The introduction of a broad range of technological innovations and improvements will attribute to the development of the telehealth market in US.
Arizton’s recent market research report on the telehealth market in US provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by modality (mHealth, remote patient monitoring, and virtual health), by component (services, hardware, and software), by end-users (healthcare providers, patient and individuals, employer and government organizations, and payers), and offers detailed competitive analysis.
The telehealth market in US is anticipated to generate revenues of over $13 billion by 2023, growing at a CAGR of approximately 27% during the forecast period.
The advancement of technology is enabling healthcare service providers to reach rural areas, war-torn regions, and areas affected by natural calamities to offer patient care on a real time basis in the US market. The implementation of telemonitoring for monitoring congestive heart failure (CHF), telestroke for stroke condition, and telepulmonology for chronic obstructive pulmonary disease will propel the growth of the telehealth market in US
The top 3 drivers and trends augmenting the growth of the telehealth market in US are discussed below:
Growing demand for remote patient monitoring platforms and connected wearable medical devices
The rising demand for remote patient monitoring and connected medical devices is augmenting the evolution of the telehealth market in US. These devices offer advantages such as continuous monitoring, prediction of health problems and providing alerts, a collection of detailed real-time longitudinal data, and helping to educate and empower patients to take control of their health will promote the development of the US market. These services and innovative devices is providing beneficial advantages in home care settings, elderly care centers, and remote areas in terms of providing quality care in the telehealth market in US. The rapid growth and adoption of smartphones and tablets in the healthcare industry will encourage healthcare providers, medical device manufacturers, and clinicians to launch innovative medical platforms in the telehealth market in US. Remote patient monitoring involves evaluation, monitoring, and management of patients through a remote interfaces. These devices collects data such as vital signs, blood pressure, glucose levels from the individual and then transfers the data to a remote healthcare clinician for review, care management, and aids in clinical decision making of treatment protocols. The innovations in cloud computing, advanced technologies, and machine learning will enable the use of smartphones with specific health-related applications in the telehealth market in US.
The emergence of telehealth robots and robotic platforms
The emergence and extensive use of robots and robotic platforms in the healthcare industry will revolutionize the telehealth market in US. The integration of robotics with telemedicine helps performing minimally invasive surgeries for treating urological and gynecological disorders in the US market. The growing popularity of mHealth, virtual visits, and tele-ICUs and the use of robotics will encourage manufacturers to launch innovative platforms in the US market. The rising adoption of healthcare robotics by making healthcare robots more sophisticated, efficient, precise, and affordable in the US market. Robotics assisted surgeries will transform the healthcare industries and encourage vendors to invest in the R&D to launch sophisticated robotic platforms for healthcare services in the telehealth market in US. Telemedicine is gaining traction among remote clinics, community health centers, cruise ships, schools, sporting events, and smaller hospitals in the US market. New developments in these services include robot combines mobility with an audio or video communication platform and provide instant access to patient medical records. Such services will transform the telehealth market in US. For instance, Hamilton County Hospital deployed its RP-VITA telemedicine robot and it is used in the emergency department and primary care visits and is providing telehealth services to connect patients and specialists through the robot in the telehealth market in US.
Advances in technology encouraging end-users to adopt telehealth
The introduction of a broad range of technological innovations and improvements will attribute to the development of the telehealth market in US. The leading manufacturers are inventing new technological platforms and improving existing ones to enhance the overall outcome of healthcare services to patients in the telehealth market in US. The advancement in technologies such as 32-bit ARM architecture, BLE and ANT+ (a relatively new addition to ANT, which is ultra-low power and short-range wireless technology) is used in designing wearable devices in the US market. For instance, True Wearables is developing the world's first completely wireless, continuous, fully disposable, single-use pulse oximeter called Oxxiom in the US market. Some of the platforms available in the market have features like inbuilt alert systems and messaging options to evaluate patient condition on a regular basis. These systems will help improve patient care in the telehealth market in US.
The leading vendors in the US telehealth market are Medtronic, Honeywell Life Care Solutions, Teladoc, American Well, BioTelemetry, GlobalMedia Group, AMD Global Telemedicine, and Philips Healthcare.
The complete overview of the latest market research report on telehealth market in US by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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