Digital Health refers to the utilization of information and communication technologies in medicine and other health-related fields to control diseases and health risks and to encourage well-being. The use of electronic information and telecommunications technology to support long-distance clinical health care, patient and professional health-related education, public health, and health management is known as Telehealth. GlobalData uses proprietary data and analytics to provide a comprehensive report on the telehealth market in the US. Buy the latest report here.
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In 2023, GlobalData’s Market Model methodology determined that the leading player in the telehealth market in the US was Teladoc Health followed by American Well, Siemens Healthineers and Philips Healthcare Informatics.
Understanding market size can be crucial to evaluate opportunities and make informed decisions about market entry and exit. Medical device companies can identify attractive segments in respective markets as well as develop marketing strategies based on forecasts for those segments.
Technologies used within Telehealth include videoconferencing, the internet, store-and-forward imaging, streaming media, and terrestrial and wireless communications. The Telehealth market include Telehealth Software and Services and Telehealth Devices. The Telehealth Software and Services platform is utilized by clinicians to communicate with patients and share videos and images is telemedicine software. Telehealth devices are used to evaluate and diagnose medical conditions. The market considers real-time telemedicine (Synchronous) solutions, store-and-forward (Asynchronous) telemedicine and on-site telemedicine.
The telehealth market in the US can expand or contract due to a variety of reasons including population demographics, disease incidence and prevalence, macroeconomic issues, and geopolitical considerations. Disruption to a market could be caused by a sudden, unexpected change in these factors, but it could also be driven by changes in clinical practice, leading to a change in diagnosis or treatment of patients, as part of a process to generally improve medical practice.
For the latest analysis of the market size telehealth in the US, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Medical Intelligence Center Market Models are the gold standard of medical device market valuation, company share estimation and market trend forecasting. GlobalData uses a patient-based forecast model or installed base methodology to determine the market size for therapeutic indications and capital equipment expenditures. Estimates are based on a number of sources, including primary research—KOL and industry contact interviews—and secondary research, such as company reports, press releases, published articles, proprietary databases, and general news media.
