Healthcare Providers in Emergency Departments (%)

Exhibit 32       US Market by Healthcare Providers 2017−2023

Exhibit 33       US Market by Patients & Individuals 2017–2023

Exhibit 34       US Market by Employer Groups and Government Organizations 2017–2023

Exhibit 35       US Telehealth Market by Payers 2017–2023

Exhibit 36       Market in the US by Components 2017 & 2023

Exhibit 37       Market by Service Type

Exhibit 38       US Market by Components 2017 (%)

Exhibit 39       US Telehealth Market by Components 2023 (%)

Exhibit 40       US Market by Component 2017-2023 ($ million)

Exhibit 41       US Market by Components 2017−2023 (%)

Exhibit 42       US Market by Services 2017–2023

Exhibit 43       US Telehealth Market by Hardware 2017–2023

Exhibit 44       US Market by Software 2017–2023

Exhibit 45       Number of Health Apps Available in Various App Stores 2016–2017

Exhibit 46       Number of Health Apps Downloaded by Consumers 2013–2017

 

List of Tables

Table 1            Key Caveats

Table 2            Currency Conversion 2013−2017

Table 3            YOY Impact of Market Growth Enablers 2017−2023

Table 4            YOY Impact of Market Growth Restraints 2017−2023

Table 5            Major Acquisitions witnessed in US Telehealth Market

Table 6            YOY Impact of Market Opportunities & Trends 2017−2023

Table 7            Impact of Several Modes of Virtual Visits on Market 2017−2023

Table 8            Hospital-based Platforms

Table 9            Impact of Market Shares of Key Players: Present and Future Scenario

Table 10         AMD Global: Product Offerings

Table 11         American Well: Product Offerings

Table 12         Global Media: Product Offerings

Table 13         Honeywell Life Care Solutions: Product Offerings

Table 14         Medtronic: Product Offerings

Table 15         Philips Healthcare: Product Offerings

Table 16         Teladoc: Product Offerings

Table 17         Qualitative Summary of US Telehealth Market

Table 18         Quantitative Summary of US Telehealth Market by Modalities 2017–2023

Table 19         Quantitative Summary of US Market by Components in US 2017–2023

Table 20         Quantitative Summary of US Market by End-user 2017–2023

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